Signed Jewels That Sparkle At Sotheby’s Hong Kong Sale

Unique pair of ruby and diamond bangles by Bhagat and a diamond, sapphire and emerald ‘Panthère’ Ring by Cartier. All photos courtesy of Sotheby's

Among the approximate 196 lots at Sotheby’s Hong Kong “Magnificent Jewels and Jadeite Spring Sale” are an Art Deco mystery clock by Cartier, a pair of ruby and diamond bangles by famed Indian designer, Bhagat, and a gem and diamond necklace by Mauboussin. 

You may have also heard about a particular 59.60-carat pink diamond known as the “Pink Star.” 

While the focus will be deservedly on the Pink Star, there are many other jewels, gems and art objects that will be offered at the April 4 sale at the at the Hong Kong Convention and Exhibition Centre. Among the highlights are: 

Art Deco Gem Set and Diamond Mystery Clock, ‘Le Ciel’ by Cartier, 1928
This collection of clocks produced by Cartier between 1922 and 1931 incorporated antique Chinese jade carvings from the 18th and 19th centuries. Le Ciel is one of only thirteen clocks from the collection still known to exist, according to the auction house. The dial is embellished with bejeweled shooting stars and planets on a night sky. The dial is supported by two antique jade carps. Its estimate is $1.36 million - $1.81 million.

Important Jadeite and Diamond Demi-Parure
Being a Hong Kong sale, jadeite will always play starring role. The necklace in this set consists of seven highly translucent oval jadeite cabochons of brilliant emerald green color, embellished with circular-cut diamonds. It comes with a matching set of jadeite cabochon earrings. Its estimate is $2.58 million $3.87 million.

Gem Set and Diamond Pendent Necklace by Mauboussin
This colorful necklace by the Parisian jeweler features circular- and single-cut diamonds, embellished with sapphires, rubies and emeralds, accented by black enamel. The diamonds weigh approximately 18 carats. Its estimate is $765,000 - $970,000.

Fine Diamond Bracelet by Harry Winston
Designed as six rows of pear-shaped diamonds decorated with circular-cut diamonds, the platinum necklace has a total diamond weight of approximately 124.06 carats. Its estimate is $258,000 - $323,000.

Unique Pair of Ruby and Diamond Bangles by Bhagat
Sotheby’s refers to the Indian jewelry brand as “one of the greatest living jewelers,” with works that represent a fusion of artistry and craftsmanship that draws inspiration from classic Indian themes. Each bangle is set with 38 oval rubies (60 carats), to the edge of floral motifs embellished with circular-cut diamonds (30 carats). Its estimate is $252,000 - $361,000.

Diamond, Sapphire and Emerald ‘Panthère’ Ring by Cartier
This panther ring is pavé-set with circular-cut diamonds weighing approximately 4.50 carats, embellished with sapphire spots, emerald eyes and an onyx nose, mounted in platinum. Its estimate is $194,000 - 258,000. 

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59-Carat ‘Pink Star’ Diamond Could Fetch At Least $60 Million In Sotheby’s Second Attempt To Sell It

Courtesy of Sotheby's 

“The Pink Star” diamond will be given a second chance to smash world auction records. The Largest Internally Flawless Fancy Vivid Pink diamond ever graded by the Gemological Institute of America will be placed on the auction block for the second time at Sotheby’s Hong Kong Magnificent Jewels and Jadeite sale on April 4.

The 59.60-carat oval-cut diamond has an estimate is more than $60 million, which, if matched, will be a world auction record. 

The diamond first sold for a remarkable $83 million at Sotheby’s Geneva in November 2013, a figure that remains the highest ever for a diamond to this day. However, in February 2014, in its annual report, Sotheby’s said the consortium of buyers, led by diamond cutter Isaac Wolf, had defaulted on the sale. The diamond was placed in its inventory valued at approximately $72 million. The auction house reportedly had to buy back the diamond for $60 million because it had guaranteed that price to the original seller of the diamond.

Courtesy of Sotheby's

In June 2016 Sotheby’s announced it has entered into a partnership with two other firms, Diacore and Mellen Inc., for the diamond. 

Diacore is a multi-national company that specializes in the manufacturing of large, fancy colored and rare stones. The company said it was the original owner of the 132.50-carat rough diamond that created the Pink Star.

Mellen Inc. is a third generation, family run private jeweler based in New York.

View a video of The Pink Star diamond on Sotheby's website.

“At a time of unprecedented demand for the finest in colored diamonds, I am delighted to be bringing this magnificent stone back to the market,” David Bennett, worldwide chairman of Sotheby’s Jewellery Division, said in a statement. “The extraordinary size of this 59.60-carat diamond, paired with its richness of color, surpasses any known pink diamond recorded in history.” 

Currently, the world’s most valuable diamond sold at auction is the 14.62-carat “Oppenheimer Blue,” which sold for more than $57.5 million at Christie’s Geneva sale held May 18, 2016. The Pink Star has the possibility of not only breaking the record but shattering it. 

