Updated: Fancy Colored Diamond Earrings Sell For World Record $57.4 Million

The Apollo and Artemis fancy colored diamond earrings sold for $57.4 million—a world record for earrings sold at auction.

The mismatched earrings were sold separately and were the top two lots at Sotheby’s Geneva Magnificent Jewels and Noble Jewels sale Tuesday.

The 14.54-carat, pear-shaped Apollo Blue was the big prize of the pair. It sold for more than $42.08 million (including buyers premium), within its estimate of $38 – $50 million.

Meanwhile, the 16-carat, pear-shaped Artemis Pink, sold for more than $15.3 million (including buyers premium), within its estimate of $12.5 – $18 million.

The two diamonds are named after the twin brother and sister who are among the most widely venerated of the Ancient Greek deities.

Update: Sotheby’s said later in the evening that both diamonds were purchased by the same person, who was not identified. “I am delighted that the stones will remain together as earrings,” David Bennett, worldwide chairman of Sotheby’s International Jewelry Division and chairman of Switzerland, said following the sale.

The Apollo Blue is the largest internally flawless fancy vivid blue diamond ever to be offered at auction, Sotheby’s said. It was graded as a Type IIb diamond, which amounts to less than 1% of all diamonds. In recent years, the only mine to produce blue diamonds with any regularity is the Cullinan mine in South Africa. When in full production, less than 0.1% of diamonds sourced showed any evidence of blue color, according to the Gemological Institute of America, which graded both diamonds and issued reports on them. An infinitesimally small percentage of those is graded Fancy Vivid Blue.

The Artemis Pink is a fancy intense pink diamond graded by the GIA as a Type IIa diamond, describing this category as “the most chemically pure type” of diamonds. The occurrence of pink diamonds is exceedingly rare. According to the GIA, of all diamonds it grades each year, “no more than 3% are classified as colored diamonds; less than 5% of those colored diamonds are predominantly pink.”

Other updated information:

In other news from the Sotheby’s sale, a 7.04-carat diamond by Piaget sold for more than $13.2 million, setting auction records for a fancy intense purplish pink diamond and for the price per carat for such a diamond at more than $6 million per carat.

The sale for the first time held at the Mandarin Oriental, Geneva, totaled more than $151.5 million, well above the presale estimate in the region of $100 million, with a sell-through rate of 90%. Three lots sold for more than $10 million and five sold for more than $5 million. Two-thirds of the lots sold above high estimate.

Other notable results from the auction include:

* Gem and jewels from a “Superb Private Collection” of diamonds and gemstones as well as signed jewels from iconic jewelry houses, doubled presale estimates to realize a combined total of $15.9 million and a sell-through rate of 96%. Items include the following:

- A 32.42-carat pear-shaped diamond ring by Harry Winston doubled its low estimate to realize more than $3.3 million;
- An emerald and diamond ring by Harry Winston achieved five times its estimate selling for $929,465; and
- A ruby and diamond brooch and ear clips by Van Cleef & Arpels which sold for a combined total of $477,551.

* A ruby, onyx and diamond bracelet by LaCloche, circa 1925, soared above estimate to achieve $748,498.

* A jadeite onyx, ruby and diamond pendant brooch by Cartier, Circa 1925, formerly in the collection of Mona, Countess von Bismarck, sold for $374,500, more than double its high estimate.

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Mismatched Diamond Earrings Could Fetch $68 Million At Sotheby’s

Courtesy of Sotheby's

A mismatched pair of fancy colored earrings, offered as individual lots, will lead Sotheby’s spring sale of Magnificent Jewels and Noble Jewels, May 16 at the Mandarin Oriental, Geneva. Together the auction house says they make up the most valuable set of earrings ever sold at auction.

“The Apollo Blue,” a 14.54-carat fancy vivid blue diamond, will be presented with an estimate of $38 – $50 million and “The Artemis Pink,” a 16-carat fancy intense pink diamond, has an estimate of $12.5 – $18 million.

