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Wednesday, April 22, 2015

100-Carat Diamond Sells For $22 Million At Sotheby’s


Sotheby’s called it the “perfect’ and “ultimate” diamond and “unlike any other before.” Now it can be called the $22 million diamond.

The 100.20-carat, D-Color, Internally Flawless, emerald-cut diamond was easily the top lot Tuesday at Sotheby’s New York Magnificent Jewels sale.

The Type IIa gem joins a group of only five other diamonds of more than 100 carats with similar attributes that have been sold at auction worldwide, the auction house said. The gem is further distinguished by its emerald cut, making it the largest perfect diamond with a classic emerald-cut ever to be offered at auction.

The gem came from a rough that weighed more than 200 carats and was mined by De Beers in southern Africa. It took more than a year to craft the diamond from the rough.


Gary Schuler, head of Sotheby’s Jewelry Department in New York, compared the diamond to “a pool of icy water.”

The sale price (which includes buyer’s premium) was within its estimate and amounts to $220,459 per carat. The buyer was not named.

The auction totaled nearly $65.1 million in which 79.9 percent was sold by lot and 84.4 percent by value. The other best-selling lots were dominated by colored diamonds and gems, particularly Kashmir sapphires. Cartier pieces were also in high demand.

The other top lots from the Magnificent Jewels sale are as follows:

* A 22.30-carat Internally Flawless oval diamond ring sold for $3.25 million ($145,740 per carat).

* The 35.02-carat Flagler Emerald, described as an important emerald-cut classic Colombian emerald and diamond pendant, sold for $2.77 million ($79,098 per carat)—well above its high estimate of $1.5 million.

* The Baron de Rothschild Necklace, described as an emerald, sapphire, lapis lazuli and diamond pendant-Necklace, designed by Charles Jacqueau for Cartier, Paris, circa 1924, sold for $2.59 million.

* A 6.24-carat, pear-shaped fancy purplish pink diamond with VVS2 clarity and Kashmir sapphire ring and sold for $2.4 million ($386,218 per carat).

* An 11.41-carat, Internally Flawless, round-cornered rectangular modified brilliant-cut fancy light pink diamond and diamond ring sold for $1.9 million.

* An 11.90-carat Kashmir sapphire and diamond ring of by Cartier, circa 1915, sold for $1.9 million ($162,185 per carat).

* Iconic emerald, ruby, diamond and enamel ‘Tutti Frutti’ Bracelet, Cartier, New York, circa 1928, sold for $1.6 million.

* 14.33-carat marquise-shaped diamond ring, D color and VVS1 clarity, sold for $1.15 million ($80,251 per carat).

* A 17-carat Kashmir sapphire and diamond brooch by Schlumberger for Tiffany & Co., circa 1960, formerly from the collection of Mrs. Paul Mellon sold for just over $1 million ($60,588 per carat).

Please join me on the Jewelry News Network Facebook Page, on Twitter @JewelryNewsNet and on the Forbes website.

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