National Jeweler Network

Jewelry Auctions

Orangy pink diamond expected to sell for $7M

April 15, 2014

This fancy intense orangy pink diamond ring is the highlight of Sotheby’s April 29 sale, which also will include a range of other important colored gemstones.

Click through this slideshow to see the five jewels expected to top Sotheby’s April 29 sale in New York.

New York--Sotheby’s anticipates that a 15.23-carat fancy intense orangy pink diamond could garner as much as $7 million at its April 29 sale in New York.

Set in a platinum ring, the cushion-cut VS2 diamond has a “soft, feminine color reminiscent of pink diamonds in historic and royal collections,” Sotheby’s said.

Overall, the auction house’s New York sale of Magnificent Jewels is expected to total more than $37 million. It will offer a range of colored gemstones as well as jewelry from the estate of American singer and Grammy winner Eydie Gorme.

A 28.18-carat square emerald-cut Kashmir sapphire surrounded by tapered baguette diamonds and set into a platinum mounting is expected to fetch up to $5 million and could set a new record.

The sapphire has no indications of heat treatment and is described by the American Gemological Laboratories as “a gem of singular importance, possess(ing) the quintessential, velvety blue color that distinguishes a fine Kashmir sapphire.”

The current world record price per carat for a Kashmir sapphire at auction is $175,821, for the 26.66- and 20.88-carat “Richelieu” sapphire earrings sold at Sotheby’s Geneva last November.

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If the 28.18-carat sapphire does sell for $5 million at Sotheby’s New York later this month, it will take the new world auction record to approximately $177,430 per carat.

The auction also will offer more than 30 white diamond rings and diamond earring studs weighing between 5 and 15 carats, with pre-sale estimates from $50,000 to $900,000.

A complete list of lots can be found on the Sotheby’s website.