“The Apollo and Artemis diamonds will be the stars of our May sale in Geneva—by far the most important pair of earrings ever offered at auction,” said David Bennett, worldwide chairman of Sotheby’s International Jewellery Division. “These exquisite colored diamonds are enormously rare and each is a wonderful stone in its own right. Together, as a pair of earrings, they are breathtaking.”

They are named after Apollo and Artemis, a twin brother and sister among the most widely venerated of the Ancient Greek deities. 

The pear-shaped Apollo Blue is the largest internally flawless fancy vivid blue diamond ever to be offered at auction, Sotheby’s said. It was graded as a Type IIb diamond, which amounts to less than 1% of all diamonds. In recent years, the only mine to produce blue diamonds with any regularity is the Cullinan mine in South Africa. When in full production, less than 0.1% of diamonds sourced showed any evidence of blue color, according to the Gemological Institute of America, which graded both diamonds and issued reports on them. An infinitesimally small percentage of those is graded Fancy Vivid Blue.

The pear-shaped Artemis Pink, graded by the GIA as a Type IIa diamond, describing this category as “the most chemically pure type” of diamonds. The occurrence of pink diamonds remains exceedingly rare: according to the GIA, of all diamonds submitted to their specialists each year, ‘no more than 3% are classified as colored diamonds; less than 5% of those colored diamonds are predominantly pink’. 

“Thus, a fancy intense pink stone of such rich color and impressive size can only be described as phenomenally rare,” the auction house said.

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24-Carat ‘Cullinan Dream’ Fetches $25.3 Million

The “Cullinan Dream,” the largest and most expensive fancy intense blue diamond ever sold at auction, fetched $25.3 million Thursday at Christie’s New York Magnificent Jewels sale. 

The 24.18-carat cut-cornered rectangular mixed-cut gem was the top item. Its price was at the low end of its $23 – $29 million estimate.

The diamond, set on a platinum ring flanked with classic baguette-cut diamonds, is nearly 10 carats larger than the 14.62-carat “Oppenheimer Blue,” which sold for a world auction record of $57.5 million and was previously the largest blue diamond ever sold at auction.

Among those in the audience was Mark Cullinan, an international jewelry dealer and the great grandson of Sir Thomas Cullinan, who discovered Petra's Cullinan Diamond Mine in 1898, where the Cullinan Dream originated. The Cullinan mine has been associated with some of the most significant blue and pink diamonds to come to market, including the 10.1-carat “De Beers Millennium Jewel 4,” that sold for $31.8 million at Sotheby’s Hong Kong in April; and the 12.03-carat “Blue Moon” that sold for $48.4 million at Sotheby’s Geneva in November 2015.

“It was a great pleasure to be in New York for this exciting auction and to see the fantastic price achieved for a diamond representing a new generation of discoveries from Petra's Cullinan Diamond Mine,” Mark Cullinan said. “My great-grandfather would be delighted to see how one of the newest exceptional blue diamonds from the mine he discovered resonates with top collectors in the market today.”

The Cullinan Dream is the top item among the 260 lots on offer at Christie’s New York sale that achieved more than $42.2 million, including four items that sold for more than $1 million. 

The other top lots of the auction include:

* A 52.76-carat oval brilliant-cut diamond mounted on a platinum ring that sold for just over $2 million.

* A 51.06-carat cut-cornered square modified brilliant-cut fancy intense yellow diamond mounted in 18k gold that sold for more than $1.6 million. 

* Diamond earrings, each suspending a cushion brilliant-cut diamond, weighing approximately 21.21 and 20.80 carats, from a graduated trapezoid-cut diamond line to the circular-cut diamond French wire, mounted in platinum, which sold for $1.3 million. 

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World of Diamonds To Unveil ‘The Jane Seymour’ Blue Diamond Ring

“The Jane Seymour,” a platinum ring set with 2.08-carat cushion-cut fancy vivid blue diamond

The World of Diamonds Group, one of the world’s largest privately held diamond corporations, will unveil “The Jane Seymour,” a platinum ring plated with rose gold set with a rare 2.08-carat cushion-cut fancy vivid blue diamond. The jewel has been named after the internationally renowned British-American star and will be presented April 25 during a private dinner party honoring her at CÉ LA VI Singapore. 

