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Diamond Auction Results And Christie’s New York Sale

2004:Diamond Auction Results Sotheby’s Legal Problems

May 2004

The prices at the recent auctions were very good, and better than the goods would bring on the wholesale diamond market.

The headline making sale at the Hong Kong auction was the $83,000 per carat ($2.65 million U.S. total) achieved for a briolette diamond of 31.08 carats, making a world record price for a colorless diamond briolette at auction.

Christie’s recent New York sale made $20.3 million, with 78% of the lots sold by dollar value. The biggest stone at Christies, a 51.37-carat D flawless pear shape, went for $3.3 million, or $66,000 a carat, beating its estimates. A rectangular –cut fancy vivid blue diamond of 3.77 carats, SI clarity, went for $1,463,500, or $390,000 per carat. The Porges diamond, a square-cut fancy vivid diamond brooch, SI, went for $769,100.

Sotheby’s had a far lower total, of $6.6 million, perhaps reflecting its current legal problems. It sold 75% of lots, including a fancy vivid yellow diamond ring weighing 10.28 carats, natural color, VS clarity, that went for $316,000. One small fancy purplish-red pear-shaped diamond ring, weighting .59 carats, natural color, went for $120,000, or $200,000 a carat. A fancy light purplish pink diamond weighing 5.02 carts, VS1 clarity fetched , or $30,000 per carat.


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