7-Carat Blue Diamond Sold for $0.55M P/C at Christie's

The 39-ct Evening Star (above) sold for $138,000 p/c, closing a rollercoaster year on a high note

The Evening Star, a pear-shaped 39-carat D/ VVS1 diamond, was sold for $138,000 per carat at Christie's on Thursday. The sale to an anonymous buyer was the highlight of the New York Magnificent Jewels offer that underscores the regained willingness to pay top dollar for large and fancy colored diamonds.

The $5.4 million purchase price neared the higher valuation of $5.5 million, but other items crossed it. A square-cut fancy intense blue 7.02-carat, VS1 diamond estimated at $2-$3 million sold for $3.89 million, or $554,000 p/c.

Another notable diamond, a rectangular-cut 36.78-carat D/IF diamond, was sold to trader for $3.39 million, or $92,000 p/c.

“The diamond market continues to show remarkable strength despite the volatility of the financial world,” said Rahul Kadakia, head of jewelry at Christie’s New York.

“It was a fitting grand finale to a year that saw over $100 million in jewels change hands under our gavels in the U.S.,” Kadakia added.

Of the 178 diamond and jewelry items on the block, 151 were sold. By value, 97 were sold for a total of $25.18 million.