Colored Diamonds Take the Spotlight at Upcoming Auctions

November 26th, 2013 by Noam Flint

Over the past few months, there have been a number of exciting auctions involving colored diamonds. From the “Pink Star,” which sold for a record-breaking $83 million, to “The Orange,” which raked in an impressive $35.5 million, it’s clear that jewelry enthusiasts around the world are becoming more focused on acquiring stones in vivid hues. This trend shows no sign of slowing down. In fact, several upcoming auctions are featuring jewelry with colored diamonds that are bound to be a major draw for collectors seeking something special.

A growing interest

Paul Redmayne-Mourad, Asia development manager for English jeweler David Morris, explained to The Wall Street Journal that in fact, many buyers across the world are becoming more intrigued by colored diamonds.

“Two years ago, the mainland Chinese buyers were just getting into big white diamonds and didn’t know anything about the colored ones,” he told the news source. “Now, they’re so sophisticated and savvy. They’re like amateur gemologists.”

He even noted that some people will have the precious stones taken out of the items they win at an auction and have them reset in custom jewelry. While Christie’s has been a major player in terms of colored diamonds as of late, some smaller firms are auctioning off these stones as well. In fact, Bonhams, an English firm that auctions everything from contemporary art and wine to cameras, has a jewelry sale coming up that could attract the attention of collectors. A stunning pendant with a 5.26-carat yellow diamond in the center, surrounded by smaller white diamonds, is expected to sell for up to $350,000, according to The Wall Street Journal.

“Many people feel that a diamond is more like an investment rather than a painting on the wall,” Graeme Thompson, Bonhams’ jewelry specialist, told the news outlet. “It’s a security blanket.”

A piece of history

Bonhams isn’t the only firm featuring colored diamonds. Sotheby’s will also be featuring a number of unusual jewels at their upcoming auction Dec. 11 in New York.

One of the private collections that is being sold comes from the family of an American heiress and has been hidden away in a locked vault for nearly 60 years. These awe-inspiring baubles offer a glimpse into the luxurious life of their former owner, who resided in Europe from the 1930s through the 1950s. The highlight of the auction is no doubt a fancy vivid yellow diamond and white diamond ring. At the center is a jaw-dropping square brilliant-cut 51.75-carat vivid yellow diamond. The ring is estimated to be valued at $2.5 to $3.5 million.

There will also be an emphasis on rare Egyptian revival jewels at the Sotheby’s auction. After King Tutankhamun’s tomb was found in 1922, there was an instant surge in interest around Egyptian arts, design, fashion and jewelry. As a result, Louis Cartier, an avid collector of Egyptian pieces, began to incorporate some of the ancient earthenware into jewelry settings that included colored diamonds. Only about 150 of these Egyptian-inspired jewels were created, and some of the rarest of these pieces will be presented in the auction this December. One of them is The Magnificent and Rare Egyptian-revival Faience and Jeweled Brooch, which is one of just two fan-shaped pins ever made by the jeweler.

There are other notable Egyptian-revival jewels to be offered by Sotheby​’s as well. A selection from the Estate of Iya, Lady Abdy, also features four of these pieces, two of which are signed by Cartier himself. Lady Abdy was a Parisian socialite in the 1920s and 1930s. A close friend of Coco Chanel, she was a trend-setter and style icon. The Rare and Important 18 Karat Gold, Platinum, Faience, Diamond, Colored Stone and Enamel “Sekhmet” Brooch is one of the remarkable pieces from her estate that will be auctioned off. Additionally, bidders will have the chance to buy the Platinum, Gold, Diamond, Faience and Colored Stone ‘Pylon’ Brooch, which Lady Abdy wore in a photoshoot for Vogue in 1928.