Courtesy of Sotheby's

The Pink Star is graded as Type IIa, which is rare for any pink diamond, much less one of this size and color. It originated from a 132.5-carat rough mined by De Beers in 1999 and was cut and polished over a period of two years. The Pink Star is more than twice the size of the Graff Pink—a 24.78-carat fancy intense pink diamond that established a world auction record for any pink diamond sold at auction. It sold for $46.2 million, at Sotheby’s Geneva in 2010. 

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World’s Biggest Diamond Sale Becomes World’s Biggest Diamond Default

Sotheby’s said Thursday that the high-bidder of the 59.6-carat “Pink Star” diamond that sold for a world record price of $83.2 million has defaulted.

Diamond cutter Isaac Wolf, who said he was representing unnamed investors, outbid three rivals for the gem at Sotheby’s Geneva Magnificent Jewels Sale held in November. He renamed it the “Pink Dream.”

Wolf was unable to pay for the flawless fancy vivid pink diamond, according to the auction house’s annual report. It is now part of Sotheby’s inventory valued at approximately $72 million

According to a report on CNBC, the auction house had to buy back the diamond for $60 million because it had guaranteed that price to the original seller of the gem, whose identity is unknown.

In a conference call with investors Thursday, Patrick McClymont, Sotheby’s CEO, said the auction house is still talking with Wolf about the future of the diamond.

“We are currently in discussions with the buyer while also considering other alternatives,” he said. “In the meantime, we are comfortable with our valuation and see real value in owning the diamond at this price.”

Wolf in a YouTube video explaining the purchase said he was representing a group of investors and considered the diamond to be worth about $150 million, based on current prices for pink diamonds of similar quality.

“It’s not that I’m buying this with the money that I have in my piggy bank,” Wolf said. “It’s basically a group of investors—financial people—that are backing me on this and they are doing this as an investment, and hopefully to make a big profit.”



The diamond is graded as Type IIa, which is rare for any pink diamond, much less one of this size and color. It is twice the size of any vivid pink diamond ever brought to auction and the largest known diamond rated vivid pink. David Bennett, chairman of Sotheby’s Jewellery Division in Europe and the Middle East and chairman of Sotheby’s Switzerland, said the diamond is one of the most important gems he has seen in his 35-year career.

“It is difficult to exaggerate the rarity of vivid pink diamonds weighing only five carats,” he said prior to the auction. “So this 59.60 carat stone is simply off any scale, and passes, I believe, into the ranks of the earth’s greatest natural treasures.”

The oval-cut gem was the highlight of the November auction in Geneva. It was estimated to fetch more than $60 million. The bidding opened at $48 million and lasted for about five-minutes before Wolf made the winning bid.

The diamond was originally mined in South Africa in 1999 as a 132.5-carat rough by De Beers. It was cut by the Steinmetz Diamond Company over a two-year period and was formerly known as Steinmetz Pink. In 2003, it was shown publicly in Monaco and was displayed at the Smithsonian Institute as part of its “Splendor of Diamonds” exhibit, according to Wikipedia. The Pink Star was sold privately in 2007.

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The Pink Star Diamond Fetches World Auction Record Of $83 Million

The 59.6-carat Pink Star diamond lived up to its hype by selling for a world record price of approximately $83.4 million at Sotheby’s Geneva Magnificent Jewels sale Wednesday.

When introducing the internally flawless fancy pink vivid diamond, David Bennett, chairman of Sotheby’s Jewellery Division in Europe and the Middle East, called it “one of the most remarkable gems to ever appear at auction.”

Bidding opened at 48 million Swiss francs and gradually climbed to 64 million Swiss francs. After a pause it quickly climbed to 67 million francs ($73.2 million), shattering its $60 million high estimate. Nervous laughter could be heard on Sotheby’s live feed as the bidding slowly pushed up to the winning bid 68 million Swiss francs. Commission fees pushed the final total to more than 76.3 million Swiss francs ($83.4 million).

The diamond is graded as Type IIa, which is rare for any pink diamond, much less one of this size and color. Cut over a period of two years, The Pink Star is more than twice the size of the Graff Pink—a 24.78-carat fancy intense pink diamond that established a world auction record for a diamond and any gemstone or jewel at $46.2 million, at Sotheby’s Geneva in 2010. The current record price per carat for a fancy vivid pink diamond of $2,155,332 is set by a 5-carat diamond, sold in Hong Kong in January 2009. The current record price for any colored diamond sold at auction is $2,398,151 per carat, for “the Orange,” a 14.82-carat fancy vivid orange diamond that sold a day earlier at Christie’s Geneva Magnificent Jewels auction. The per carat price for the The Pink Star has yet to be released and will be updated.

Cut by Steinmetz Diamonds over a period of nearly two years from a 132.5-carat rough, the diamond was first unveiled to the public in May 2003 as the “Steinmetz Pink.” The stone was first sold privately in 2007 and renamed The Pink Star.

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