The COVID pandemic, so much is clear, is far from over, and continues to put pressure on the global economy. Sales of personal, aspirational luxury items are taking a hit, but for the super rich, the Financial Times reports, that doesn't necessarily mean they are spending less. The so-called "ultra high net worth individuals" have shifted consumption patterns, from spending on high-end travel and restaurants, to buying real estate closer to home and exclusive items, from paintings over autographed sneakers to exlusive diamonds and jewellery pieces online.
Auction house Sotheby's says that despite the corona virus pandemic, their online auctions have been a tremendous success with over 90% of the lots on offer sold and over 60% of them selling at prices that exceeded estimate prices, totaling US$6.1 milion. Catharine Becket, "magnificent jewels" expert at the auction house commented to Bloomberg that wealthy people are "leading dreary lives" quarantined at home, and buying an exclusive, bespoke or prestigious piece offers them joy and hope for when things return to the new normal.
Grib Diamonds, the Antwerp-based marketing arm of Russian miner AGD Diamonds, conducted an auction on March 23, 2020, selling 90% of the lots on offer for approximately $20 million. Due to the spread of the coronavirus and the cessation of much of worldwide trade, prices were under considerable pressure, the company noted. This price decline was anticipated following the diminution in activity in the main centres of sales and processing of rough diamonds.
Russian diamond miner Alrosa has decided to relocate its March auctions for rough and polished diamonds from Hong Kong to other trading centers. The move follows the decision of the Hong Kong Trade Development Council (HKTDC) to reschedule the Hong Kong trade shows from March until May in response to the coronavirus epidemic.
Russian diamond mining giant Alrosa plans to hold 34 international auctions for special size rough diamonds (weighing over 10.8 carats) in 2020, the comapany recdently announced. They plan to hold seven auctions in the first quarter (Q1), eight in Q2, seven in Q3 and 12 in Q4. The schedule is available here.
An Art Deco aquamarine and diamond necklace by Cartier, dated circa 1940, sold for £459,062 (approx. $601,399) including premium, at Bonhams' London Jewels sale, tripling its pre-sale estimate of £100,000 - 150,000 (est. high of $197,440). The auction house says that the highly articulated geometric necklace, set with nearly 170 carats of beautifully matched aquamarines, was an impeccable example of Cartier's late Art Deco style and sparked an international bidding war.
ALROSA USA, the rep office of the Russian mining giant sold 255 polished diamonds, total weight 435ct and a mix of different cuts, and including 21 fancy colored diamonds, to companies from various countries. Total revenue of the auction amounted to US$4.8 million, exceeding the US$3 million of the first auction held in New York last summer.
The sale of the "in-house" manufactured diamonds through auctions, as well as the expansion and active presence of the company in key consumer markets like the US is in line with ALROSA's approach to expand its scope beyond mere mining.
Alrosa sold 93 rough diamonds with a total weight of 1,560 carats, and earned $11 million in sales revenue at an auction for special size rough diamonds (weighing over 10.8 carats) held in New York. At approximately $7,050 per carat, the miner says it is the best result achieved in the last few months. There were 95 participants from the US, Belgium, India, Israel, UAE, Russia and Hong Kong.
Christie's Geneva Magnificent Jewels sale taking place tomorrow (Nov. 12) features a stunning collection of colored and colorless diamonds, led by a 7.03-carat, Fancy deep blue rectangular-cut diamond by London high jewelry house, Moussaieff. The VVS2 blue stone carries an estimate of $10,000,000 - $14,000,000.
De Beers Group Auctions today announced the launch of its new auction portal, the company stated in a press release. The new platform "provides customers with an improved bidding experience through a range of enhancements to functionality and to the user experience. The portal harnesses cutting-edge technology and incorporates a range of valuable insights garnered from customer feedback," the Group writes. They describe it as a "better, smarter and faster way for customers to purchase their diamonds." See the announcement in annex below.
