THE ORANGE
The largest fancy vivid orange diamond in the world
Image by Christie’s

Smashing predictions

Initially, Christie’s expected “The Orange” to fetch between $17.4 and $20 million at the auction. However, it ended up selling for much more: $35.5 million, or $2.4 million per carat. As a result, the gem set the world record not only for the sale of a fancy orange diamond, but also for price per carat for any colored diamond sold. The bidding started at 10 million Swiss francs, but didn’t take long to reach 20 million Swiss francs. Then the pace slowed down with interested parties raising the bids by half-million francs. On Christie’s live Internet feed, it seemed as if a few of the bidders in the room were competing with interested buyers that were making offers on the phone. After the winning bid was made and the Christie’s auctioneer shouted “Sold!” the crowd of 200 people erupted into applause. The private collector who had the winning bid quickly left the room. He wishes to currently remain anonymous.

Breaking records

Why all the fuss about this particular stone? “The Orange” is the largest fancy vivid orange diamond to ever be graded by the Gemological Institute of America. The 5.54-carat “Pumpkin Diamond,” which had a light hue and brown undertones, previously held the top slot. After being sold at a Sotheby’s auction for $1.32 million in 1997, it was set in a ring, which was sported by Halle Berry when she won the Academy Award for Best Actress. Before that, the 4.77-carat Graff Orange diamond sold for $3.92 million in 1990.

Clearly, “The Orange” has far surpassed those records. François Curiel, International head of Christie’s Jewelry Department, was not surprised by its smashing success at the auction.

“Time and again, a stone will appear on the market that is truly a miracle of nature, he said, as quoted by Rapaport. “The 14.82-carat orange diamond is one such a stone, a rare gem, which will perhaps only be seen once in a lifetime. In the sale on Tuesday, it soared far above all previous records for any orange diamond ever sold at auction, placing ‘The Orange’ among the greatest pinks and blues, which are traditionally the most appreciated colored diamonds.”

Extraordinary color and carats

According to the GIA, pure orange diamonds, otherwise known as “fire diamonds,” are extremely rare. Typically, these stones have secondary colors in them, such as yellow, that make their orange hue less intense. The more nitrogen that’s present during the diamond’s creation, the richer the orange shade. Not only that, but the GIA noted that diamonds with such a strong orange hue don’t usually exceed three of four carats once they are polished, meaning that “The Orange” is nearly four times larger than the average stone of its kind. This pear-shaped diamond was found in South Africa. It was classified as a Type Ia and graded as VS1 clarity in the GIA report.

“To have one that’s over 14 carats is exceptional,” Christie’s international jewelry director David Warren told AFP. “… Colored diamonds are real freaks of nature. They begin as white diamonds, and it’s some accidental coloring agent in the ground that will turn it a particular color.”

As more collectors realize the rarity and radiance of fancy vivid orange diamonds, they will likely continue to set records at future auctions.

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THE ORANGE
The largest fancy vivid orange diamond in the world
Image by Christie’s

Ready to break records

“The Orange” is a 14.82-carat, pear-shaped vivid orange diamond. It’s heading to the auction block Nov. 12, but before it is sold to the highest bidder by Christie’s Geneva, the stone went on display in Hong Kong. Experts believe the gem will command around $20 million, which would result in a record price of approximately $1.3 million per carat.

“This will become already a new world record per carat for any orange diamond,” Rahul Kadakia, head of jewelry for Christie’s Americas, told CNBC. “Then, there’s a question of how big a world record it will create.”

Of course, any records that the diamond breaks will be almost exclusively due to its size and color. Orange diamonds are incredibly rare, and to find one of this caliber and weight may be a once-in-a-lifetime occurrence.

“Christie’s [is] really thrilled to have this orange diamond in our sale in Geneva,” senior international jewelry specialist David Warren told CBS. “It is probably one of the rarest diamond we’ve ever sold. In all the years that I’ve been here, which is most of my life, I’ve never seen a stone like this.”

A safe investment

The $20 million price tag may turn some prospective buyers away, but others are drawn to the beauty – and the economic value – of this colored diamond. In fact, these stones have become a popular choice for investors, many of whom want a tangible way to show off their wealth. Others believe it is a smart option because the price of colored diamonds continues to go up as the word spreads about these stunning gems.

If you want to buy something … that is eventually going to keep going up because there’s only so much of it around, a diamond is your investment, Over the last 10 years, [diamonds] have gone up 300 percent. I don’t think any asset class has done that. (Kadakia told CNBC.)

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THE ORANGE
The largest vivid orange diamond in the world
Image by Christie’s

‘The Orange’

Fans of orange diamonds will want to pay attention to the upcoming Christie’s Geneva auction, which will feature a show-stopping gem known simply as “The Orange.” This fancy vivid orange diamond weighs in at 14.82 carats and features a gorgeous pear shape. It is expected to headline Christie’s auction of Magnificent Jewels thanks to its rare color, excellent clarity and impressive size.

“It’s very, very good, but it has natural imperfections,” Alan Bronstein, a diamond consultant who knows the stone, told Bloomberg. “As far as orange diamonds go, it has no peer. It’s unpredictable what a diamond like that can go for. We are entering uncharted waters.”

