5.69-Carat Blue Diamond Fetches $15.1 Million, or $2.66M/ct at Sotheby's

07/12/2017 09:29

A 5.69-carat fancy vivid blue diamond fetched $15.1 million at Sotheby’s New York yesterday, making it the top lot of the day and confirming once again that purchasers are willing to pay top dollar for blue diamonds that carry the ultra-rare “fancy vivid” classification. The hammer price, which is equivalent to $2.66 million per carat, came in slightly above the pre-sale high estimate of $15 million. The emerald-cut gem, which is set in a platinum ring and flanked by two baguette-shaped diamonds, has a VVS1 clarity grade. The auction house pointed out that the stone - if recut - has the potential to be internally flawless.

Sotheby’s sold $54 million worth of jewelry at its New York auction as several pieces containing rare blue diamonds and gemstones yielded higher-than-expected prices, although some failed to sell altogether. Among the disappointing lots that failed to meet Sotheby’s reserve price and remained unsold was a 110.92-carat round diamond, which had been touted as the "largest round diamond to be offered at auction". The diamond had VS1 clarity, but an L color (faint brown). Another high-profile, unsold lot was a 5.24-carat, fancy intense orangy-pink diamond that was expected to sell in the range of $1.8 million to $2.2 million.