A 10.64-carat Fancy Vivid Purplish Pink diamond sold for US$19.9 million (155,831,000 HKD) earlier this week at Sotheby's Hong Kong auction. That's $1.9 million per carat.
The 10.65-carat, Internally Flawless Type IIa pink fell between its $19.1 to $25.5 million (150 million to 200 million HKD) pre-sale estimate. It is set between trapeze diamonds, mounted in 18 karat white and pink gold. The Magnificent Jewels and Jadeite sale totaled $300.8 million HKD, or $38.3 million.
The Dubai Multi Commodities Centre (DMCC) today (Sept. 25) unveiled the redesigned and upgraded Dubai Diamond Exchange (DDE) auction facility, which it is calling the world’s largest diamond trading floor. Located at the Almas Tower in Dubai, UAE, the refurbished trading floor has 41 viewing stations with specially designed lighting and high-resolution cameras. Designed principally for rough and polished diamonds, the DMCC says that changes have been made to the DDE windows to enable trade of colored gemstones.
Rare and exceptional fancy color diamonds, as well as a large flawless emerald diamond will be in the spotlight at this autumn’s Magnificent Jewels and Jadeite auction at Sotheby's Hong Kong. The October 7 sale presents three very remarkable stones: a superb 10.64-carat fancy vivid purplish-pink diamond of internally flawless clarity estimated at $19.1 million to $25.5 million, an important 6.01-carat fancy vivid blue diamond, and a magnificent 80.88-carat D-color, flawless diamond.
Russian diamond mining giant Alrosa will host its second annual True Colors auction of natural color diamonds in September at the Hong Kong Jewellery & Gem Fair from 16 to 20 September. The auction will last until September 23.
A 14.83-carat pink oval diamond, cut from a rare 27.85 carat clear pink rough diamond mined in 2017 by Russia’s Alrosa could earn more than $60 million when it goes up for sale in November. Named The Spirit of the Rose (“Le Spectre de la Rose”) as a tribute to a legendary short Russian ballet that premiered in 1911, the preparation and cutting process was performed at the “Diamonds ALROSA” cutting factory in Moscow, and it will be the most expensive stone ever polished in Russia.
Christie's Maharajas & Mughal Magnificence collection earned a total of $109,271,875 in New York, representing the highest amount taken in by any auction of Indian art and Mughal objects, and the second highest for a private jewelry collection - falling just short of the 2011 auction of Elizabeth Taylor’s jewelry, good for a nearly $116 million haul. Almost 400 lots were offered, ranging from legendary Golconda diamonds to dazzling coloured stones, jeweled objects used in the royal courts to swords and daggers once owned by Indian rulers.
Independent Russian diamond miner AGD Diamonds, parent company to Antwerp-based Grib Diamonds N. V., held a public auction last week on Grib Diamonds' electronic trading platform, with revenue from the auction achieving more than $27 million.
Christie's will hold the landmark Maharajas & Mughal Magnificence sale this week Wednesday (June 19) in New York, and it is slated to be perhaps the highest earning jewelry sale in the auction house's history.
Alrosa recently held two international auctions for special size rough diamonds (larger than 10.8 carats), earning a combined $19 million from 221 stones weighing a total of 3,490 carats. At the first, which took place in Ramat Gan, Israel, the company sold 120 stones with total weight of 1,940 carats, earning revenue of $10.2 million, or$5,258 per carat. The auction included two large diamonds weighing more than 50 carats each.
An extremely rare, 3.43-carat internally flawless cushion cut diamond referred to as the 'Bubble Gum Pink' has sold for an impressive $7.5 million at Christie’s Hong Kong auction, or $2.2 million per carat. The ‘Superb Colored’ gem was the premier lot sold during the Magnificent Jewels event held by the famed auction house, which fetched a total of $44.6 million.The stone is mounted onto a ring designed by luxury London jewellers Moussaieff, alongside other pink diamonds and marquise shaped white diamonds.
