Sun Drop Diamond Disappoints at $12.3 Mln

(IDEX Online News) – A 110.03 carats fancy vivid yellow VVS1 pear-shaped diamond that was the highlight item of Sotheby’s Magnificent Jewels auction sold for CHF 11.3 million ($12.3 million) last night. The exceptional diamond was estimated at $11-$15 million, making the hammer price a disappointment at $111,631.43 p/c.

The diamond industry closely followed the auction, hoping the achieved price of the diamond will signify wide interest in exceptional diamonds. It’s understood that the anonymous owner of the diamond was hoping the diamond would sell for much more than $15 million.

The auction’s results concluded with a number of high value items withdrawn or unsold. Among them are a fancy intense blue pear modified brilliant-cut diamond weighing 10.09 carats estimated at $7.5-$10 million and a fancy pink step-cut fancy pink diamond weighing 8.95 carats estimated at $2.5-$3.5 million.

An item that found a buyer was a 38.88 carats, D / FL, cushion-shaped diamond that sold for $6.4 million.