Christie’s Breaks Records with the Sale of the Perfect Blue Diamond

May 15th, 2014 by Noam Flint

It’s hard to believe that an auction could top the Sotheby’s auction this week, which broke a staggering seven new records. Still, the recent Christie’s Geneva Magnificent Jewels auction astonished diamond investors, collectors and enthusiasts alike with an array of highly unusual and valuable pieces.

How did Christie’s manage to steal the spotlight? For one, the auction included a jaw-dropping diamond that has been deemed “The Perfect Blue.” Moreover, the event, which took place May 14, featured a number of colored diamonds as well as colorless stones boasting remarkable clarity and quality.

So it’s no wonder that Christie’s raked in a whopping $154.19 million. That means the event broke the record set just one day prior by Sotheby’s for the general amount realized in a jewelry auction.

Here’s a look at some of the sparklers that seduced attendees.

The Perfect Winston Blue Diamond

One of the key gems that was generating buzz leading up to this event was a fancy vivid blue pear-shaped diamond that Rahul Kadakia, Christie’s head of jewelry Americas and Switzerland, called “the best blue diamond in the world.”

Weighing in at an impressive 13.22 carats, the Type IIb diamond boasts an ultra rare hue – the highest possible color saturation as graded by the GIA. Not only that, but the clarity is Internally Flawless, meaning there aren’t any internal fractures or even tiny pinpoints that hinder its appearance. The stone is also flanked on either side by a pear-shaped white diamond, one weighing 1.0-carat and the other 0.96 carats. Christie’s predicted that the bewitching blue diamond would fetch between $22 million and $26 million, and they were right on the money – it sold for $24,249,680 to American jeweler Harry Winston that renamed it the Winston Blue. The total price is slightly short of the record holder – The 35.56ct Wittelsbach Diamond – that was sold back in 2011 for $24.3 Millions. The per carat price was also a close second, dollars beneath the current holder at $1.799 Millions.

The Ocean Dream

While it goes without saying that The Perfect Blue was a major draw for auction attendees, there was another stone with a somewhat similar color that also got its fair share of attention. This triangular-cut fancy vivid blue green diamond, which weighed a “modest” 5.50 carats, has a remarkable turquoise tone.

The blue green diamond color is extremely sought after and hard to find. Not only that, but it is the largest diamond of its color in the world. The green diamond is set within a sculpted rock crystal, pavé-set diamond and pink diamond ring, which is mounted in platinum and gold. The GIA graded this stunner SI1 clarity, and noted in its report that “the combination of its size, natural origin, hue, and saturated color makes it an extremely unusual occurrence.” Christie’s proposed that The Ocean Dream would rake in between $7.7 million and $9.6 million, and the stone met expectations, selling for $8,798,637.

Leviev Colored Diamond Necklace

This piece by Leviev includes not one, but a multitude of colored diamonds, making it a highly sought-after addition to any collection. The chain itself features a string of fancy-cut diamonds and pink diamonds with a double L-clasp, mounted in platinum and gold. The pendant, though, is the most exquisite aspect of the necklace, with a light pink cut-cornered square-cut diamond that weighs a jaw-dropping 76.51 carats. According to the GIA report, this diamond is Type IIa and VVS1 clarity. Framing the pink stone is a colored diamond pavé-set surround with an openwork reverse. According to Christie’s predictions, the necklace was slated to sell for between $7.1 million and $10 million. The awe-inspiring piece exceeded those expectations, though, when the winning bidder offered $10,191,763.

Bulgari Three-Stone Colored Diamond Ring

What’s better than one rare colored diamond? Several, of course. This ring, which was signed and marked by Bulgari, features three cut-cornered rectangular-cut stones: a VVS2 clarity fancy vivid blue diamond that weighs 2.03 carats, a SI1 clarity fancy vivid purplish-pink diamond weighing 1.51 carats and a VVS1 fancy vivid yellow diamond weighing 1.47 carats. Framing the colored stones is a baguette-cut diamond surround and brillant-cut diamond shoulders, all of which are mounted in gold. Christie’s only expected the ring to rake in between $900,000 and $1.1 million. However, the final selling price smashed those predictions – the ring fetched $2.97 million, more than triple the estimate.