Industry News by Nemesis

Marquise 18ct. Diamond Tops Sotheby's NY Sale

December 11, 2016

Sotheby’s sold $29.7 million worth of jewelry at two auctions in New York last week, with a diamond ring from the collection of philanthropist Marjorie Fisher turning out to be the most expensive item.

The marquise-shaped, 18.04-carat, D-color, VVS1-clarity diamond fetched $1.8 million, or $102,134 per carat, after “intense competition between five bidders on the telephone and in the room,” Sotheby’s said. This price surpassed a pre-sale estimate of $1.25 million to $1.75 million. 

The ring was part of a collection of more than 300 jewels once owned by the late Fisher. The items went under the hammer for a combined $10.6 million, beating an overall upper estimate of $9.6 million. 

Other significant lots, not in the Fisher collection, included a pear-shaped, 18.10-carat, D-color, VS1-clarity diamond ring, which found a buyer for $1.5 million, or $80,249 per carat. Separately, a cushion-cut, 10.19-carat, D-color, internally flawless diamond went for $1.3 million, or $130,765 per carat. 

Sotheby’s sold all three diamonds at its Magnificent Jewels auction on December 8, which fetched a total of $25.2 million and was 87 percent sold by lot and 77.2 percent sold by value. A separate auction on December 9, the Fine Jewels sale, garnered $4.6 million, with the event 80 percent sold by lot and 87.3 percent sold by value.

 

Source: Rapaport

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