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Bulgari Blue Fetches $18M at Christie’s

8.08-carat diamond exceeds high estimate at NY auction.
Dec 6, 2018 4:40 AM   By Rapaport News
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RAPAPORT...
 A Bulgari diamond ring surpassed its estimate at Christie’s in New York on Wednesday, bringing in more than $18 million.

The cushion-cut, 8.08-carat, fancy-vivid-blue piece was the event’s top seller at $18.3 million, beating its presale estimate of $13 million to $18 million. It completes a mixed week for colored-diamond sales after a 10.62-carat, fancy-vivid-blue diamond — estimated at $20 million to $30 million — failed to find a buyer at Sotheby’s in New York on Tuesday.

Proceeds at Christie’s Magnificent Jewels auction came to $69.2 million, with 95% of lots sold by value. Those items included a heart-shaped, 15.56-carat, fancy intense-pink diamond-pendant necklace, which garnered $9.5 million against a presale estimate of $9.5 million to $12 million.

Other notable lots included a 28.70-carat, D-color, VVS2-clarity, type IIa diamond ring from the estate of art collector Lee Vandervelde. That piece sold for $2.1 million, against its $1.5 million to $2.5 million presale estimate, with proceeds benefiting the Los Angeles-based Children’s Hospital and Children’s Institute.

A pair of earrings weighing a combined 77.71 carats, cut from the 187.63-carat Diavik Foxfire — North America’s largest known gem-quality rough diamond — brought in $1.6 million. Its original valuation was $1.3 million to $3 million. An 8.09-carat, fancy-vivid-yellow diamond ring by Gillot & Co. achieved $1.3 million, versus its presale estimate of $900,000 to $1.2 million.

A diamond “tube” bracelet by Suzanne Belperron went for $852,500, smashing its expected price of $200,000 to $300,000 and setting a world auction record for pieces by the designer.

“The excitement and prices achieved in our New York sale tonight, including the exceptional price achieved for the sensational fancy-vivid-blue diamond ring by Bulgari, and the world auction record realized for Suzanne Belperron, mark a perfect ending to our successful year of global jewelry auctions,” said Daphne Lingon, head of jewelry for Christie’s Americas.

Image: The 8.08-carat Bulgari blue diamond. (Christie’s)
Tags: Bulgari, Christie’s, Daphne Lingon, Diavik Foxfire, Lee Vandervelde, Magnificent Jewels, new york, Rapaport News, Suzanne Belperron
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