Highlights from the Upcoming HK Jewelry auction – Christie’s 2014

May 12th, 2014 by Noam Flint

While all eyes are set to tomorrow’s Geneva sale that will feature The Blue, The Ocean Dream and the Rajah – our eyes are already gazing to the HK sale that will occur only two weeks later – on May 27^th.

The sales are always set to exhibit a collection of each – amazing colorless diamonds, amazing gems and amazing colored diamonds.

The upcoming sale is no different besides for maybe showing a truly extraordinary collection on each section.

UPDATE: See Auction Results

After a long time where the auctions were completely ruled by colored diamonds, this time, both highest priced items are colorless.

The first is a superb Golconda Diamond pendant that features a 40.05ct D Internally Flawless pear shaped diamond and surmount by an old mine cut D Internally Flawless diamond weighing 6.76 carats and decorated with a Colombian Emerald. Both diamonds are GIA certified and are type IIa – a very rare type of diamonds with exceptional optical transparency (less than 2% of gem quality diamonds are qualified as Type IIa). The estimated price is $8.6M – $10.3M.

The second most expensive lot at this sale belongs to pear shaped diamond earrings weighing over 25 carats each and are GIA graded as D Internally Flawless. The estimation range here is bit wider and is $8.4M-$12.3M.

Size VS Color – The colorless version

Higher quality diamonds are by far more rare (for whatever reason of the 4Cs) and with rarity comes pricing in an exponential manner. This sale shows us a great example of the effect it has on pricing (or at least the price estimation at this stage).

Two loose colorless diamonds are sold separately – both are round, triple ex (excellent cut, polish and symmetry) and both graded by the GIA as Type IIa and both are estimated the same at $4.1M – $6.5M each. The minor differences are that one is a 26.2 carat D Flawless while the other is a 40.52 carats F Internally Flawless.

This means that the D FL is estimated at roughly $150,000 – $250,000 per carat and the F Internally Flawless is estimated at $100,000 – $160,000 – a vast difference.

Featured Colored Diamonds

Blue and white diamond pendant

A 12.05 carat D Internally Flawless diamond suspended from a gorgeous 2.04 carat cushion cut Intense Blue Diamond with si1 clarity estimated at $1.6M – $2.3M.

While the intense blue diamond might seem unimportant, being only two carats “dangling” above a 12 carat D FL you should note that this “small” diamond is worth hundreds of thousands of dollars on its own…

In fact, if “all you want” is the blue diamond, then you should consider the other blue that is featured at the auction – a 1.06 carat cushion cut vivid green blue diamond ring flanked with two high-quality half 0.50 carat white diamonds – estimated at approximately $200k.

Orangy pink diamond ring by Harry Winston

The diamond is GIA certified as 12.93 carat fancy orangy pink with vs2 clarity and excellent polish. It is cut as an emerald shape which is a very unorthodox shape for a fancy color diamond.

The price estimation is at $1.6M – $2.6M – which comes to $120,000 – $200,000 per carat.

Intense green diamond ring

Rare 6.13 carat intense green diamond ring with vs2 clarity surrounded by small pink diamonds and mounted onto rose gold setting.
This diamond is estimated anywhere between $2.6M-$3.9M – a price that is highly supported by the sale of two green diamonds last month for millions.

With natural green diamonds being so rare (especially pure intense greens of this size), no one can truly estimate the price – it just needs the right buyer.

5.64 carats Violet Gray Diamond Ring by Taffin

While this diamond made no fuss and is technically “only” a gray diamond, it has one of the most sought-after and rare colors. Gray diamonds are quite rare. They are usually seen with additional colors such as green, yellow, blue and violet. This can be either when the gray is the modifier or like in this case where the gray is the primary color.

Between all color combinations in which gray diamonds are involved, the rarest is as in this case – the violet. This diamond is simply spectacular and finding one that is over 5 carats and with vvs clarity is truly extraordinary – in fact, it is the largest of its kind I have ever encountered. The price estimation is $360k-$490k – a very interesting price tag for a one of a kind diamond.

Pink Diamond Bracelet

Everybody knows that pink diamonds are rare. So a bracelet made of nine certified oval pink diamonds weighing 0.20ct-0.37ct and ranging in color from fancy intense purplish pink, fancy pink and fancy intense pink is simply… gorgeous. Price estimation is $180,000 – $230,000.

Last but not least, our favorite for the auction is no other than the:

9.38 carat intense pink diamond ring

A pear shaped pink diamond with spectacular color. The diamond’s GIA certificate does not include clarity check (a “color only” certificate) which usually implies of a lower range clarity though from the pictures this mesmerizing diamond does not appear to have distinguished clarity issues.

The price estimation is $5,800,000 – $8,400,000 ($620k-$895k per carat). This appears to be somewhat high price estimation considering 7 months ago Christies sold an 8.77 carat intense pink diamond for $6,325,000. However, back then, the diamond was qualified a Type IIa pink diamond and had a VVS1 clarity. On the other hand, a month ago they sold a 6.10 carat Intense Pink Diamond Ring by Harry Winston (also Type IIa and VVS1) for $5.7 Million…

Is this another example of how colored diamonds prices are going up?

Update: Auction Results

The 9.38 carat pear pink diamond sold for $5,965,527 – at the lower range of the estimation.

12.93 carat rare pink diamond ring by Harry Winston surprised and achieved more than twice the original low estimation – selling for $3.6 Million.

6 carat intense green diamond sold for $3.6 Million – A very honorable price of $594k per carat!

However, what seems to be the biggest surprise was the one that did not sell.
The much anticipated Golconda diamond necklace that featured a 40 carat D flawless diamond and was expected to sell for $10 Million did not reach the low estimation…

Don’t worry about Christie’s though… The auction achieved US$91,951,200 even without the Golconda…