Christies Sells Pink Diamond for Record $29M
The Sakura ring was the star at Christies Hong Kong, setting a world-record auction price for a purple-pink diamond.
The Sakura ring was the star at Christies Hong Kong, setting a world-record auction price for a purple-pink diamond.
The cushion-cut, 15.81-carat, fancy-vivid, internally flawless stone sold within its estimate for $29.3 million, or $1.9 million per carat, at the May 23 Magnificent Jewels auction, Christies said Sunday. The piece, purchased by a private Asian buyer, was also the most valuable jewel sold at auction so far this year. Overall, the Hong Kong sale raked in $76.8 million, the auction houses highest total for a jewelry auction in four years.
We are very excited to have marked another important chapter in jewelry-auction history today, with The Sakura realizing a record-breaking price, said Vickie Sek, chairman of Christies Asia Pacific jewelry department. The strong sell-through rates and exceptional prices achieved for top-quality colored diamonds and gemstones reflect a robust market demand.
However, even with the record pricing, the pink diamond still fell short of its $38 million high estimate.
I would not consider this to be at the lower end of the market price, but there was room for it to go [further] if the current economic stability and situation was better, Harsh Maheshwari, executive director of colored-diamond dealer Kunming Diamonds, told Rapaport News. Post-Covid-19, if a similar item were to be auctioned, it would possibly touch, or break, the higher end of the estimated price.
Meanwhile, The Sweet Heart, a heart-shaped, 4.19-carat, fancy-vivid-pink diamond ring, brought in $6.6 million, or $1.6 million per carat, within its presale valuation.
Other notable items include a necklace with a 50.05-carat, D-flawless, type IIa briolette diamond pendant, which garnered $2.7 million. That price, which comes to $53,399 per carat, was just above its low estimate. A square emerald-cut, 31.17-carat, fancy-vivid-yellow, VS2-clarity diamond ring went for $2.2 million, smashing its high estimate, as did a Cartier necklace with diamonds and five Colombian emeralds weighing a total of 16.43 carats, which achieved $2.1 million.
Overall, Christies sold 82% of items on offer at the auction.
Image: The Sakura diamond ring. (Christies)
