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Newsroom Full Article

Lukewarm Prices for Diamonds at Sotheby's HK Auction

April 07, 11 by Edahn Golan


These Harry Winston earrings with four diamonds
weighing 36.48 ct in total sold for $4.84 million.
Many diamonds auctioned on Wednesday at
Sotheby's HK sale sold at typical wholesale prices.
(IDEX Online News)
- Sotheby's Magnificent Jewels and Jadeite auction in Hong Kong totaled $53.5 million, selling 78.4% of the offered lots. While the auction's total was Sotheby's second highest ever and a number of diamonds sold at multi-million dollar prices, per carat prices were near market wholesale prices, something that may have disappointed sellers.

 

The top selling item was a 25.50-carat loose brilliant-cut D / Flawless Type IIa diamond with excellent cut, polish and symmetry that sold for HK$39.86 million, which translates to US$ 5.13 million or US$201,177 p/c.

 

Another item was a pair of diamond pendent earrings by Harry Winston. The earring are set with a pear-shaped diamond weighing 14.42 and 14.04 carats respectively, each surmounted by an oval diamond weighing 4.01 carats all graded D / IF. The earrings sold for US$4.84 million.

 

Other examples include a Type IIa D / FL brilliant-cut diamond weighing 6.64 carats with excellent polish and symmetry that sold for $1.01 million, or US$152,108 p/c.

 

The prices are surprising considering the high prices that were achieved until now and may reflect a certain cooling in the market, or that traders, rather than private collectors, dominated the bidding.

Diamond Index
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