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24ct. Diamond Beats Estimate at Bonhams

Ring sells for $2.4 million at London auction.
Dec 6, 2018 6:12 AM   By Rapaport News
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RAPAPORT...
 A 24.31-carat diamond ring fetched $2.4 million at a Bonhams auction in London on Wednesday.

The step-cut, D-color, internally flawless piece sold for $98,194 per carat, beating its presale estimate of $1.7 million to $2.3 million, the UK company said.

“This magnificent gem was greatly admired during our previews in London, New York, Los Angeles and Hong Kong,” said Emily Barber, UK director of jewelry at Bonhams. “It attracted a lot of interest, not only due to its significant size — top-quality diamonds over 20 carats are very rare — but also due to its internally flawless clarity and its exceptional white color.”

Other notable items at the Fine Jewelry sale included a marquise-cut, 1.03-carat, fancy-intense-blue, VS1-clarity diamond ring, which garnered $363,734, smashing its estimate of $190,000 to $260,000. Bonhams also sold a cushion-shaped, 4.08-carat, Kashmir sapphire brooch with diamonds, which went under the hammer for $317,748, well over its original valuation of $160,000 to $230,000.

A trio of Art Deco gem-set bracelets by Van Cleef & Arpels also exceeded estimates. The set went for $223,541 against its presale valuation of $90,000 to $130,000.

Total proceeds at the auction came to $6.6 million.

Image: The 24.31-carat diamond ring. (Bonhams)
Tags: bonhams, Emily Barber, Fine Jewelry Sale, london, Rapaport News, Van Cleef & Arpels
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