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Fancy Vivid Purple-Pink, Blue & Yellow Diamonds to Color Spring Jewels Auction

by WorthPoint Staff (03/28/11).

A Fancy Vivid Purple-Pink Diamond of 10.09 carats is expected to bring between $12 and $15 million at Christie’s Magnificent Jewels sale, slated for on April 12.

NEW YORK – An exceptional line-up of top-quality fancy colored diamonds in decidedly Spring-like shades of pink, blue and yellow have been added to Christie’s Magnificent Jewels sale, slated for on April 12.

Christie’s had previously announced its star lot of the sale, a Fancy Vivid Purple-Pink diamond of 10.09 carats with a presale estimate of between $12 and $15 million. In keeping with collector demand, the upcoming sale will feature a wealth of these highly sought-after jewels, including Fancy Vivid blue, Fancy Vivid yellow and Fancy Intense Pink diamonds of superior size, clarity and color saturation.

“Demand for large, colored diamonds from connoisseurs and investors continues to reach new heights, and we look forward to starting the spring season with this exceptional group of top colored diamonds, curated with the specific desires of today’s collectors in mind,” said Rahul Kadakia, head of Jewelry at Christie’s New York. “Our 2010 global jewelry sales total—the highest ever for any auction house at $426 million—was led by extraordinary prices for colored diamonds, including the BVLGARI Blue sold in New York for a record $1.4-million per carat and the Perfect Pink, sold in Hong Kong for $23.1 million.”

Perhaps no greater phenomenon has electrified the global jewelry market in the past year than the skyrocketing prices achieved for large pink diamonds at auction. In the last 15 months, four pink diamonds have fetched more than $1 million per carat at auction, paced by the Vivid Pink, a 5-carat, cushion-cut diamond that sold for more than $2.1-million per carat at Christies Hong Kong in December 2009—a record per-carat price for any diamond sold at auction.

“Fewer than 10 percent of all pink diamonds mined weigh more than 0.2 carats, and even fewer exhibit the exceptional color saturation and brilliance of this exceptional gem,” Kadakia said. “In all my years at Christie’s, I have never seen such vivid color in a stone of this size.”

A Fancy Vivid Yellow Diamond of 50.29 carats, by Carvin French, is estimated $2 to $3 million.

A Fancy Vivid Blue Diamond of 3.25 carats is also estimated to sell for $2 to $3 million.

In recent years, prices for top-quality colored diamonds have increased rapidly, driven by both collector demand and increasingly limited supply. Pink diamonds of this type gain their highly desirable color as a result of a rare, naturally-occurring slippage of the crystallographic lattice in the stone while it is forming deep within the earth’s crust. Only a few mines in the world produce pink diamond though, and of the stones that are cut and polished, only one in about 10 million diamonds will possess a color pure enough to be graded as “Fancy Vivid.”

A V-shaped diamond necklace of approximately 120 carats total, the front set with a pear-shaped diamond, weighing approximately 4.07 carats, mounted in platinum, and additional diamonds weighing from 1.74 to 4.07 carats, is expected to bring between $500,000 and $700,000 at auction.

An antique old mine-cut diamond brooch suspending three detachable old mine-cut diamonds from a diamond-set trellis panel with central old mine-cut diamond, circa 1860, holds a presale estimate of $350,000-$500,000.

A graduated series of rectangular-cut peridots, each within a diamond scalloped surround, suspending a series of detachable peridot pendants, circa 1870, is estimated to bring $250,000-$350,000 at auction.

With nearly 300 individual items on offer, the sale also includes a full array of precious gemstones, period jewels and signed creations from the leading jewelry houses. Estimates range from $2,000 up to $12 million, and the total sale is expected to achieve in excess of $40 million.

For more information about this auction, view the Christie’s online catalog.

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