Coloured diamonds fetch strong prices at Sotheby's

Record ID: 78381

  • Title: Coloured diamonds fetch strong prices at Sotheby's
  • Date: 16th November 2016
  • Summary: GENEVA, SWITZERLAND (NOVEMBER 16, 2016) (REUTERS) GENEVA BY NIGHT HOTEL BEAU RIVAGE, AUCTION LOCATION HOTEL BEAU RIVAGE ENTRANCE HOTEL STAFF AND SECURITY VARIOUS OF AUCTION ONGOING FOR 17.07 CARAT INTENSE PINK DIAMOND RING ESTIMATED $12 TO $15 MILLION SCREEN WITH AUCTION PRICE INCREASING AS BIDS ARE BEING MADE, FROM CHF 9 MILLION (APPROX. $8,987,000) TO CHF 11 MILLION (APPROX. $10,985,000) TELEPHONE BIDDERS SCREEN WITH AUCTION PRICE INCREASING AS BIDS ARE BEING MADE, FROM CHF 16 MILLION (APPROX. $15,975,000) TO CHF 17.5 MILLION (APPROX. $17,473,000) MAN IN AUDIENCE FILMING THE AUCTION WITH HIS PHONE AUCTION ONGOING (SOUNDBITE) (English) SOTHEBY'S INTERNATIONAL JEWELLERY DIVISION CHAIRMAN DAVID BENNETT, SAYING: "Last chance... 18 million 300 thousand francs... Are we all done? Sold!" MAN IN AUDIENCE FILMING THE AUCTION WITH HIS PHONE (SOUNDBITE) (English) SOTHEBY'S INTERNATIONAL JEWELLERY DIVISION CHAIRMAN DAVID BENNETT, SAYING: "The pink diamonds performed extremely well. The intense pink 17.07 carats sold for 20.8 million - far more than its estimate, I think that was double its estimate - as did the stunning intense pink diamond of 13.2 carats which fetched 16.2 million dollars. And the fancy light pink, a 40 carat stone which sold for 7.5 million, all three of these were extraordinary high prices. So, coloured diamonds are very much in demand still and very healthy." CAMERAMAN (SOUNDBITE) (English) SOTHEBY'S INTERNATIONAL JEWELLERY DIVISION CHAIRMAN DAVID BENNETT, SAYING: "I think that people who want the rarest and the most beautiful are seeking out these rare treasures." GENEVA, SWITZERLAND (NOVEMBER 9, 2016) (REUTERS) VARIOUS OF 8.01 CARAT "SKY BLUE DIAMOND" ON TRAY 8.01 CARAT "SKY BLUE DIAMOND" BEING SHOWN BY MODEL GENEVA, SWITZERLAND (NOVEMBER 16, 2016) (REUTERS) SCREEN WITH AUCTION PRICE INCREASING AS BID ARE BEING MADE, FROM CHF 12.4 MILLION (APPROX. $12,381,000) TO CHF 13 MILLION (APPROX. $12,981,000) FOR 8.01 CARAT "SKY BLUE DIAMOND" AUCTION ONGOING BIDDERS MAKING BIDS ON THE PHONE (SOUNDBITE) (English) SOTHEBY'S INTERNATIONAL JEWELLERY DIVISION CHAIRMAN DAVID BENNETT, SAYING: "Fifteen million francs, for the sky blue diamond... Sold! 15 million." AUCTION ENDING GENEVA BY NIGHT
  • Embargoed: 1st December 2016 23:20
  • Keywords: Diamonds auctions Switzerland Geneva jewellery sale Sotheby's Christie's
  • Location: GENEVA, SWITZERLAND
  • City: GENEVA, SWITZERLAND
  • Country: Switzerland
  • Topics: Arts/Culture/Entertainment
  • Reuters ID: LVA00158P4RBT
  • Aspect Ratio: 16:9
  • Story Text:Coloured diamonds fetched high prices on Wednesday (November 16) at Sotheby's semi-annual jewel sale, with rare and large pink and blue stones finding new owners who paid in the double-digit millions for "rare treasures".
    A step-cut fancy intense pink diamond weighing 17.07 carats, set in a ring between triangular diamonds, netted $20.8 million, far exceeding its estimate of $12 to $15 million, to become the top lot.
    "The pink diamonds performed extremely well. The intense pink 17.07 carats sold for 20.8 million - far more than its estimate, I think that was double its estimate - as did the stunning intense pink diamond of 13.2 carats which fetched 16.2 million dollars. And the fancy light pink, a 40 carat stone which sold for 7.5 million, all three of these were extraordinary high prices. So, coloured diamonds are very much in demand still and very healthy," David Bennett, worldwide chairman of Sotheby's International Jewellery Division, told reporters.
    "I think that people who want the rarest and the most beautiful are seeking out these rare treasures", he added, after conducting the auction at a Geneva lakeside hotel.
    The "Sky Blue Diamond", an 8.01 carat rare large blue stone set in a ring by Cartier, sold for $17.06 million. Even after fees had been deducted, it still garnered almost $15 million - almost reaching its estimated price of between $ 15 and $20 million.
    The buyers were not immediately identified.
    In all, the Sotheby's sale netted $136.39 million, with 87.4% of the 341 lots sold. Four pieces brought more than $10 million each.
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