Confirming the good health of the diamond market, with a focus on colored diamonds, the Sotheby’s Geneva autumn sale of magnificent jewels showed very rewarding results. Following the positive trend in diamond prices for colored diamonds and market prices for rubies, sapphires and emeralds, the jewelry auction fetched a total of $95.3 million with 90% selling by lot.
The absolute highlight of the jewelry auction was the 8.6 carat cushion shape Burmese ruby gem, selling for $8.6 million which set a world record price ever fetched for a ruby including the highest price per carat which was $997,727 per carat. What adds to the remarkable colored stone prices, is the exceptional 27.5 diamond ring set with Kashmir sapphire which sold for $5,984,474 setting a new world record auction price for a Kashmir Sapphire.
Other exceptional diamonds that went under the hammer include a stunning pair of 20 carat oval diamond earrings, both D color, Flawless, excellent cut grade type IIa which sold for $7,147,112 or $178,188 per carat. The beautiful 3 carat diamond ring set with a fancy intense blue diamond of 3.16 carat sold for $1,010,804 per carat, or $3,194,141 in total. In recent diamond auctions, many loose diamonds and diamond jewelry have broken record after record, with an especially positive development for colored diamonds.