Sotheby’s Auction Sees Record Prices Paid for Diamonds
14 Oct / 10
|In the picture you see cute Sotheby's employee Martha, modelling an extremely rare Van Cleef and Arpels pink diamond ring at the auction house in central London, September 16, 2010. Just a month later, this 6.43-carat pink diamond ring was sold for £4.8 million in the Magnificent Jewels & Jadeite sale held in Hong Kong by Sotheby’s, as wealthy Asian buyers were splashing out on gems, pearls and jade on October 10. The price paid for the ring by a private collector exceeded the magical £625 thousand per carat barrier, because only very rare fancy colour diamonds (pinks, reds, blues) sell for more than US$1 million per carat.|
The ring was one of 390 lots, including:
– a fancy vivid yellow diamond 5.14 carat and 0.95 carat diamond ring, sold for over £656 thousand, the second highest price per carat for any fancy vivid yellow diamond - US$204,000 per carat;
– a diamond- encrusted butterfly brooch from the collection of the late Countess of Harewood. Once owned by Princess Mary, daughter of Britain’s King George V, this 19th-century brooch, contains almost 47 carats total weight in diamonds and was sold for over £146 thousand, against a high estimate of £ 96 thousand;
– a spectacular pair of fancy vivid yellow diamond and diamond pendant earrings (also seen in the pic), with fancy vivid yellow diamonds of 21.17ct and 20.77ct; sold for just over £ 3 million.
The total auction was expected to generate around £29 million GBP but came in 15% ahead of that target with total sales of almost £34 million GBP, breaking Sotheby’s own record for such a sale in Hong Kong, set last spring.
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