Fancy Purplish Red Diamond Goes on Auction in Australia

Sotheby’s Australia will offer 250 lots of antique and contemporary jewelry at an auction this month, including a 0.82-carat oval-cut fancy purplish red-color diamond. The diamond was mined at Australia’s Argyle mine and is expected to fetch $0.76-$1.1 million. The diamond is set in a platinum ring, between a pair of fancy blue diamonds.

This is the first red diamond to ever be offered for public auction in Australia.

Also in the sale is a 10.07-carat heart-shaped diamond set in a ring estimated at $371,000-$459,000.

The sale contains jewels by Cartier, Bulgari, Tiffany & Co, Paspaley South Sea pearls, watches by Rolex and Cartier as well as white, yellow and pink solitaire diamonds.

The total value of the lots is estimated at $3.17-A$5.59 million.

Sotheby’s will hold the auction on April 12 in Sydney.