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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The ‘Bao Đại” Watch Sets World Record For Any Rolex Sold At Auction

Rolex Reference 6062 “Bao Đại” chronograph sold for $5.06 million, setting a world record for any watch sold at auction at the Philips and Bacs & Russo Geneva watch sale held Saturday. It shattered its presale estimate of $1.5 million.

The auction house said the sale followed an “eight minute bidding war,” among 10 bidders in the packed room at the Hôtel La Réserve where the auction was held and three telephone bidders. It was sold to a phone bidder who was not identified. 

Rolex Reference 6062 “Bao Đại”

The Bao Đại chronograph is among the “most valuable and desirable Rolexes” and the “most complicated and iconic Oyster-cased model” ever made by the Swiss watch manufacturer, the auction house said. In addition to its rarity, this particular model also has imperial provenance. 

This Rolex triple calendar with moonphase in yellow gold is one of three black dial models known to exist with diamond markers. Of the three, the Bao Dai, is the only one to feature diamond markers at the even hours. 

The watch belonged to Bảo Đại, the last emperor of Vietnam. According to family legend, Đại (the 13th and last emperor of the Nguyễn Dynasty) purchased the watch in Geneva in 1954, while he attended a conference seeking peace in Indochina.

The “Bao Dai” first appeared on the market in 2002 and was sold by Phillips for what was at the time the most expensive Rolex ever, according to the auction house. A private collector was winning bidder and it had stayed in private hands since.

Aurel Bacs, senior consultant at Phillips, sold the watch at that time. 

It also happens to be the second time within 12 months that a Rolex watch sold at auction by Philips and Bacs & Russo in Geneva set a world record.

“The combination of the iconic name Rolex, its extraordinary rarity and originality, crowned by the imperial first owner, this world auction record result is a testimony that Phillips’ stringent approach of bringing only the finest quality collectors watches to the market is the winning formula,” Aurel Bacs said.

The two-day auction at the Hôtel La Réserve is continuing today (Sunday). 

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Graff Diamonds Reveals Largest D Flawless Heart-Shaped Diamond In The World

The Graff Venus

Graff Diamonds just unveiled “The Graff Venus.” At 118.78 carats, the London-based jeweler said it is the world’s largest D-color, flawless heart-shaped diamond.

This is a diamond that is not only large but is among the purest in color, clarity and cut. The D color grade means it is colorless, the top of the color scale for diamonds. It is flawless, the top of the clarity scale. It is a Type IIa diamond, meaning it is almost or entirely devoid of impurities. They make up between 1 and 2 percent of all natural diamonds.

The diamond also possesses excellent polish, excellent symmetry and no fluorescence—again the very highest accolades a diamond can achieve. 

The Graff Venus was cut from a 357-carat rough diamond discovered in 2015 at the Letšeng Mine in Lesotho, the company said, addition that Laurence Graff, the founder of the London-based high jewelry brand, “knew instinctively that hidden within its depths lay the potential to create diamond history—it displayed an outstanding size, color and clarity of the highest standard.” 

The company added, “A heart shape diamond must be perfectly faceted and entirely symmetrical to ensure a perfect silhouette and exquisite scintillation. The exceptional size of the heart required the development of special tools and new technologies. The process was incredibly risky and tense.”

From discovery to completion, the process of analysis, cutting and polishing the diamond took 18 months.

More than half of the world’s top 20 largest diamonds discovered this century have been cut and polished by Graff. 

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16-Carat Pink Diamond Fetches $28.5 Million, Sets New Auction Record

A 16.08-carat cushion-shaped fancy vivid pink diamond, the largest to be offered at auction, sold for more than $28.5 million, setting a new auction record for any vivid pink diamond at Christie’s Geneva Magnificent Jewels sale Tuesday.

The gem was purchased by a private Asian buyer, who named it “Sweet Josephine,” the auction house said. It sold just above its high estimate of $28 million. 

The diamond is set as a ring, with a double row of pavé-set white diamonds that surround the main stone, and a third row of small pink diamonds underneath. The band is comprised of small circular-cut white diamonds set in platinum.

In almost 250 years of auction history, only three pure vivid pink diamonds of over ten carats have appeared for sale, the auction house said prior to the sale.

While most pink diamonds exhibit a color modifier like purple, orange, brown or grey, this gem shows no trace of a secondary color, Christie’s said. In addition, it’s classified as a Type IIa diamond, which means it contains little if any nitrogen and accounts for fewer than 2 percent of all diamonds.

The pink diamond was the top lot of a sale that achieved nearly $109.5 million, with 80 percent sold by lot and 86 percent by value. More to come. 

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