Christie’s International regained the record for top jewelry auction one day after losing it to Sotheby’s record-breaking sale of $16.3 million for the Graff Vivid Yellow. The Pear Shape diamond with a 13.22 carat weight set the new world record as it sold for $23.8 million. It is the one of the world’s largest flawless diamonds of this size and color – in the past 30 years, only three blue diamonds with a 10 carat weight or more with the same vivid grading have been brought to auction. Although none of these diamonds weighed more than 12 carat, and none were flawless.
Colored diamonds have never been more popular or fetched higher prices before. The competitive bidding for this blue diamond nicknamed “The Blue” is a perfect demonstration of that. Fancy color diamonds are very popular at auctions and will often exceed their valuations. Experts say the increase is driven by greater consumer awareness of the availabilities the diamond market has to offer. People are looking for unusual alternatives to a clear diamond, which allows them to express their own personality.
The Blue is without a doubt a great investment opportunity and has set a new world record with its $23.8 million selling price. Stones of this size, quality and especially color are extremely rare and the price will have increased considerably by the time it enters the auction stage once again.