Seymour will wear the ring at the event and then the jewel will become part of the World Diamond Group's private collection.

From the mining of the diamond in Russia, to the crafting of the jewel in Geneva, all of the work was done by the international diamond company.

Blue diamonds of this size and saturation are among the rarest and most sought after gems in the world, commanding extremely high prices at auctions the past few years. However, World of Diamonds Group claims this ring is priceless due to its association with the multitalented actress, producer, philanthropist, painter and businesswoman. The jewel is accompanied by a handcrafted leather “treasure chest.”

“The invitation to behold this creation would rather you not compare The Jane Seymour to anything else in the high jewelry world,” said Karan Tilani, director of World Of Diamonds Group. “It is a celebratory treat, more comparable to a mega-yacht or a ticket to the moon.”

The handcrafted leather “treasure chest” that houses the ring

At the same event in the restaurant and nightclub Seymour will receive an amethyst (her birthstone) weighing more than 20 carats.

Seymour is in Singapore to star in the British Theatre Playhouse’s production of “The Vortex” by Noel Coward, at Jubilee Hall Theatre inside Raffles Hotel, Singapore. As a key supporter of the play, World of Diamonds Group will host a VIP showing on April 29, followed by the “Art For Charity” gala at Raffles. The event is titled “Great Gatsby, Red Carpet Glamour,” and guests include Singapore President Tony Tan and his wife, Mary Tan, the EU Ambassador to Singapore, Michael Pulch, and the British High Commissioner Scott Wightman.

The Ville de Genève diamond necklace

At the event Seymour will wear the Ville de Genève diamond necklace, boasting an18.18-carat Fancy Vivid Pink Diamond. The handcrafted 18k white gold jewel, modeled after coniferous trees in the Alps, is additionally adorned with 456 round brilliant diamonds, (D-F, VVS, 37.70 total carat weight); and 55 marquise brilliant diamonds, (D-F, IF-VVS, 1.65 total carat weight). The necklace is valued at approximately $24.3 million, according to the company, which again was involved in every stage of creating the jewel. The Jane Seymour blue diamond ring will also be on display.

Jane Seymour

Seymour has received an Emmy Award, two Golden Globe Awards and a star on the Hollywood Walk of Fame. She is distinguished as an Officer of the Order of the British Empire. Among her acting accomplishments, she was a “Bond Girl” in “Live and Let Die,” played Queen Marie-Antoinette in “La Révolution française,” appeared in “Young Winston” as Winston Churchill's lover, and starred on the American television series “Dr. Quinn, Medicine Woman.”

The World Of Diamonds Group specializes in the mining, manufacturing, distribution and marketing of diamonds and diamond jewelry. It is based in Russia with offices for its various operations throughout the world.

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Shirley Temple Blue Diamond Doesn’t Sell

Sotheby’s saleroom during bidding on the Shirley Temple Blue Diamond

The much hyped and anticipated sale of the Shirley Temple Blue Diamond had an unsatisfactory ending Tuesday. 

It was the last item of Sotheby’s New York Magnificent Jewels sale. Bidding on the 9.54-carat gem stalled at $22 million when Lisa Hubbard, who led the auction, abruptly ended the sale. The result was a collective gasp and confusion among buyers and others in the Sotheby’s salesroom while Hubbard, co chairman, North and South America International Jewellery, and Sotheby’s staff quickly left the room. 

A little while later, the auction house issued a formal statement: 

“The Shirley Temple Blue Diamond is an exceptional stone in quality, rarity and provenance.  It has been an honor to share its story with collectors, connoisseurs and Temple’s loyal fans over the past few months.  Unfortunately, tonight wasn’t its night in the salesroom, but we remain fully confident that it will find a buyer.”

The Shirley Temple Blue Diamond

The Fancy Deep Blue, Potentially Internally Flawless, VVS2 clarity diamond set in a ring was owned by the child actress and American diplomat throughout her life. It has an estimate of $25 – $35 million. Her father purchased the ring in early 1940 around the time of her 12th birthday for $7,210.

