Thursday 15th May 2014

Sotheby's Geneva Jewels Sale Sets New Records

May 14, 2014 9:42 AM By Francesco Rosa

RAPAPORT... Sotheby's spring sale of magnificent jewels and noble jewels in Geneva established a new world auction record for a jewelry sale when the sale garnered an astonishing $141,492,079. The auction was 88.7 percent sold by lot and established seven new auction records.

Buyers from more than 30 countries competed intensely throughout the day, resulting in multiple new world auction records being broken for colorless and colored diamonds.

The top lot of the evening (pictured) was "The Graff Vivid Yellow," a sensational and rare 100.09-carat, VS2, cushion-shaped, fancy vivid yellow diamond ring that sold to an anonymous buyer present in the room for $16,347,847, a new world auction record for a yellow diamond.

The second top lot was a magnificent 70.33-carat, D, flawless, type IIa, cushion brilliant-cut diamond with excellent polish and symmetry as determined by the Gemological Institute of America (GIA). This diamond sold to an anonymous private for $14,201,354.

A new world auction record price per carat was achieved by the sale of a 25.32-carat, D, IF round brilliant-cut diamond graded by GIA as type IIa with excellent polish, cut and symmetry, which sold for $6,246,702, or $246,710 per carat.

A marquise-shaped, 12.07-carat, internally flawless, fancy pink diamond ring was purchased by renowned London jeweler David Morris for $7,256,816, establishing a new world record at auction for price per carat at $601,228.

Another auction record was set for price per carat with a 10.11-carat, VS2, fancy light pink, round brilliant-cut diamond that sold for $3,973,944, or $393,071 per carat.

David Bennett, the chairman of Sotheby’s Switzerland and chairman of the jewelry department for Europe and the Middle East, said, “100 carats is a magical number when it comes to diamonds. With its exceptional size and a superb daffodil color, the Graff Vivid Yellow is a truly extraordinary diamond with immense presence. These rare qualities led to the record price achieved tonight. Throughout the day, we witnessed intense bidding from all corners of the globe for exceptional diamonds, gemstones and signed jewels. Once again, fine pieces with important provenance were highly sought after. We were particularly pleased by the excitement surrounding Suzanne Belperron’s creations, which further confirms her reputation as one of the greatest jewelry designers of the 20th century.”

Tags: Sothebys, Auction

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