Orangy Pink Diamond Record Broken on Sotheby’s Magnificent Jewels Auction

May 2nd, 2014 by Noam Flint

There were high hopes for the Sotheby’s spring Magnificent Jewels auction in New York April 29, and it did not disappoint. With more than 450 lots and a varied rainbow of natural color diamonds, the event promised to be full of excitement.

The pieces in these collections were highly sought after, featuring uncommon gems that could pique even the most discerning diamond investor’s interests. A striking selection from the estate of Eydie Gorme, a member of the iconic pop vocal duet Steve and Eydie, included some eye-catching pieces, while vintage Cartier jewels from the Art Deco period – some signed – also certainly made a splash.

According to the Israeli Diamond Industry, Sotheby’s aimed to rake in more than $37 million at this auction. Did they meet the sales expectations? No – the auction house exceeded it, fetching more than $44.3 million in total.

Here are some of the jaw-dropping jewels that made waves at this event.

Round Vivid Yellow Diamond Ring

The round fancy vivid yellow diamond at the center of this ring weighs a notable 6.84 carats, but that’s not the only reason why it’s impressive. With pear-shaped diamonds weighing 3.40 carats on either side and small 0.40-carat round pink diamonds bordering the center stone as well, the ring resembles a gorgeous flower for a look that exudes femininity and glamour. Sotheby’s estimated that it would sell for between $300,000 and $500,000 – and the auction house was not far off. The highest bidder paid $389,000 for this stunner.

Deep Pink and Blue Diamond Ring

Among the rarest diamond colors are pink and blue. Moreover, it can be even harder to find a deep pink stone or a greenish blue one. So it should go without saying that this ring, which features stones in both hues, attracted major attention at the auction. A cut-cornered square modified brilliant-cut 1.5 carat fancy deep pink diamond is the dazzling centerpiece. The blue green diamond color combination is one of the most desired and this ring features both. The pink center stone is flanked one side by a 0.26-carat fancy deep blue green diamond and a 0.22-carat rectangular modified brilliant-cut fancy deep greenish blue diamond. Not only that, but the setting itself contains 0.26-carats for added sparkle factor. Sotheby’s predicted that the ring would rake in $500,000 to $700,000 and their estimate was right on the money – it sold for $533,000.

New Record Set – 15 carat Intense Orangy Pink Diamond Ring

Without question, the much-hyped highlight of the Magnificent Jewels auction was this ring, and it makes sense. With a highly unusual cushion-cut intense orangy pink diamond graded VS2 clarity and weighing 15.23 carats, it’s unlike anything most collectors have seen. The blush stone has an undeniable romantic appeal, and with such an exquisite shape, it looks much like the diamonds found in royal and historically significant collections. Even the mounting is striking, with 0.76-carat round diamonds set in the band. It should come as no surprise then, that the Sotheby’s estimate was between $6 million and $7 million. The ring went to the highest bidder for just over the minimum prediction: $6.1 million. That makes this piece the top seller for the evening.

Furthermore, as Sotheby’s matched their sales prediction, this ring set a new record for both the total price paid as well as the price per carat for an intense orangy pink diamond. Passing the previous record by more than 20% only six months after it was set.