Pink and blue diamond’s triumph at Geneva auctions

GENEVA – The mood was at times electric as extremely rare pink and blue diamonds sold for extraordinary prices at the magnificent jewellery auctions in Geneva, with the highly publicised “Sky Blue Diamond” achieving its pre-sale estimate in excess of US$17 million at Sotheby’s.

Graff was the buyer of a 17.07-carat emerald-cut fancy intense pink diamond, the top lot in the Sotheby’s sale on November 16, for US$20.8 million.
A 9.1-carat fancy vivid pink gem at Christie’s Geneva sale fetched US$18.2 million (US$2 million per carat) on November 15, the second highest price for a pink pear-shaped diamond sold at auction.
The sale of the 8.01-carat Sky Blue Diamond at Sotheby’s, a square-cut fancy vivid blue diamond set in a ring by Cartier, went to a telephone bidder after a flurry of bids for US$17.1 million, within its pre-sale estimate of US$15-20 million.
“Pink and blue were undoubtedly the hottest colours accounting for many of the top prices,” said David Bennett, who heads Sotheby’s international jewellery division.
New records were set for fancy deep blue, fancy light blue and fancy light pink diamonds.
Dealers said the market for rare colour diamonds was holding up well because of their scarcity and beauty.
Oded Mansori of R.D.H. Diamonds said the Sky Blue Diamond had netted a fair price taking into consideration its precise colour, while “Diamonds” author Marijan Dundek said the auctions had achieved strong results against a backdrop of global economic uncertainty following the U.S. election.