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10.09ct Fancy Pink Diamond Fails to Attract its Buyer

19 Apr / 11
10.09ct Fancy Pink Diamond Fails to Attract its Buyer
The long-awaited Christie’s New York Magnificent Jewels sale went by last week, bringing in a total of $31.8 million revenue. Although, sadly enough for the auction house, their much-hyped star lot – a 10.09ct Fancy Vivid purplish-pink diamond ring, estimated between $12 million to $15 million – failed to attract a buyer.

The rare purple-pink diamond was supposed to highlight the auction, as large pink diamonds are among the rarest coloured diamonds and are always priced higher. But despite the fact that in recent years prices of pink diamonds have sky-rocketed beyond all proportions, which is a clear indicator of an increasing demand, this large 10.09ct Fancy Vivid purplish-pink diamond did not find its buyer. "We were disappointed that the 10-carat purple-pink diamond did not find a buyer, (but) top-quality white, blue, pink and yellow diamonds fared very well," said Christie's head of jewellery in New York, Radul Kadakia.

Among the coloured diamonds that topped the $1 million mark were a 3.25ct square emerald-cut fancy vivid blue IF blue diamond (sold for $3.67 million); a 6.61ct rectangular-cut fancy intense pink diamond of VS2 clarity (sold $3.5 million); a 50.29ct modified cushion-cut fancy vivid yellow VS1 diamond ring by Carvin French which went for over $2.5 million.

Two gemstone rings were also turning a few heads at the auction. They were 10.06ct Art Deco Kashmir sapphire ring of by Tiffany & Co.(sold for $746,500) and a 40.66ct cushion-cut Burmese sapphire and diamond ring that fetched $542,500. Of all the 281 lots offered, a total of 224 lots went under the hammer.
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