5.72-ct Blue Diamond Sells for $8.8m
December 11, 24
(IDEX Online) - A 5.72-carat fancy intense blue diamond beat its high estimate and sold for $8.8m yesterday (10 December) at Christie's New York.
The cushion brilliant cut VVS1 stone, set in a platinum ring with round diamonds, was the highlight of the Magnificent Jewels auction.
The price realized was $1,539,336 per carat. The pre-sale estimate was $6m to $8m.
The second highest price was for a pair of Harry Winston spinel and diamond earrings. They sold for $2,228,000—four times their high estimate of $600,000.
The sale raised a total of $49.2m, with 97 per cent of the 179 lots finding buyers.
Rahul Kadakia, Christie's international head of jewelry, said: "Today's sale in New York was a testament to the vibrant market for jewelry of the highest caliber with singular provenance.
"We were particularly pleased with the result of the top lot - a fantastic fancy intense blue diamond ring that sold for $8.8m."
The Fancy Color Research Foundation gave the blue diamond a visual score of 8 out of 12 in its pre-sale analysis, noting its low color dispersion.
It said: "True Face-Up: Equivalent to that of a 9.15 carat which is ~59.9 per cent larger than the average
"Analysis: A Fancy Intense Blue Cushion brilliant-cut diamond, polished as a classic colorless diamond, probably manufactured during the 1960s or 1970s.
"The diamond's inner-grade is very strong, and modifying its facet alignment could increase its saturation to vivid. No significant gray undertone is present in the color."