Russian diamond miner Alrosa recently held two auctions of special-sized rough diamonds (+10.8 carats) in Vladivostok and Dubai, earning a total of $18.6 million from the two sales. The miner's haul from the Vladisvostok auction exceeded $9.65 million, with 29 companies from Belgium, India, Israel, the UAE, the USA, Hong Kong and Russia participating. A total of 150 diamonds with a total weight of 2,482 carats were up for sale, with 121 stones (2,030 carats) sold. Two especially large diamonds were sold, weighing 58.92 and 41.48 carats.
The Shirley Temple blue diamond caught everyone's attention exactly three years ago when it hit the auction block at Sotheby's New York with an estimated price between $25 million and $35 million. The highest bid was $22 million, which was below the ring's reserve price and it failed to sell.
A twin-stone colored diamond ring featuring fancy vivid blue pear-modifiedbrilliant-cut diamonds of 3.06 and 2.61 carats was the headline item at Christie’s New York Magnificent Jewels auction on 16 April, selling for $6.7 million, or $1.2 million per carat. The hammer price fell right within its $6-$8 million pre-sale estimate.
The 'Spectacular 88.22-Carat Oval Diamond', said to be perfect according to every critical criterion, sells at the Sotheby's Hong Kong auction for HK$108 million/US$13.8 million to a Japanese private collector who names the stone the 'Manami Star', after his eldest daughter.
ALROSA, the largest diamond mining company in the world, held international auction for special size rough diamonds (over 10.8 carats) in Dubai. The overall revenue amounted to $8.3 million. The company sold 121 rough diamonds with total weight of 1,950 carats. Firms from UAE, India, Belgium, Israel, Hong Kong, Russia and the USA participated in the auction, and 31 firms were recognized as winners in different positions.
Described as “perfect according to every critical criterion,” an 88.22-carat diamond will go under the hammer at Sotheby’s Hong Kong, with the auction house expecting the oval-cut gem to fetch as much as HK$100 million (about US$12.7 million). According to an announcement released by Sotheby’s yesterday, the stone is one of only three oval-cut diamonds with a weight greater than 50 carats “to appear at auction in living memory, and the largest to be auctioned in over five years.” The 88.22-carat, D Colour, Flawless, Type IIa, Oval Brilliant Diamond will hit the auction block at Sotheby’s Ho
A ring made by Bulgari and set with fancy vivid blue diamond weighing 8.08 carats was sold for $18,312,500 at Christie’s New York Magnificent Jewels auction, beating its presale estimate of $13 million to $18 million. The cushion-cut Type IIb Fancy Vivid Blue of natural color, VS2 clarity garnered $2.27 million per carat, and was the top lot at the Magnificent Jewels auction, which totaled $69,225,750 and also included a rare, 15.56-carat heart-shaped pink diamond set in a pendant, selling for $9,537,500.
The 24-carat pear-shaped, fancy yellow Moon of Baroda diamond famed for its association with Marilyn Monroe sold for $1.3 million at the Christie’s Hong Kong jewelry auction on Tuesday, easily beating estimates of $500,000 to $750,000.
Russian diamond miner AGD Diamonds, which in September acquired an 100% stake in Antwerp-based Grib Diamonds N. V., the international sales arm for rough goods produced at the Grib Diamond Field, held a public auction last week for the sale of special-size diamonds (10.8+), earning a total of $14.1 million. The lots included large-size top-grade diamonds, including a unique bright yellow colored stone weighing 57.03 carats, which had been extracted by the Grib Mining and Processing Unit on June 18, 2018.
Russian diamond giant Alrosa held two auctions of special rough stones (10.8 carats and up) during the month of November, first in Vladivostok and then in Dubai, earning an average of approximately $4,900 from the sale of 4,030 carats, yielding a total of $19.8 million. In Vladivostok, the miner sold 119 gem-quality rough diamonds with a total weight of 1,890 carats for $10.3 million, representing an average price per carat of $5,540. This was the fourth and final auction in Vladivostok, their Far Eastern platform, for 2018. They started holding auctions there in late 2016.
