A 5.7-Carat Blue Diamond Ring Just Fetched Nearly $9 Million at Auction
A blue diamond lived up to the hype at auction this week.
The 5.7-carat fancy intense stone, mounted as part of a diamond ring, hammered down for $8.8 million during Christie’s Magnificent Jewels sale. That price was more than the diamond’s pre-auction high estimate and makes the jewel the second most expensive sold at auction globally this year.
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“Today’s sale in New York was a testament to the vibrant market for jewelry of the highest caliber with singular provenance,” Rahul Kadakia, the international head of jewelry at Christie’s, said in a statement. “We were particularly pleased with the result of the top lot . . . We also were deeply honored to sell jewels from several of the world’s most esteemed private collectors, including Mica Ertegun. Offering this selection of jewelry hailing from the collection Mica Ertegun was a tribute to her brilliant eye, and we are thrilled by the exceptional outcome.”
In total, the Magnificent Jewels auction was sold 97 percent by lot, for a grand total of $49.2 million. Buyers came from around the globe, with 62 percent from the Americas, 21 percent from Europe, and 17 percent from the Asia-Pacific region. While the blue diamond was far and away the star of the show, other pieces similarly crossed the $1 million mark: A pair of Harry Winston spinel and diamond earrings fetched $2.2 million, four times their high estimate, and another pair of Harry Winston diamond earrings also achieved a cool $1.9 million.
As Kadakia mentioned, Ertegun’s collection of jewels was also highly desired by bidders. The 16 lots were all sold, with more than 80 percent hammering down for more than double their pre-auction low estimate. The most valuable piece was a Cartier Art Deco multi-gem and diamond brooch, which sold for $1.4 million, more than 10 times its low estimate. The next highest-priced items were a JAR ruby and diamond torsade necklace ($378,000) and a pair of Old European brilliant-cut diamond earrings ($352,800).
Also achieving a rather impressive sum was a Van Cleef & Arpels “Ruban Mysterieux” necklace, which went home for $1.4 million. And the Jewels as Art sale, part of the same auction, was led by a Suzanne Belperron diamond “Tube” bracelet ($945,000).
If you’re feeling left out from not having acquired any of these exquisite jewels, Christie’s is keeping its Jewels Online auction open until Thursday.
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