5.72-ct Blue Diamond Sells for $8.8m

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.”

Source: DCLA

Qatari Royal Family in Court over Idol’s Eye Diamond

A legal battle over the Idol’s Eye, a 70.21 carat very light blue, eye shaped Golconda diamond, began on Monday (11 November) at the High Court, London.

Two branches of Qatar’s royal family are in dispute over the value of the gem – which could be anywhere between $10m and $27m.

The disagreement is between Qipco, a private investment company run by art collector Sheikh Hamad bin Abdullah al-Thani – a cousin of Qatar’s ruler Sheikh Tamim bin Hamad Al Thani – and Elanus Holdings, a company linked to the family of former culture minister Sheikh Saud bin Mohammed Al Thani.

Elanus loaned the diamond to Qipco in 2014 for 20 years, with an option to buy but the two sides disagree over the value of the stone. It is reported to be worth at least $10m, but according to a Reuter’s report, Elanus’s diamond expert has valued it at $27m.

Qipco says Elanus offered to sell the gem in February 2020, but then pulled out. Elanus disputes this.

Qipco is asking the High Court to force Elanus to go through with the sale.

The Idol’s Eye has a long and complex history. It was recovered in 1600 in the Kollur Mine, part of the Golconda Sultanate in southern India, was initially owned by Prince Rahab of Persia, and was auctioned by Christie’s London in 1865.

It has changed hands many times and has, at various stages, been owned by Harry Winston and Laurence Graff.

Source: DCLA

5 carat Blue Diamond with $10m US Estimate

A stunning platinum ring featuring a 5.02 carat blue diamond is set to headline Christie’s Hong Kong auction later this month, with an estimated value of up to US $10.3 million (HKD 80 million).

The centerpiece is an internally flawless, fancy deep blue marquise brilliant-cut diamond, graded by the Gemological Institute of America (GIA).

Dating back to 1923, the ring is listed in the auction catalog as “property of a lady,” though further details about the owner remain undisclosed.

This exquisite piece will lead the highly anticipated 124-lot Magnificent Jewels live sale on October 29, alongside a pair of diamond “Oriental Sunrise” earrings.

These earrings showcase two fancy vivid orange yellow diamonds (12.20 carats and 11.96 carats) and share the same US $10.3 million (HKD 80 million) high estimate.

Source: DCLA

Blues Lead Fancy Colour Prices

Fancy blue diamonds out performed other major color categories in price terms during the first quarter, the Fancy Color Research Foundation said.

Prices for fancy blues jumped 5% year on year for the three months ending March 31, according to the FCRF, which released its quarterly Fancy Color Diamond Index on Monday.

By contrast, prices of fancy pink diamonds declined 1.7%, while the index for yellows slipped 0.6%, the organization said. The overall index for fancy color diamonds edged up 0.1%.

Vivid blues and vivid pinks weighing 2 carats showed the best performance in their respective color categories during the quarter.

The Fancy Color Diamond Index tracks prices of fancy yellow, pink and blue diamonds in Hong Kong, New York and Tel Aviv.

Source: DCLA

Blues Lead Fancy Colour Prices

Fancy blue diamonds out performed other major color categories in price terms during the first quarter, the Fancy Color Research Foundation said.

Prices for fancy blues jumped 5% year on year for the three months ending March 31, according to the FCRF, which released its quarterly Fancy Color Diamond Index on Monday.

By contrast, prices of fancy pink diamonds declined 1.7%, while the index for yellows slipped 0.6%, the organization said. The overall index for fancy color diamonds edged up 0.1%.

Vivid blues and vivid pinks weighing 2 carats showed the best performance in their respective color categories during the quarter.

The Fancy Color Diamond Index tracks prices of fancy yellow, pink and blue diamonds in Hong Kong, New York and Tel Aviv.

Source: DCLA

$5.3 USD Million Record Price for a Fancy Intense Blue

A 3.09 carat emerald cut fancy intense blue diamond has sold for more than $5.3 million.

Setting a new record price per carat for an intense blue diamond.

The Polished Blue Diamond was set in a platinum ring flanked by tapered baguette cut diamonds.

The Fancy Intense Blue Diamond sold well above its high total estimate of $3 million.

Source: DCLA

$5.3 USD Million Record Price for a Fancy Intense Blue

A 3.09 carat emerald cut fancy intense blue diamond has sold for more than $5.3 million.

Setting a new record price per carat for an intense blue diamond.

The Polished Blue Diamond was set in a platinum ring flanked by tapered baguette cut diamonds.

The Fancy Intense Blue Diamond sold well above its high total estimate of $3 million.

Source: DCLA