The “Pink Legacy”, a diamond weighing just under 19 carats, fetched 50.375 million Swiss francs ($50 million), at Christie’s Magnificent Jewels sale in Geneva, setting a world auction record. U.S.-based luxury jeweler Harry Winston, owned by Swatch, purchased the rare gem, Christie’s said on Tuesday, and promptly renamed it “The Winston Pink Legacy”. The Fancy vivid pink, VS1 clarity, Type IIa cut-cornered rectangular-cut diamond weighing 18.96 carats, was sold for $49.9 million, or $2.6 million per carat, which is a world record price for a pink diamond.
Christie’s in Hong Kong will auction on 27 November the 24.04-carat pear-shaped, Fancy Yellow Moon of Baroda diamond Marilyn Monroe wore to promote the release of the Howard Hawk’s 1953 film, Gentlemen Prefer Blondes. It could be value anywhere from $500,000 to $750,000, perhaps more. Christie’s will also auction an autographed photo of the actress wearing the stone. The picture has a presale valuation of $10,000 to $15,000.
Russian diamond miner ALROSA recently concluded an auction of special-sized (10.8 carats and above) rough diamonds in New York, earning $7.9 million from the sale of 1,300 carats for an average price of approximately $6,077 per carat. This by far outstrips the average price the miner recently earned at an auction of the same category of diamonds in Hong Kong, which achieved $4,790 per carat.
A Fancy Pink diamond weighing 5.03 carats, VS1 clarity, sold for more than $2.9 million, or $583,551 per carat at Bonhams London Fine Jewelry sale last week (26 September), setting a new auction world record for a Fancy Pink diamond per carat. The previous auction record for a Fancy Pink diamond held by Sotheby's Geneva, May 2016, was $528,021 per carat.
Russia's ALROSA has sold 2,234 carats worth of special size rough diamonds (larger than 10.8 carats) at an auction in Hong Kong, earning $10.7 million in sales revenue at an average price of $4,790 per carat. The 2,234 carats derived from 136 gem-quality diamonds, including 25 fancy yellow stones weighing 440 carats in total. 54 companies from Hong Kong, mainland China, Belgium, Israel and India took part in the auction.
Rio Tinto and Dominion Diamond Mines have revealed three of the finest large rough diamonds from their Diavik diamond mine in Canada, which will be showcased in Antwerp and Israel before being tendered to diamond specialists from around the world. The three rough diamonds, collectively named “The Diavik Stars of the Arctic”, will highlight a rough diamond tender of 'specials' (diamonds weighing more than 10.8 carats) before bids close on October 25.
Russian miner ALROSA's first “True Colours” auction of fancy colored diamonds garnered $9 million from 210 stones. Described as, "another significant step towards our goal of becoming the world leader in the production of coloured diamonds," the bidding was very active, the company said, and most of the lots were sold for well above their starting price.
Christie's has announced that the 18.96-carat Pink Legacy – the largest and finest Fancy Vivid Pink diamond the auctioneer has ever put on the block – will be offered for sale at their Magnificent Jewels auction in Geneva on 13 November. With an estimated price of $30 million to $50 million, it has the potential to break the record price per carat for its color category. That record is currently held by ‘The Pink Promise’, an oval-shaped Fancy Vivid Pink diamond of just under 15 carats, which Christie's sold in Hong Kong last year for $32,480,500 - an incredible $2,175,519 per carat.
Russia's ALROSA, the world's largest diamond mining company, has commenced a rough diamond auction in New York, featuring 81 rare gem-quality 'specials' (diamonds larger then 10.8 carats) discovered in 2017-2018. The auction will include some of ALROSA's most unique recent recoveries, such as a transparent 98-ct diamond with a yellowish hue (pictured above) and a diamond weighing over 100 carats. Both stones were mined at the Yubileinaya pipe in Yakutia.