Will Sotheby’s Geneva Jewels Auction Meet Fancy Color Diamond Demand?
May 17th, 2016 by Noam Flint
The diamond and jewelry auctions that take place in Geneva biannually are known to showcase some of the world’s rarest and most expensive diamonds. All year, investors and collectors alike look to the Geneva auctions for the most important gems of the year, and price records are almost always set in kind.
The Geneva auctions are also known to feature the most pieces above $1 million in value. This May 17, Sotheby’s Magnificent Jewels and Noble Jewels auction will feature an amazing 30+ items valued at over $1 million! Three of these are even worth above $10 million! Let’s have a closer look.
One Auction – Three Colored Diamonds Worth Over $10 Million
The last item being offered at the auction is the always the auction’s star. Bidders wait anxiously for the final lot to come under the hammer, and only big players with major liquidity ever manage to acquire these extremely impressive diamonds or gemstones.
“The Unique Pink”
The Unique Pink
“The Unique Pink” is definitely the star of this Sotheby’s auction. Its claim to fame is that it is the largest Fancy Vivid Pink pear shaped diamond to ever be offered at auction. The Unique Pink is a 15.38 carat Fancy Vivid Pink Diamond, pear shaped and with VVS2 clarity. The estimated value for it by the auction house is between $28 million to $38 million, or $1.82 million to $2.47 million per carat.
SEE ALSO: Is there a problem with 5 carat pink diamonds?
The spread in valuation encompasses and surpasses the current record holders in the pink diamond category for price per carat for a pink diamond but not for total price paid for a pink diamond. The current record holder for price per carat is the 5.00 carat Fancy Vivid Pink diamond sold back in 2009 for $2.155 million. The current record holder for the total price for a pink diamond is still held by the Graff Pink at $46.16 million, which exceed Sotheby’s high estimates for the Unique Pink. However, it remains to be seen whether a buyer will want the Unique Pink so badly that they will exceed even the Graff Pink’s total price.
7.32 carat Internally Flawless Vivid Blue Diamond
7.32 carat Fancy Vivid Blue Diamond IF
Image credit: Sotheby’s
The next highest valued diamond does not have a special name like the pink diamond. Lot #494 is an exceptional 7.32 carat Fancy Vivid Blue Internally Flawless pear shaped diamond. The diamond is valued by the auction house at a price between $15 million to $25 million, or $2.05 million to $3.415 million per carat.
In order to beat a world record, it would have to surpass the current record holder in the 5-10 carat Fancy Vivid Blue diamond category. This honor is held by the 9.75 carat Zoe Diamond, which sold for $3.35 million per carat. Maybe this pear shaped diamond can beat the Zoe’s record since it has an Internally Flawless clarity, as opposed to the Zoe’s VS1 clarity. That may count toward someone’s inclination to pay.
Blue Diamond Brooch by Alexandre Reza
The third most interesting diamond of the evening is Lot #405. It is a blue diamond brooch made by brooch was made by Alexandre Reza, featuring a 6.64 carat Fancy Intense Blue SI1 marquise shaped diamond. The center stone is flanked by a 2.01 carat Fancy Intense Blue VVS2 and a 1.01 carat Fancy Intense Blue VS2 pear shaped diamonds. It is valued between $10 million to $14 million dollars. Its ultimate price will be attracted by the color rather than the low clarities, which also means that it probably will not break records in the Fancy Intense Blue 5-10 carat category.
6.64 carat Fancy Intense Blue marquise shaped diamond brooch by Alexandre Reza
The Emperor Ruby
Finally, the honorable mention for the evening is the “Emperor Ruby”. In the last 2 years, rubies have been gaining traction and breaking records. This can largely be attributed to the worldwide desire for colored gems and they are looking toward gemstones to get the qualities of both color and size at a more affordable price. The current record holder is the 25.59 carat “Sunrise Ruby” at $1.185 million per carat. The 7.03 carat Emperor Ruby is valued at $5m to $8 million and if it sells for its high estimate, it can break the Sunrise Ruby’s record.
The 7.03 carat Emperor Ruby
Image credit: Sotheby’s
Will any of these diamonds break a record? Will the Emperor Ruby steal the show from the pink and blue diamonds? Tell us what you think in the comments!