The sale of more than 300 pieces saw took in more than $29.8 million with several items being pulled because of insufficient bids. Among the top lots are the following:

* A 12.45-carat brilliant-cut Fancy Purplish Pink diamond set on a platinum ring with diamonds fetched more than $4.5 million, within estimates.

* A 19.25 emerald-cut diamond on a platinum ring flanked by two modified calf's head-shaped diamonds sold for nearly $2.3 million, just over its estimate.

* A 15.37 carat emerald cut diamond on a platinum ring sold for more than $1.5 million, within estimates.

* A 5.06-carat  pear-shaped Fancy Light Blue diamond on a platinum ring flanked by flanked by bullet-cut diamonds saw spirited bidding, eventually selling for $1.45 million, nearly three times its high estimate. 

* Also seeing aggressive bidding was a 9.57-carat cushion-cut sapphire on a platinum ring flanked by two kite-shaped diamonds by J.E. Caldwell sold for nearly $1.1 million.  

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Statement Colored Gems Up For Auction This Week In New York

The 9.54-carat Shirley Temple Blue Diamond

Following the $32 million sale of the De Beers Millennium Blue at Sotheby’s Hong Kong in April, blue diamonds continue to be in high demand at international auction houses around the world. However, blue isn’t alone as statement pink and yellow diamonds as well as sapphires and rubies are commanding lofty prices. 

The upcoming auctions in New York this week by Sotheby’s, Christie’s and Bonhams will be presenting plenty of colorful stones to meet this demand. 

The most anticipated lot is the 9.54-carat Shirley Temple Blue Diamond that will be placed on the block Tuesday at Sotheby’s Magnificent Jewels sale. The Fancy Deep Blue, Potentially Internally Flawless, VVS2 clarity diamond ring was owned by the child actress and American diplomat throughout her life. It has an estimate of $25 - $35 million. Her father purchased the ring in early 1940 around the time of her 12th birthday for $7,210.

The auction of more than 300 pieces also has other colorful delights, including a platinum ring set with a 12.45-carat cushion modified brilliant-cut Fancy Purplish Pink diamond with Natural Color, VS2 clarity, with an estimate of $3 - $5 million; and a 30.81-carat pear-shaped Fancy Vivid Yellow diamond with Natural Color and VS2 clarity with an of $1 - $1.5 million.

The 15.99-carat Jubilee Ruby

Meanwhile, Christie’s Magnificent Jewels sale Wednesday will feature the Jubilee Ruby, a 15.99-carat oval-shaped Burmese ruby set on a platinum and 18k gold ring designed by Verdura. The gem is surrounded by circular-cut diamonds. Its estimate is $12 - $15 million.

“Top quality Burmese rubies of over 15 carats are an absolute rarity in the world of colored gemstones,” said Rahul Kadakia, Christie’s International head of Jewelry. 

Other statement colored gems among the more than 250 lots on sale include a 10.07-carat Fancy Intense Purple-Pink diamond ring with an estimate of $8 - $12 million; and a 54.62-carat rectangular modified cut Fancy Vivid yellow diamond with an estimate of $1.5 - $2.5 million. 

The three days of auctions begins Monday (today) at Bonhams New York with a sale of more than 100 lots of jewels including three Kashmir sapphires and other examples of Burmese and Ceylon sapphires.

8.07-carat Kashmir sapphire and diamond ring 

The top lot is an 8.07-carat Kashmir sapphire and diamond ring with an estimate of $400,000 – 600,000. It is believed that Bernard Golson (1879-1983), who often worked for foreign governments on special projects, bought the sapphire ring for his wife in the early 1920’s. Golson is known to have worked with the Guggenheims and aided U.S. authorities in the pursuit of Pancho Villa. This lead to his family being chased out of Mexico by Villa, losing their belongings and having to sew family heirlooms into their clothes during their escape to the United States. 

