Unique Pink 15.38 Carat Diamond Sells for $42.8 Million in New World Record
A rare pear-shaped vivid pink diamond fetched 30.8 million Swiss francs ($42.8 million) at auction on Tuesday, Sotheby's said, but several other large stones failed to reach the reserve prices set by the sellers.
The “Unique Pink”, weighing 15.38 carats and mounted on a ring, sold to an Asian private collector bidding by telephone, the auction house said.
It was the star lot at the saleroom’s semi-annual auction in Geneva, with a pre-sale estimate of $38 million-$51 million.
“The Unique Pink set a new world record for a fancy vivid pink diamond … It’s the highest price ever paid for a fancy vivid pink diamond,” David Bennett, worldwide chairman of Sotheby’s international jewellery division, told reporters.
The “Sweet Josephine”, a fancy vivid pink diamond weighing 16.08 carats, previously held the record after selling for $38.8 million at rival Christie’s in November, and still retains the price per carat record in the category.
Overall, the Sotheby’s sale netted $239 million, “setting a new world record for any jewellery auction”, Sotheby’s said in a statement. It eclipsed $218 million set a year ago.
In all, 83.2 per cent of the 488 lots on offer found new owners, but “The Emperor Ruby” was among those stranded, with a bid of $5.01 million.
“There were a few stones that were disappointing but overall the sale was a huge success,” Mr Bennett said.
A British collection of 29 jewels by French jeweller Cartier sold for $4.6 million, doubling its low estimate, he said.
A “new world record” was set for a jewel by the late Paris-based jeweller Alexandre Reza — a fancy intense blue diamond brooch surrounded with diamonds sold for $18.2 million.
“We’ve made a great effort to put together a sale that we thought was suitable for this particular market which is strong for the right things,” Mr Bennett said. “It seems to have paid off.”
SOURCE: ABC
POSTED: May 18, 2016
