Christie’s has finally released their auction catalog for their upcoming New York diamond and jewelry auction this month. After Sotheby’s released the momentous news that they would be re-auctioning the infamous ‘Pink Star’ diamond, all eyes turned to Christie’s to see if and how they would reply. April is known as the month that sets the tone for diamond sales and prices throughout the year, and the auction houses generally like to start the year with a bang. It seems that Sotheby’s has certainly accomplished this, and Christie’s was waiting until the last possible second for any momentous additions to their roster. While there are no especially important diamonds that will be going under the hammer, it seems that they have continued the theme that the Pink Star has set. They will feature two magnificent pink diamonds in the upcoming auction, among their list which includes numerous gemstone, yellow diamond, and brown diamond pieces, among others. Even though Christie’s will not be auctioning any important diamond pieces per se, they will still benefit from the renewed vigor for pink diamonds that the Pink Star has set, now that it has sold for the record highest price that a diamond has ever earned at auction.
Christie’s top lot of the evening will be a 5.26 carat Fancy Vivid Purplish Pink I1 diamond shaped as a cut cornered rectangular modified brilliant cut. The diamond is estimated to sell at a final price between $2.8 million and $3.5 million, or $532k to $665k per carat. This is considered a very modest price for such a rare size diamond, even one with such a low clarity. Unless the color is weak and closer to an Intense Pink, the high valuation will be broken and it will sell for a higher price.
5.26 carat Fancy Vivid Purplish Pink I1 diamond Image credit: Christie’s
The other exceptional pink diamond is a 3.02 carat Fancy Intense Pink IF Diamond shaped as a cut-cornered rectangular modified brilliant cut. It’s very extraordinary Internally Flawless clarity makes it even rarer for its color category. It is valued at a final sales price of $1.5 million to $2 million, or $497k to 662k per carat. With such a straight color and clarity, and if the color is strong enough, it will most likely sell on the high side of the price, and it may even break the higher estimated value.
3.02 carat Fancy Intense Pink IF Diamond Image credit: Christie’s
Although these diamonds are hidden among the other pieces in the catalog, they stand out for their exceptional characteristics. The demand for pink diamonds has continued to rise over past years, and the sale of the Pink Star for $71 million, or $1.2 million per carat, has further cemented the importance of pink diamonds for investors. As the rest of 2017 will likely show, the demand for pink and blue diamonds of the highest caliber is growing at an expedient rate and only those who know how to buy and sell wisely are truly profiting.
Got any questions? Ask in the comments or contact us!
- Christie’s meets its yearly goal while a Ruby breaks the record, again!
- Sotheby’s & Christie’s end 2015 with a BANG! who will prevail?
- What Is All the Fuss About the Rapaport Investment Diamonds Report (IDR)?
- Fancy Color Diamonds Can Rescue European Asset Managers And Their Equity Funds
- Strike Three! – Investment Criminal Kashif Khan Should Be Kicked Out of the Diamond & Investment Industries