I plan to be covering the late sessions of the Sotheby's and Christie's auctions on Twitter @JewelryNewsNet

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Buyer of $48.4 Million ‘Blue Moon’ Diamond Revealed

The Blue Moon. Photo credit: Cora International/Tino Hammid

The 12.03-carat “Blue Moon” sold for more than $48.4 million Wednesday, eclipsing world auction records for any diamond, gem or jewel at Sotheby’s Geneva Magnificent Jewels and Noble Jewels sale Wednesday.It's the first diamond or gemstone to surpass $4 million per carat, another auction record.   

The cushion-shaped Internally Flawless Fancy Vivid blue diamond sold within its $35 million to $55 million estimate.

The buyer has been identified as billionaire Hong Kong real estate investor Joseph Lau, according to news reports, the same person who paid a record $28.5 million for a 16.08-carat cushion shaped fancy vivid pink diamond at Christie’s Geneva sale on Tuesday. He reportedly named both diamonds after his seven-year-old daughter, Josephine. “The Blue Moon of Josephine” for his most recent purchase and “Sweet Josephine” for the pink diamond.

The second highest price ever paid for a blue diamond at auction was $32.6 million in Nov 2014 for the “Zoe Diamond” and the second highest price ever paid for a diamond at auction was $46 million for the “Graff Pink” in 2013, according to Ehud Laniado, chairman of Cora international, the seller of the Blue Moon.

“The Blue Moon diamond, a Fancy Vivid Blue stone, is a true gift of nature,” Laniado said. “A jeweler has the chance to handle a unique diamond like this only once in a lifetime if they’re lucky and we are thrilled at Cora to have had this opportunity.”

There is no other known blue diamond with this combination of size and characteristics, added gemologist Gary Roskin, executive director of the International Colored Gemstone Association.

“The Blue Moon Diamond is a magnificently beautiful and rare colored gemstone,” Roskin said. “It is Internally Flawless, right at the top of the clarity grading scale (alongside Flawless), and Fancy Vivid Blue, right at the top of the color grading scale. These are extraordinary combinations in any size, let alone 12 carats. There really isn’t another one out there to buy—at least one that we know of.”

Laniado noted that only four of 400 diamonds graded by the Gemological Institute of America received a grade of vivid blue. “Even amongst this extremely rare class of blue diamonds, to find one Vivid Blue diamond which is over 12 carats and internally flawless, really only happens once in a blue moon.”

In addition to its size and impeccable characteristics, its origin is known, which is rare. The gem was created from a 29.62-carat rough diamond discovered in January 2014 at the Cullinan mine in South Africa (owned by Petra Diamonds), the world’s largest source of fancy blue diamonds (although it accounts for less than 0.1 of its diamond output) and some of the most famous colorless diamonds on earth. Cora International paid a reported $26 million for the rough. 

“It took Cora experts five months to assess the rough stone,” Laniado said. “They then created 30 models of the diamond and cut each one differently until they achieved the perfect result. It took three more months to bring the Blue Moon diamond to its ultimate spectacular shape using advanced technology and sophisticated tools.”

"The star of the evening, the ‘Blue Moon of Josephine’ was discovered at the Cullinan Mine, which is owned by Petra Diamonds, and was polished to perfection by Cora International," said David Bennett, Sotheby’s worldwide chairman of Jewellery. "It now takes its place among the world’s greatest diamonds.”

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'Blue Moon' Diamond May Fetch $55 Million At Sotheby's

The 12-carat Blue Moon. Photo credit: Cora International/Tino Hammid

A little over a year ago I was invited to view a 12-carat blue diamond, known as the “Blue Moon” prior to its only public exhibition at the Natural History Museum of Los Angeles County.

Suzette Gomes, CEO of Cora International, a manufacturer of diamonds and jewels known for working with statement diamonds, showed the gem on a plain gray tray under office lighting. When asked of its value, she became annoyed barking the word “priceless” a couple times.

Well it turns out that priceless has a price as it will go up for auction at Sotheby’s with an estimate of $35 to $55 million. Any successful bid at the high end of this estimate will shatter the record for a blue diamond, which is $32.6 million paid in November 2014 in Sotheby’s New York for a pear-shaped 9.75-carat rare Fancy Vivid Blue Diamond Pendant owned by Bunny Mellon.

