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Vivid Pink Diamond Sells for $2M Per Carat at Sotheby's Hong Kong

Sale Tops $75M, Breaks Two Price Records
Oct 7, 2014 2:13 PM   By Jeff Miller
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RAPAPORT... Sotheby's Hong Kong sale of magnificent jewels and jadeite achieved $75,275,870 (HKD 584,140,750) and was 69 percent sold by lot. The top lot, an 8.41-carat, internally flawless, fancy vivid purple-pink diamond ring (pictured), set a world auction record at $17,768,041 or $2.1 million per carat. Asian privates purchased nine of the top 10 lots, including the ring. 
Rounding out the top three lots,  a 3.32-carat, internally flawless, fancy vivid blue, emerald-cut diamond ring sold for $5,355,670 and a 35.72-carat, step-cut emerald and diamond ring achieved a sales price of $4,345,361hong kong

Sotheby's stated that a 17.16-carat, unheated Kashmir sapphire and diamond ring set a world record price per carat of $236,404, for a total sales price of $4,056,701.

Quek Chin Yeow, the deputy chairman and head of jewelry at Sotheby’s Asia, said, “Tonight we were thrilled to achieve consecutive per-carat price records for Kashmir sapphire first with the Cartier sapphire ring at $193,975 per carat then again with a sapphire and diamond ring at $236,404 per carat. The top lot of the night, a vivid purple-pink diamond ring mounted by Sotheby’s Diamonds, attracted keen competition before fetching a wonderful price of $17.8 million and setting a world auction record for a fancy vivid pink diamond. Also notable is a very fine icy multi-colored jadeite ‘Guan Yin’ ornament which achieved $1.9 million and figures among the top 10 lots of the sale. The highly anticipated Ballerina Butterfly brooch co-designed by Cindy Chao and Sarah Jessica Parker to benefit the New York City Ballet achieved $1.2 million.”

Sotheby's stated that the previous world auction record for a fancy vivid pink diamond and record price per carat for a pink diamond were both achieved by a 5.00-carat fancy vivid pink diamond, which sold for $10,776,660, or $2,155,332 per carat,  in Hong Kong in November 2009.  The previous record price per carat for a sapphire was achieved by a 28.18-carat Kashmir sapphire and diamond ring that sold for $5,093,000, or $180,731 per carat,  at Sotheby’s New York in April 2014.



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Tags: auction, diamonds, Hong Kong, Jadeite, Jeff Miller, Jewelry, Sotheby's
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