CrimeMay 03, 2024
Second Suspect Arrested in Murder of Colorado JewelerWheat Ridge, Colorado police took a 50-year-old man into custody Wednesday following a two-month search.
AuctionsFeb 07, 2016
At $28.5 million, pink diamond sets record
Newly named the “Pink Josephine” and sold Tuesday at Christie’s Geneva, the 16.08-carat stone set a new world auction record price for a vivid pink diamond.
The 16.08-carat, VVS2 clarity diamond is the largest cushion-shaped fancy vivid pink ever to be offered at auction. It brought in $1.8 million per carat.
Geneva--A new world auction record for a vivid pink diamond was set overseas on Tuesday when a 16.08-carat fancy vivid pink diamond sold for $28.5 million.
The cushion-shaped stone, part of Christie’s Geneva sale of Magnificent Jewels, was purchased by an Asian private buyer who named it “Sweet Josephine.”
The diamond is exceedingly rare because it it shows absolutely no trace of a secondary color, Christie’s said, and its Type IIa classification means there is little to no nitrogen in the diamond.
Also notable is the size of the stone. The auction house said with diamonds in the fancy vivid pink range, stones of five or six carats are “rarely encountered” in the sale room and those weighing more than 10 carats are “virtually unheard of,” making a pink diamond as large as 16.08 carats increasingly hard to locate.
In total, the Nov. 10 auction fetched $109.5 million, selling 80 percent by lot and 86 percent by value.
The sale saw strong results for colored gemstones and natural pearls, with a fancy vivid yellow diamond, a bluish-gray diamond, a Burma sapphire and two pearl necklaces all making it into the auction’s top 10 lots.
Coming in as the second-highest lot after Sweet Josephine was a 50.48-carat pear-shaped, brilliant-cut internally flawless diamond of D color. It sold for $7.8 million, or $155,264 per carat.
A 91.81-carat cushion-shaped fancy vivid yellow diamond of VS2 clarity garnered $4.3 million, followed by a 118.88-carat cushion-shaped Burma sapphire, which brought in $4.2 million. Both stones were purchased by the Middle Eastern trade, according to Christie’s.
When it came to pearls, a single-strand natural pearl and diamond necklace sold for $2.2 million, and a single-strand natural pearl necklace with a diamond clasp realized $2.1 million.
“Selling the largest vivid pink cushion-shaped diamond … for a new world auction record price is a strong indication that there is still demand from clients from that end of the market for these truly precious stones,” said Rahul Kadakia, international head of Christie’s jewelry department. “This is also true for pieces of historic or royal provenance, which similarly attracted a lot of interest during the viewing and sold above estimate.”
Kadakia added that rubies also were in high demand, with 27 ruby lots in the auction selling “very well.”
A complete list of results of Tuesday’s Magnificent Jewels sale can be found on the Christie’s website.
More on Auctions
The Latest
CollectionsMay 03, 2024
A Sneak Peek Into PGI’s Couture Platinum Spotlight ProgramPGI partnered with four new and seven returning designers for its annual platinum capsule collection.
MajorsMay 03, 2024
Kristie Nicolosi Joins WJA Board AgainNicolosi, president and CEO of The Kingswood Company, previously sat on WJA’s board from 2011 to 2018.
Brought to you by
Rio’s Reimagined Podcast: For the Love of JewelersMeet Ben Claus—grand prize winner of For the Love of Jewelers 2023 Fall Design Challenge.
CollectionsMay 03, 2024
Piece of the Week: A “Bit of LUV” for the DerbyKarina Brez’s race-ready piece is a sophisticated nod to the horse-rider relationship.
Weekly QuizMay 02, 2024
This Week’s QuizTest your jewelry news knowledge by answering these seven questions.
CrimeMay 02, 2024
4 Indicted in Burglary Ring Targeting Indian, South Asian FamiliesThe men are allegedly responsible for stealing millions in jewelry and other valuables in 43 burglaries in 25 towns across Massachusetts.
CollectionsMay 02, 2024
Foundrae Launches ‘Horizon’ Collection“Horizon” invites individuals to explore the limitless possibilities that lie ahead, said the brand.
Brought to you by
The Blueprint for Success in Scalable, Personalized Jewelry RetailWith Ho Brothers, you can unlock your brand's true potential and offer customers the personalized jewelry experiences they desire.
FinancialsMay 02, 2024
Pandora Raises Guidance After Strong Q1The jeweler credits its recent “Be Love” campaign and ongoing brand revamp for its 17 percent jump in sales.
IndependentsMay 02, 2024
Oklahoma Jeweler Glenn Lewis Dies at 68The co-founder of Lewis Jewelers was also the longtime mayor of the city of Moore.
SurveysMay 01, 2024
Consumer Confidence Falls in AprilConcerns about rising prices, politics, and global conflicts continue to dampen consumer outlook.
TrendsMay 01, 2024
Amanda’s Style File: All Eyes on EmeraldsMay’s birthstone is beloved for its rich green hue and its versatility.
SourcingMay 01, 2024
Opsydia Names New Sales and Marketing Director Jacqui Larsson joins Opsydia with nearly two decades of experience in the industry.
CrimeMay 01, 2024
Grand Jury to Hear Case Against Jeweler Charged in Fatal Shove Following IJO ShowLast month in Dallas, David Walton pushed another jeweler, David Ettinger, who later died.
CollectionsApr 30, 2024
12 Otherworldly Pieces From Tiffany & Co.’s 2024 Blue BookThe “Tiffany Céleste” collection reimagines designer Jean Schlumberger’s interpretations of the universe.
MajorsApr 30, 2024
Zales Celebrates 100 Years With New CampaignThe brand also created a 100-carat lab-grown diamond necklace in honor of its centennial.
MajorsApr 30, 2024
Platinum Guild International Appoints New CEOTim Schlick has been promoted from his previous position as COO.
Events & AwardsApr 30, 2024
Canadian Jewellers Association Brings Back the Summit It’s the second year for the event, slated to take place in October in Toronto.
Recorded WebinarsApr 29, 2024
Watch: Diamond Identification and Evaluation - How to Protect your BusinessSupplier Spotlight Sponsored by GIA
SourcingApr 29, 2024
De Beers to Move Auction HQ from Singapore to BotswanaSales will be paused while the relocation takes place over the next few months.
CollectionsApr 29, 2024
Simone I. Smith Mixes Denim and Diamonds in New Collection“SIS x MISA Denim and Diamonds” is a collaboration between the designer and celebrity stylist Misa Hylton.
IndependentsApr 29, 2024
Venus Jewelers Relocating After 45 YearsThe retailer is moving to a newly designed space in the same shopping center.
SurveysApr 29, 2024
Mother’s Day Jewelry Spending to Reach $7B, Says NRFGifts that are unique and thoughtful are top of mind this year, according to the annual survey.
CollectionsApr 26, 2024
Piece of the Week: Jacquie Aiche’s Starry Galaxy NecklaceThe necklace is featured in the brand’s “Rebel Heart” campaign starring Adam Levine and Behati Prinsloo.
Events & AwardsApr 26, 2024
AGS Conclave and GIA Symposium Are ConvergingThe two organizations will host a joint event, “Converge,” in September 2025.
SourcingApr 26, 2024
Anglo American Reportedly Shopping De Beers as BHP Eyes Anglo Big changes appear to be on the horizon for the diamond miner and its parent company, Anglo American.
