National Jeweler Network

Jewelry Auctions

Pink diamond sells for $6.3M at Christie’s

October 17, 2013

This 8.77-carat fancy intense pink diamond was the top lot of Christie’s most recent jewelry auction, selling for more than $6 million.

New York--An 8.77-carat rectangular-cut fancy intense pink diamond sold for $6.3 million at Christie’s, making it the top lot of the Magnificent Jewels sale held earlier this week.

London-based Moussaieff Jewellers Ltd. purchased the VVS1 diamond, paying $721,200 per carat. Christie’s had noted prior to the sale that pink diamonds are in demand among collectors following the record-breaking $39.3 million sale of the “Princie Diamond” at Christie’s New York last April.

Overall, the Magnificent Jewels sale, held in New York Tuesday, totaled $46.7 million, selling 75 percent by lot and 84 percent by value.

“Colored diamonds kicked off the first major jewelry sale of the season at Christie’s New York,” said Rahul Kadakia, head of jewelry at Christie’s Americas and Switzerland.

In addition to the sale of the pink diamond, a 3.81-carat rectangular-cut fancy vivid blue diamond sold for nearly $4 million, or just more than $1 million per carat, exceeding its pre-sale high estimate of $3.5 million. An anonymous bidder bought the VS1 diamond.

Other notable diamonds sold at the auction include a 25.30-carat rectangular-cut D VVS1 diamond, which was purchased by an Asian bidder for $3.1 million, and an 18.28-carat cushion-cut D VVS2 diamond that sold for just more than $2 million.

Next month, Christie’s Geneva will auction “The Orange,” a 14.82-carat stone that is the largest fancy vivid orange diamond ever to appear at auction. It is expected to sell for up to $20 million.