National Jeweler Network

Jewelry Auctions

‘Princie Diamond’ breaks multiple auction records

2013-04-18

The “Princie Diamond,” the top lot of Christie’s April 16 auction in New York, was named in honor of the 14-year-old Prince of Baroda.

New York--The $39.3 million sale of the “Princie Diamond” set new world records for the most valuable Golconda diamond sold at the auction and the most valuable diamond ever sold at Christie’s and in the United States.

An anonymous bidder paid $1.1 million per carat for the 34.65-carat cushion-cut fancy intense pink diamond at Christie’s New York on Tuesday. The auction house’s previous record was $24.3 million, set in December 2008 with the sale of the Wittelsbach Diamond to Laurence Graff.

Christie’s said the Princie possesses all of the most desirable qualities today’s collectors are seeking in diamonds: a large size, desirable shape and polish, exceptional color and quality, Golconda origins and a noble history.

“A major event took place in the global auction industry with the record-breaking sale of the Princie Diamond at Christie’s New York. Aside from Christie’s sale of the legendary Collection of Elizabeth Taylor, this was the most successful jewelry auction ever held in the U.S.,” said Rahul Kadakia, head of jewelry at Christie’s Americas and Switzerland.

Overall, Christie’s April 16 sale of Magnificent Jewels totaled $81.3 million, marking the highest various owner jewelry sale total in the U.S.

A 30.32-carat, rectangular-cut D color VVS1 diamond was the second highest-grossing lot of the auction, garnering $4.4 million, or $146,300 per carat, topping its pre-sale high estimate of $4 million.

D1

A 23.30-carat marquise-cut D color VVS2 diamond ring by Harry Winston sold for $3.3 million, or $140,000 per carat. Graff Diamonds purchased the ring.

D2

Christie’s next jewelry auction will be its Magnificent Jewels sale in Geneva on May 15. A list of the auction house’s upcoming international sales in the jewelry department can be found here.