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How diamonds can be rock-solid investmentsNew grading makes buying stones as clear-cut as possible Diamonds investment at Sotheby's Auction: Rare Blue Six-Carat Diamond Bidding War Breaks 20-Year-Old RecordBy Debra Beste Oct 10, 2007 found at nationalledger.com
and other sources Sotheby's Hong Kong has broken a 20-year record during its auction of a fancy vivid
rare blue 6.04 carat diamond. The diamond earned a sales price of $7.9 million which means the stone delivered $1.3 million per carat. A bidding war drove the price sky high and that amount is the highest price per carat in 20 years. Such a record was held until now by the 0.90 carat Hancock Red diamond which was sold for $880,000 in 1987 –the highest price paid per carat in an auction, also for 20 years. related: diamond investment NOT .. Diamonds investmentOct. 9, 2007found at Bloomberg -- A flawless, 6.04-carat, blue diamond ring sold for HK$61.9 million ($8 million) at Sotheby's in Hong Kong, breaking a 20-year-old auction record for a gem. The diamond surpassed the per-carat record set in 1987 in New York when a red 0.9-carat diamond sold for the equivalent of $926,000 per carat, Sotheby's said in a faxed statement. An emerald rope-necklace that previously belonged to the American songwriter and lyricist Irving Berlin also sold for HK$20.5 million, including commission, at yesterday's sale in Hong Kong. The winning bidder for the blue diamond, which had a pre-sale top estimate of HK$48 million, was Moussaieff Jewellers , according to the auction house. The London-based jeweler couldn't immediately be reached for comment. A carat is a fifth of a gram. The world's largest blue diamond is the 45.52-carat Hope Diamond, according to Web site Internet Stones.com. The auction of gems and jewelry fetched a combined HK$316.8 million. Of the 327 lots offered, 212 were sold, Sotheby's said. Asian buyers bought five of the 10 most-expensive lots, according to the statement. The sale was part of Sotheby's four-day auction of ceramics, paintings and jewels, which ends this evening. Sotheby's and bigger rival Christie's International hold biannual auctions in Hong Kong, the world's third-largest art auction market after New York and London. To contact the reporters for this story: Le-Min Lim in Hong Kong at lmlim@bloomberg.net Last Updated: October 9, 2007 00:27 EDT
Sotheby's Hong Kong Magnificent Jewels Sale Nears $41Mfound at RAPAPORT 10/09/07... Hong Kong:
Mr. Quek Chin Yeow, head of Sotheby’s Hong Kong Jewellery Department and deputy chairman of Sotheby’s Asia, said, “The results of today’s sale were the latest in a series of triumphs for Sotheby’s Hong Kong, which dominates the market at the top end for white and colored diamonds in Asia. "The HK$10,252,897 ($1,321,590) price per carat achieved tonight for the internally flawless diamond, substantially exceeded the prior record price per carat of $926,000 for the Hancock Red and almost doubled the recent per carat price for a blue diamond achieved elsewhere at auction. An important emerald with a famous provenance also performed very well and a very fine collection of jadeite jewellery assembled by an important Asian private collector sparked strong competition.” The ‘Irving Berlin Emerald’ – an Important Emerald and Diamond Sautoir, featuring an extremely rare deep, vivid green emerald weighing 47.60 carats brought the remarkable price of HK$20,487,500 ($2,640,634.) With certified Colombian origins, a renowned source for emeralds of vibrant color and fine clarity, the stone had been formerly owned by America’s best-loved songwriter and lyricist Irving Berlin and his wife Ellin Mackay. Another magnificent colored stone, a Superb Ruby and Diamond Ring by James de Givenchy for Taffin (est. HK$12-14 million) fetched HK$14,551,500 ($1,875,543.) Set in an elegant and innovative micro-pave diamond-set frame by renowned jewellery designer James de Givenchy, nephew of the legendary fashion guru Hubert de Givenchy, the 7.20 carat ruby boasts the fabulous red color, the rarest and most sought-after of its kind.
found at Sotheby's
Hong Kong oct 8, 2007 auction CATALOGUE NOTE Ring size: 6 Related article:
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In
an evening sale session before an audience hushed in anticipation, after eight
tense minutes of bidding and competition between no fewer than seven telephone
bidders, Sotheby’s broke an auction record which had stood for more than 20
years. Sotheby's set the per-carat record for a gemstone at auction when it sold
a 6.04 carat internally-flawless emerald-cut Fancy Vivid Blue Diamond Ring for
HK$61,927,500 ($7,981,835) -- (est. HK$35-48 million.)
LOT
1128 