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Thu, 14 Nov 2013

Sotheby's Makes History with Highest Total Jewelry Sale, $83 Million Pink Diamond Sets World Record

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Sotheby's Makes History with Highest Total Jewelry Sale, $83 Million Pink Diamond Sets World Record
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By Erika Winters

On November 13, 2013, Sotheby's Geneva made history when it sold the 59.60-carat Pink Star diamond for $83 million, a world auction record for a diamond and any gemstone or jewel. And the auction house also achieved the "highest jewelry sale total in history," as its Magnificent Jewels sale garnered $199.5 million.


The Pink Star • 59.6-carat diamond • Sotheby's Geneva Sotheby's Image: David Bennet, chairman of Sotheby's jewelry department in Europe and the Middle East, auctioneering the $83 million Pink Star diamond


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Jewelry Auction News

By Erika Winters

The Pink Star • 59.6-carat diamond • Sotheby's Geneva Sotheby's Image: David Bennet, chairman of Sotheby's jewelry department in Europe and the Middle East, auctioneering the $83 million Pink Star diamond


On November 13, 2013, Sotheby's Geneva made history when it sold the 59.60-carat Pink Star diamond for $83 million, a world auction record for a diamond and any gemstone or jewel. And the auction house also achieved the "highest jewelry sale total in history," as its Magnificent Jewels sale garnered $199.5 million.

The Pink Star--the largest internally-flawless fancy-vivid pink diamond ever graded by the Gemological Institute of America (GIA)--was bought after about 5 minutes of bidding by New York-based diamond cutter Isaac Wolf. After the sale Wolf renamed the diamond the Pink Dream.

Watch the Pink Dream diamond make history at Sotheby's.

"The Pink Star is a true masterpiece of nature," said David Bennet, chairman of Sotheby's jewelry department in Europe and the Middle East. "Its immense importance was reflected tonight in the strength of the bidding, and we are thrilled that the record price it achieved earned it a place in history. Today's record sale is a further testimony to the strength and depth of the diamond and jewellery market."

The Pink Star is over twice the size of the Graff Pink, a 24.78-carat fancy intense pink diamond that held the previous world auction record for a diamond and any gemstone or jewel, selling for $46.2 million at Sotheby's Geneva in 2010.

Sotheby's Geneva Magnificent Jewels sale, which comprised 366 lots--selling 91.8% by lot and 97.3% by value--also established several additional world records including records for a jewel by Van Cleef & Arpels and a pair of colorless diamonds and several records for sapphire jewels.

The previous world record total for a jewelry sale was established at Christie's New York in December 2011 for the sale of Elizabeth Taylor's jewelry collection, which garnered $137 million.

Visit Sotheby's to view results from the Geneva Magnificent Jewels sale.


The Pink Star • 59.6-carat diamond • Sotheby's Geneva

The 59.6-carat Pink Star diamond made history at Sotheby's Geneva, selling for $83 million on November 13, 2013. The diamond was bought by New York-based diamond cutter Isaac Wolf, who has renamed the diamond the Pink Dream. Image: Sotheby's


The Walska Briolette Diamond brooch by Van Cleef & Arpels

The Walska Briolette Diamond brooch set a world auction record for a jewel by Van Cleef & Arpels, selling for $10.5 million at Sotheby's Geneva. Created in 1971, the brooch showcases the 96.62-carat fancy-vivid yellow Walska Briolette Diamond. The diamond was formerly owned by Ganna Walska, an opera singer and jewelry connoisseur. Image: Sotheby's

The Richelieu Sapphires

The Richelieu Sapphires, a pair of Kashmir sapphires weighing a total of 47 carats, established a new auction record for sapphire jewels, a Kashmir sapphire, and a record price per carat for a sapphire. The sapphires, mounted with diamonds as earrings, sold for $8.4 million. The Richelieu Sapphires were from the collection of Odile de Richelieu (1879-1974), Countess Gabriel de La Rochefoucauld, Princess de La Rochefoucauld. Image: Sotheby's

A pair of D-color, internally-flawless diamonds weighing 23.77 and 23.78 carats

A pair of D-color, internally-flawless diamonds weighing 23.77 and 23.78 carats set a new world auction record for a pair of colorless diamonds, selling for $9.2 million at Sotheby's Geneva. Image: Sotheby's



More jewelry auction news:

59-Carat "Pink Star" Diamond Sells for World Record $83 Million

14.82-Carat Orange Diamond Sells for Record $35.5 Million at Christie's

Sotheby's to Auction Rare 7.59-Carat Fancy Vivid Blue Diamond



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