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Thursday, October 7, 2010

Pink Diamond Ring Fetches $7.7M at Hong Kong Auction

A 6.43-ct. fancy pink vivid diamond and diamond ring by Van Cleef & Arpels was sold for $7.7 million Thursday by Sotheby’s Hong Kong. It was the top prize in the fall jewelry and jadeite auction that produced a record sale of $54 million for the auction house in another display of China’s growing wealth.

The pink center stone is flanked on each side by a cluster of pear shaped and brilliant cut diamonds, embellished to the shoulders with brilliant cut diamonds, weighing approximately 1.60 cts. The gems are mounted in platinum and 18k white gold.

A pair of fancy vivid yellow diamond and diamond pendent earrings sold for nearly $5 million. The earrings are suspended on an emerald-cut fancy vivid yellow diamond weighing approximately 21 cts and surmounted by an oval diamond each weighing 2.02 cts., to stylized open-work frames set with brilliant-cut diamonds, mounted in platinum.

      In addition, a matched pair of unmounted brilliant cut diamonds, each weighing 10.88 cts., was sold for $4.8 million, a world-record price per carat for any round white diamond.

Sotheby’s Hong Kong Magnificent Jewels and Jadeite Autumn Sale 2010 held at the new wing of Hong Kong Convention and Exhibition Centre sold 302 lots out of the 390 lots offered (77.4 percent).

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