For Gomes and Cora International, it will present what should be a healthy profit for the 29.62-carat rough it purchased for a reported $26 million even after the costs—which include cutting and polishing it into the 12-carat Blue Moon (which took three months, according to Sotheby’s, after five months of study), exhibiting and travel fees and auction commissions.

There are very few people in the world with the means and desire to purchase such a diamond so Sotheby’s has no doubt been in contact with them and must be fairly certain that the gem, now set on a ring, will meet its estimate—and perhaps surpass it. It is obviously the top lot of its November 11 Magnificent Jewels & Noble Jewels sale in Geneva.

The Blue Moon presented to the press at Sotheby's London in September. Photo credit: Sotheby's

So, what the makes the Blue Moon so valuable?

First, it’s size. At 12.03 carats, it is the largest cushion-shaped Fancy Vivid Blue diamond ever to appear at auction.

Second, its report from the Gemological Institute of America. The organization graded the gem as Internally Flawless and Fancy Vivid Blue, the latter being the highest possible GIA grade, David Bennett Sotheby’s International Jewellery Division chairman, reportedly said, adding that about four of the approximately 400 blue diamonds graded by GIA received the “Fancy Vivid Blue” grade. GIA also gave the gem a Type llb classification, meaning that it contains the chemical element boron, which gives blue diamonds its color by being trapped in the crystal structure during its formation.

Third, it’s pedigree. While statement diamonds do come to the market quite often these days, it’s rare that their origin is known. In this case, the 29.62-carat rough was mined in January 2014 at the Cullinan mine in South Africa. The mine is known for producing the top source for blue diamonds in the world but these gems still only account for 0.1 percent of its total diamond output, according to Gomes. It is also the source of at least two other important blue diamonds: the 30.62-carat “Blue Heart,” Fancy Deep blue stone on display at the Smithsonian Institution and the 27.64-carat Fancy Vivid blue “Heart of Eternity.” However, the mine’s most famous find is a colorless 3,106.75-carat diamond discovered in 1905. The rough diamond was cut into several polished gems. The largest is the 530.4-carat “Cullinan I” or “Great Star of Africa;” followed by the 317.4 carat “Cullinan II” or the “Second Star of Africa.” Both gems are in the Crown Jewels of the United Kingdom.

The Blue Moon in the Cora International office, taken in August 2014. Photo credit: Anthony DeMarco

Fourth, it’s color. Gomes and Sotheby’s are describing the Blue Moon as “ocean blue,” “velvet blue,” etc… When I saw it the conditions weren’t ideal but I described it as aqua blue and translucent with the facets appearing as if they are wavelets on water. The blue is also evenly displayed throughout the gem.

Fifth, the combination of these factors. When looking at the pedigree, being Internally Flawless, Fancy Vivid Blue, and over 12 carats, it becomes a once in a lifetime offering. As one gemologist told me, “Try to go find another…. or even anything remotely like it and you’ll come up with a big goose egg.”

So while Gomes’ presentation skills may need polishing, her skill at identifying and buying quality rough; and making and selling world class diamonds is top notch.

Next week we’ll learn its true value. 

A version of this story also appears on my Forbes.com blog

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World’s Largest Flawless Vivid Blue Diamond May Fetch $25 Million

The Blue

A 13.22-carat blue diamond is the lead item at Christie’s Geneva Magnificent Jewels sale May 14. Known as “The Blue,” the auction house says it is the largest flawless vivid blue diamond in the world. It has a pre-auction estimate of $21 to $25 million.

The Ocean Dream

Another highlight of the 250-lot auction at the Four Seasons Hotel des Bergues is what the auction house is calling the largest fancy vivid blue-green diamond in the world to come to auction. Known as “The Ocean Dream,” the 5.50-carat gem has an estimate of $7.5 to $9.5 million. “The combination of its size, natural origin, hue, and saturated color makes it an extremely unusual occurrence,” Christie’s said in a statement.

