Truly Magnificent: 10.48 Carat Blue Diamond Sells for $10.86 Million

(IDEX Online News) – It’s certainly been a magnificent week for Geneva. First Christie’s held a record-breaking diamond and jewelry auction, which included the sale of the Archduke Joseph Diamond for a whopping $21.5 million, and last night it was the turn of rival auction house Sotheby’s to host its Magnificent Jewels sale. The auction realized $81.1 million – well above pre-sale expectations.

The star lot of the night was the sale of an exceptionally rare Fancy Deep blue, Flawless 10.48 carat diamond. The stunning item was bought by Laurence Graff for $10.86 million. At $1,036,273 per carat (p/c), this was not only a world record per carat price for a Flawless Fancy Deep blue diamond, but it was also a world record price for a Briolette cut diamond at auction.

Another record was set by a conch pearl Cartier bracelet, which was designed for Queen Victoria Eugenia of Spain. They royal piece sold for $3.46 million, an auction record for a conch pearl jewel and one of the highest prices ever paid for a jewel by Cartier.

One of the top lots of the night included a white, 21.19 carat, E / VVS2 step-cut diamond. The diamond surpassed its top pre-sale estimate of $1.6 million to achieve a final price of $1.98 million.

“This was truly one of the finest offerings of colored stones in 20 years,” said David Bennett, chairman of Sotheby’s Jewellery Department in Europe and the Middle East. “The quality of sapphires, rubies and emeralds was simply outstanding and this was reflected in the prices realized tonight… It was a personal pleasure for me to witness the extraordinary result achieved for Queen Victoria Eugenia’s Cartier bracelet, not only one of the greatest of Cartier’s creations, but also, I believe, one of the most important jewels of the last century.”