It’s odd that a gem this spectacular hasn’t entered the public eye before. For 30 years, “The Orange” has been in the private collection of an anonymous owner, and its first foray into the limelight will come when prospective buyers get a glimpse of the stone at the auction. Early estimates have the orange diamond selling for approximately $17 million to $20 million at November’s auction.

A record-breaking diamond

Because “The Orange” boasts such a bold shade, it stands apart from similar colored diamonds. Also called fire diamonds, these stones are usually found in secondary colors that tend to feature more yellowish tones. The few that have been polished and sold at an auction have been less than six carats – and “The Orange” is more than twice that size.

Pure orange diamonds are among the rarest gems in the world, which makes a find of this size, color and quality particularly special. Even the Gemological Institute of America delivered high praise to the stone for these categories.

“In the laboratory’s experience, strongly colored diamonds in the orange hue rarely exceed three or four carats in size when polished,” the GIA claimed. “[This diamond] is almost four times larger than that size range. In GIA’s colored diamond grading system, as the color appearance of strongly colored diamonds transitions from yellow to orange the occurrence becomes progressively more rare – that is, the less yellow present, the more rarely they occur.”

Christie’s auction

This precious gem is just one of the many colored diamonds that have made waves recently. With all of the hype surrounding these stones, the anticipation for Christie’s Nov. 12 auction is reaching a high point. “The Orange” is only one quality jewels that are scheduled to go up for auction at the Geneva sale. There are more than 280 lots that are slated to be included in this sale – some of which are sure to draw a fair amount of attention.

One of the most-publicized items includes an art deco emerald and diamond necklace that once belonged to Egypt’s Princess Faiza, daughter of King Fouad, which is expected to sell for up to $3.7 million. A $4.5 million pearl and diamond necklace and a $2.8 million ruby and colored diamond ring are also set to command plenty of attention and high bids during the November sale.

“With the magnificent Patino emerald suite and diamond ring, the Princess Faiza emerald drop necklace by Van Cleef & Arpels, the stylish jewels of Madame Helene Rochas, a Princely Art Deco emerald and diamond sautoir by Cartier, a Royal natural pearl necklace and the largest vivid orange diamond in the world, Christie’s Geneva is proud to offer collectors the best of the best in the world of jewelry on Nov. 12,” said Rahul Kadakia, head of jewelry for Christie’s Switzerland and Americas.

Although these other pieces will command plenty of attention, it is “The Orange” that will likely steal the show, just as a few orange diamonds have done before it.

‘The Pumpkin Diamond’

Before “The Orange” came on the scene, the largest orange diamond ever sold was “The Pumpkin Diamond.” That 5.54-carat stone was the only other fancy vivid orange diamond to sell at an auction – other peers have not been on the same level with regard to their color and quality. “The Pumpkin Diamond” was notable for its intense light color, which featured some brown undertones.

It was sold at a Sotheby’s auction in 1997 to Ronald Winston of Harry Winston Inc. for $1.3 million. He set the stone in a ring and surrounded it with two smaller white diamonds, and the piece was worn by Halle Berry to the Academy Awards in 2002 when she won the Best Actress trophy. It is currently valued at more than $3 million.

With that said, just to help you understand the importance of the actual color and how each diamond is unique and different we have gathered for you six diamonds from our collection. As you can see, each diamond is different. But the fact is that they were all graded the same by the GIA – Natural Fancy Vivid Yellow Orange.

Pumpkin Diamonds – GIA Vivid Yellow Orange Diamonds

To view all of the lots at Christie’s, visit here

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Today, Belgium is considered to be the nexus of Europe’s diamond trade, and it has been so for some time. But between three hundred and four hundred years ago, the capital of the continent’s diamond industry was its neighbor to the North, the Dutch Republic. Although Antwerp returned to prominence as the port city of choice for northwestern Europe, Amsterdam continued to boast of a thriving diamond industry. About a century ago, it employed two thousand workers, and of these, Jewish people made up approximately half of the laborers and ninety percent of the diamond cutters and polishers. Amsterdam is still colloquially referred to as the ‘Diamond City’ and it even has a particular cut named after it, the Amsterdam Cut.

A century and a half ago, the Asscher family, developers of the Asscher Cut Diamonds, established its diamond cutting business in the city and has since gone on to cut some of the world’s most famous diamonds, including the Exelsior and the Cullinan. In the final year of her rule, Holland’s Queen Juliana bequeathed upon the company a majestic title, in recognition of its body of work. So when the Netherlands ordained a new ruler last week, the Royal Asscher Diamond Company returned the favor by launching a special and beautiful jewelry collection containing orange diamonds. The set includes three white and orange diamond rings, forged out of either silver or gold, and set with orange sapphires – starting price $2,575. The choice of the color orange, exceedingly rare for colored diamonds, is a nod to the family’s official color and the title Willem-Alexander held before becoming king: the Prince of Orange.

On the day of the coronation, Amsterdam’s population doubled to over a million and a half people, as guests packed the city to get a look at the new monarch and his wife, the Queen Maxima, who left them star-struck with her regal platinum tiara, containing no fewer than 655 diamonds. But with all of the pomp and circumstance, Willem-Alexander publicly expressed his humility, saying that under his rule, Dutch people won’t have to call him “your majesty” – unless they want to.

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