Other diamonds expected to generate strong international interest include a 76.51-carat light pink cut-corned diamond set as necklace centerpiece by diamond dealer Lev Leviev with an estimate of $7 to $10 million (pictured above); and a 75.97-carat pear-shaped D-color flawless diamond with an estimate of $13.5 million to $15 million (pictured below).

The 250 lot sale is estimated to fetch a total of $80 million, Christie’s said. It includes the following:

* A collection of 14 jewels from a “European Gentleman” under the heading, “A Passion for Jewels.” It includes the Rajah diamond, a 26.14-carat, old-mine brilliant-cut diamond with an estimate of $3 to $5 million. 

* Another highlight of “A Passion for Jewels” collection is the Belle Époque Devant-de-Corsage brooch, crafted in 1912 by Cartier. It is estimated to fetch $7 million to $12 million. 

* 20 pieces from the Estate of Baroness Thyssen-Bornemisza de Kaszon will be another highpoint of the auction led by a natural pearl and diamond necklace estimated at $550,000 to $700,000.

* A five-strand necklace composed of 87, 81, 76, seventy-one and 65 natural pearls with an estimate of $2 to $3 million.

* A 21.41-carat cushion-shaped Alexandrite with no indications of treatment and a distinct color-change from green to purple with an estimate of $500,000 to $700,000. 

* A necklace made of seven Mughal engraved spinel beads that date back to the 17th century with an estimate of $1.5 to $2 million. 

* A three rectangular-cut diamond ring designed by JAR with an estimate of $330,000 to $460,000. Proceeds will benefit Ospendale Pediatrico Bambino Gesu in Rome and the Pediatric department of the Ospedale San Paolo in Milan.

* Mystery-set ruby and diamond ear pendants, entitled Entrée en scène, was part of the “Une journée à Paris collection Van Cleef & Arpels launched in 2006 as an homage to Paris. It has an estimate of $200,000 to $310,000.

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A Record $30.6M Achieved for 118-Carat White Diamond; 7.5-Carat Blue Diamond Fails To Sell

A 118.28-carat D-flawless diamond fetched $30.06 million at Sotheby’s Hong Kong Magnificent Jewels sale Monday. It is a world record price for any white diamond at auction. 

The unmounted, oval-shaped diamond is the largest white diamond ever sold at auction and the largest oval D-flawless diamond in the world as graded by the Gemological Institute of America. GIA graded the diamond, reportedly about the size of an egg, as D color, flawless clarity, with excellent polish and symmetry. The diamond was also graded as a Type IIa, making it among the most chemically pure type of diamond with exceptional optical transparency.

The diamond was cut from a 299 carat rough diamond discovered in 2011 from a mine in Southern Africa.

However, there was a disappointment for the evening as a 7.59-carat round fancy vivid blue diamond failed to sell. Known as the Premier Blue, this brilliant-cut internally flawless gem is the largest round fancy vivid blue diamond ever graded by the GIA. Sotheby’s said the round brilliant cut is rarely used in colored diamonds due to the high waste involved in the cutting process. The diamond is mounted on a platinum ring and surrounded by brilliant-cut pink diamonds together weighing approximately 1.70 carats.

The auction held at the Hong Kong Convention and Exhibition Centre took in nearly $95.5 million, making it the highest total for a sale of jewelry in Asia.

In addition to diamonds, jadeite was very popular during the sale. The top item in this category was a double-strand jadeite bead necklace that sold for more than $5.4 million.

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10.6-Carat Fancy Blue Diamond Has an Asking Price of $9.8 Million

The "Royal Blue" diamond

A 10.6-carat fancy blue diamond known as the “Royal Blue” is available through M.S. Rau Antiques in New Orleans. The asking price is $9.8 million.
 
Blue diamonds are among the rarest in the world so it seems unusual that this cut-corned, modified brilliant cut gem is the second significant blue diamond to appear on sale in August. A week earlier, Sotheby’s Hong Kong announced that it is offering a 7.59-carat round fancy vivid blue diamond that is estimated to fetch $19 million.

