Sotheby’s New York Magnificent Jewels Quite Selective with Fancy Color Diamonds

Generally, the famous auction houses prefer to gather the most magnificent and noteworthy pieces of jewelry before they have a major diamond and jewelry auction. This ensures that the attendees will have a varied selection, and that buyers with many different types of tastes will be tempted to bid. However, the auction houses do not necessarily accept every single piece of jewelry that is pitched to them, as they need to ensure the high standards and quality of their offerings. If the jewelry or loose stones show a large proportion of a certain type, this tends to prove that either there is an abundance of that type on the market, or that there is a high demand for that type and the auction house wishes to provide it. That is not to say that even when there is a small representation of a certain type, that it is not also in high demand. The real indication of the demand is how high bidders are willing to spend to obtain the pieces that they desire. The upcoming Sotheby’s New York auction on April 26th is featuring less than a handful of selected fancy color diamonds, although their value estimates are at their usual levels. What does that mean? That Fancy Color Diamonds are out of favor? Or does it mean that they are rare enough that it is difficult to find unique auction-worthy pieces?

Unique Piece Offered, A Green Diamond

Perhaps in order to gain momentum for their April sale, Sotheby’s is offering a rare Fancy Vivid Green diamond. Normally, Sotheby’s and Christie’s will primarily boast their pink diamonds and blue diamonds, but in this case the most interesting diamond of the evening is a noteworthy green diamond.  In fact, it is the first of its kind! Prior to this auction, the first pure Fancy Vivid Green Diamond ever offered was the 2.52 carat Fancy Vivid Green cushion cut diamond that was sold by Sotheby’s in Geneva in November 2009. it was sold for a record price of $1.22 million per carat.

The 2.52 carat Fancy Vivid Green diamond          Image credit: Sotheby’s

 

Fast forward to 2016, and Christie’s offered and sold the largest and most expensive pure Fancy Vivid Green Diamond, the 5.03 carat Fancy Vivid Green ‘Aurora Green’ diamond, sold by the famous fancy color diamond dealers Scarselli Diamonds of New York. The buyer was none other than the largest jewelers in the world, Chow Tai Fook. The sale took place in May 2016 in Hong Kong, and the diamond was sold for over $3.34 million per carat.

The 5.03 carat Fancy Vivid Green ‘Aurora Green’ Scarselli diamond          Image credit: Christie’s

 

Now, Sotheby’s New York will be offering the largest pure Fancy Vivid Green cut-cornered square mixed-cut shaped diamond. Weighing in at 1.64 carats, it is set on a beautiful ring with two cut cornered triangle shaped colorless diamonds. The diamond is currently valued at a final sales price between $1 million to $1.5 million, or $610k to $915k per carat.

1.64 Fancy Vivid Green diamond ring          Image credit: Sotheby’s

Due to the fact that not many pure Fancy Vivid Green diamonds have ever been sold at auction, and that in this case the diamond is the first of its kind, it would be difficult to predict its true final sales price. The value range given by Sotheby’s is quite large. In this case, we will also consider rarity as one of if not the most important element into the value of such a diamond. The diamond is mostly likely to be acquired by a collector, who will see the value in its rarity, rather than future potential financial gain, so we might see it selling towards the upper valuation scale.

Rare Blue Diamond Color

Another rare pure fancy color diamond which is also being offered is the 5.07 carat Fancy Gray Blue emerald shaped diamond, which has a high VVS2 clarity. Its color is also rare and not seen often. It is valued to sell at $750k to $1 million, or $148k to $197k per carat.

5.07 carat Fancy Gray Blue VVS2 emerald shaped diamond          Image credit: Sotheby’s

Larger Than Life Pink Diamond

Another beautiful fancy color diamond being offered is an 11.19 carat Fancy Pink pear shaped diamond with an incredible and rare Internally Flawless clarity. It is being valued by the auction house to sell at a final price of $1million to $2million dollars, or $89k to $179k per carat. Based on this valuation, rest assured that it will open, and will quickly climb above the $1 million mark, as this value is extremely low for such a diamond. In fact, even if the color is weak enough to be considered a Fancy Light Pink, such size and clarity can also reach the $2 million mark, and surpass it.

11.19 carat Fancy Pink pear shaped IF Diamond          Image credit: Sotheby’s

Blue Diamond Twins

Blue Diamonds remain the most sought after fancy color diamonds in the world for various reasons. Even Vivid Blue diamonds that are below 1 carat in size are a rare find, and all the rarer is a close ‘pair’ in appearance and grade. This ring features twin Fancy Vivid Blue diamonds, weighing 0.96 carat and 0.64 carat, with VS1 clarities and pear shaped. I would go as far as to say that they were most likely cut from the same rough diamond, making this pair extremely rare. They have similar characteristics per their GIA reports, and it happens that both reports have a sequential number, meaning they were given to the GIA to be certified at the same time. They both have an extremely large culet, which may give us a clue that the rough had an internal inclusion in the center which was removed by being cut, creating an extremely large culet.

0.96 carat and 0.64 carat Fancy Vivid Blue VS1 pear shape diamond pair          Image credit: Sotheby’s

We eagerly look forward to the auction results and to see what happens. Should you have any questions, or need advice on your next acquisition, feel free to comment or ask questions!

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