Sotheby's Geneva Sells Important And Rare Fancy Vivid Blue Diamond For Record $9 488 754

GENEVA, 12TH MAY 2009 – Tonight Sotheby’s spring Magnificent Jewels sale series realised a strong total of $35 762 327 (CHF 39 567 975/ € 26 474 140) and was 76.9% sold by lot and 91.3% sold by value. The centerpiece of the Magnificent Jewels auction series – an important and rare fancy vivid blue, internally flawless, cushion-shaped diamond weighing 7.03 carats from Petra Diamonds’ historic Cullinan mine – realised $9 488 754 (CHF 10 498 500 / €7 024 336) against a pre-sale estimate of $5.8-8.5 million (CHF 6.8-10 million). This total represents the highest price for a fancy vivid blue diamond sold at auction and the record price per carat for any gemstone sold at auction ($1 349 752). The winning bidder, who wishes to remain anonymous, is yet to exercise their privilege to name the stone. The auction series comprised one of the most important private collections to come to auction in recent years, A Celebration of Taste and Style, which achieved a total of $7 116 227 (CHF 7 873 500 / €5 268 001) and was 78.8% sold by lot and 94.6% sold by value, in addition to Sotheby’s third annual Noble Jewels sale, which exceeded its top presale estimate and raised a total of CHF 5 234 300 ($4 730 865 / €3 502 165) and was 87.5% sold by lot and 95.5% sold by value.

Commenting on tonight’s sale, David Bennett, Chairman, Europe & the Middle East, Sotheby’s International Jewellery department, said: “We are very pleased with tonight’s sale series total and strong sell-through rate, which demonstrate the continued demand for rare jewels of exceptional quality and provenance. We are particularly thrilled with the price achieved for the exceptional fancy vivid blue diamond, and its record price per carat as the highest for any gemstone sold at auction. It has been very exciting and rewarding to work so closely with Petra Diamonds and to follow the progress of this remarkable gem over the last few months and through to its auction success on the international stage this evening.”

Magnificent jewels
The centrepiece of the Magnificent Jewels sales series was the fancy vivid blue, internally flawless, cushion-shaped diamond weighing 7.03 carats. Following heated bidding that lasted for over 15 minutes the remarkable stone realised of $9 488 754 (CHF 10 498 500 / €7 024 336). The pre-sale estimate of this stone was $5.8-8.5 million/ CHF 6.8-10 million. The diamond, cut from a 26.58 carat rough, was discovered in 2008 at Petra Diamonds’ historic Cullinan diamond mine in South Africa. The Gemological Institute of America (GIA) has graded the stone as fancy vivid blue in colour and internally flawless in clarity, the highest possible grading for a blue diamond.

Petra Diamonds CEO Johan Dippenaar commented: “The price achieved at the Sotheby’s auction for this exquisite, internally flawless blue diamond is a world record by value per carat and the highest price to be achieved by a fancy vivid blue diamond, and reflects how incredibly rare and collectable such an important blue diamond is to the connoisseur. The renowned Cullinan mine continues to captivate the world with spectacular diamonds, building on its legacy as the source of some of the world’s most famous gems. This has been a very successful partnership with Sotheby’s, one of the pre-eminent names in jewellery sales, and has provided the perfect platform to garner international recognition for a gem of this calibre.”

Two further diamond highlights in the Magnificent Jewels sale include an exceptional type IIa fancy intense pink pearshaped diamond of 5.29 carats which sold for $2 048 508 (CHF2 266 500 / €1 516 470) and a magnificent marquise modified brilliant-cut fancy vivid yellow diamond weighing 18.13 carats, from the property of an International Collector, which achieved $1 065 152 (CHF1 178 500 / €788 511).

Magnificent jewels f from a private collec rom collection tion tion: a celebration of tas taste and style
One of the most important private collections to appear at auction in recent years, A Celebration of Taste and Style, realised a total of $7 116 227 (CHF 7 873 500 / €5 268 001) this evening. Pieces signed by Harry Winston were highly sought-after: a very important sapphire and diamond bracelet, dated 1968, designed as a flexible curved band of circularand brilliant-cut diamonds, embellished with five step-cut sapphires of Burmese and Ceylon origins, sold for $1 390 527 (CHF 1 538 500 / €1 029 380) against a pre-sale estimate of $450 000-650 000; a highly important pair of sapphire and diamond pendent earrings set with four octagonal Burmese step-cut sapphires realised $739 777 (CHF 818 500 / €547 642); a magnificent diamond necklace/bracelet set with marquise- and pear-shaped diamonds, dated 1975, whose front is set with eleven marquise-shaped diamonds, alternating with stones of other shapes, fetched $815 698 (CHF 902 500 / €815 698 / €603 845); and a fine diamond necklace designed as a line of marquiseshaped diamonds, suspending a pendant set with a step-cut sapphire of Burmese origin weighing 37.49 carats brought $457 000 (CHF 506 500 / € 338 889).

Noble jewels
The third consecutive annual Noble Jewels sale held at Sotheby’s Geneva exceeded its pre-sale high estimate, realising a total of $4 730 865 (CHF 5 234 300 / €3 502 165), and was 87.5% sold by lot and 95.5% sold by value. The highlight of this section of the sale was a selection of aquamarine and diamond jewels made by Cartier in 1912, which was originally part of the collection of Olga, Princess Paley, Countess of Hohenfelsen. Following enthusiastic bidding, the prices fetched were well above their pre-sale estimates: the aigrette sold for CHF 566 500 ($512 014 / €379 034), the necklace for $392 710 (CHF 434 500 / € 290 715) and the devant de corsage for $164 947 (CHF 182 500 / €122 107). Each of these lots had pre-sale estimates of $100 000-150 000.

There was a high level of active bidders, both present in the room and on the phone, for a further Noble Jewels highlight which doubled its pre-sale estimate: a pair of diamond bracelets that belonged to Queen Theresa of Bavaria, née Princess of Saxony-Hildburghausen, the wife of King Ludwig I of Bavaria, sold for $ 170 370 (CHF 188 500 / € 126 122) , well in excess of its pre-sale estimate of $82 000.

From the collection of Diane Benvenuti, née Rothschild, a diamond bracelet signed by Cartier and dated 1927 realised $154 101 (CHF 170 500 / € 114 078) almost doubling its pre-sale estimate of $52 000-78 000.

Finally, a pair of spinel and diamond pendant ear clips, dated end of the 18th Century, from the property of a German Princely and Liechtenstein Ruling Family, which was most probably part of the Collection of Wilhelm, 2nd Duke of Urach, Count of Württemberg and his 2nd wife , Wiltrud, Princess of Bavaria, sold for $ 105 295 (CHF 116 500 / €77 948) against a pre-sale estimate of $18 000-25 000.

Published in: on May 13, 2009 at 8:12 am  Leave a Comment  
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