This stone has a VVS1 clarity grade, notable for having “very, very slight” inclusions, according to the report from the Gemological Institute of America. It is one step away from being graded as “internally flawless” under the GIA scale. The chemical that creates the blue in diamonds is boron, which this gem has.

The diamond is set on a platinum and rose gold ring surrounded by vivid pink and colorless diamonds.

Fewer than 0.3 percent of all colored diamonds graded by GIA were predominately blue. Gem expert and dealer Robert Procop, also the co-designer of Style of Jolie jewels with Angelina Jolie, knows as much as anyone when it comes to the rarity and historical significance of these gems.

“Blue diamonds are rarely discovered and only a few have been found over centuries of mining, making it one of the rarest gems of the world,” he said. “(They) have also been the most gifted by royalty and historical figures making them the most mysterious and precious of jewels. I rarely see a blue diamond that I do not admire.”

Large fancy blue diamonds have been sold for record-breaking figures at auctions and other sales, several have had illustrious provenance through its mine origins and ownership throughout centuries. The most famous blue is the Hope Diamond, last purchased by famed luxury jeweler, Harry Winston, who donated it to the Smithsonian National Museum of Natural History in 1958.

The asking price for the “Royal Blue” ring is more than $924,500 per carat, which seems a bit steep, particularly since it has no known provenance. However, it is only about half of the per-carat price of a 5.30 blue diamond purchased by another famed jeweler, Laurence Graff, at a Bonhams auction in London in April 2013. The final price was $9.6 million or $1.8 million per carat.

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Gary Roskin Interviews Maurice Galli

Image courtesy of Harry Winston

The career of a renowned jewelry designer and his relationship with the world famous Hope Diamond is the subject of a story on The Roskin Gem News Report.

Maurice Galli, 81, a professor of jewelry design, author and longtime senior designer for Harry Winston, Inc., has an illustrious career but there was one glaring hole in his résumé. Even though he has been employed at Harry Winston for more than 50 years and was mentored the company’s founder, Harry Winston, he never had the chance to design a piece of jewelry for the Hope Diamond, the famous blue diamond that was donated to the Smithsonian by Mr. Winston. Needless to say this has changed.

The story is told by Gary Roskin, who is no slouch himself in the world of precious gems. He is one of the world’s leading gemologists as well as a longtime educator and writer. Nearly a year ago, he was given access to the back room of the Smithsonian National Museum of Natural History Hall of Geology, Gems, and Minerals while 10 gem experts documented and examined the Hope and Wittelsbach-Graff blue diamonds, the two most famous blue diamonds in the world, to try to determine whether they were ever related. He has been writing about the event and its findings in a series of stories on his website. The Galli story is part of this ongoing series.

Big Bulgari Blue Diamond Ring May Earn $12M at Auction

The Bulgari Blue Diamond, circa 1972

Christie's auction house announced that it will offer “The Bulgari Blue Diamond”—a two-stone diamond ring designed by the Italian jewelry company in the 1970s—at its New York headquarters on October 20. The ring features a triangular-shaped, colorless diamond of 9.87 cts. paired with a triangular-shaped fancy vivid blue diamond of 10.95 cts.—the largest fancy vivid blue diamond of this cut ever to be offered at auction.

Fancy vivid blue diamonds of this size are among the rarest of colored diamonds, the auction house said. It is estimated that one in about 10 million diamonds will possess a color pure enough to qualify as “fancy vivid.” The ring will be priced upon request for prospective bidders, but is expected to achieve in excess of $12 million and is positioned to become one of the top-selling diamonds at auction in 2010.

“The appearance of this sensational jewel on the market is causing a huge stir amongst top jewelry collectors worldwide,” said Rahul Kadakia, head of jewelry for Christie’s Americas. “This ring’s exceptional quality, rarity and size combined with the coveted imprimatur of the house of Bulgari make this upcoming sale a truly special event in the world of jewelry and one that is certain to make auction history.”

The ring is being offered by a private European collector who has kept it in his family for almost 40 years. According to family tradition, the ring was given as a gift from the collector to his wife in celebration of the birth of their first baby boy. The final sale price in 1972 was about $1 million, a fortune at the time, Christie’s said.