India Luxury Market
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The Pink Star Diamond ring sold for over US$83M ($83142349 or €61,91,2532)
A Fancy Intense Pink Diamond ring has been sold at Christie’s New York for £3,984,750 or $6,325,000. The pink diamond ring with a VVS1 diamond was one of the most wanted Jewels in the Magnificent Jewels auction, held on October 15. Moussaieff Jewellers acquired the gem in a bid, where the rectangular cut 8.77 carats of beauty was expected to fetch between $5,500,000 – 6,500,000. However, it was sold for $6,325,000.
A bigger Pink diamond called the Pink Star is set to go under the hammer, for bidders, at Sotheby’s, in November. The largest fancy vivid Pink Diamond to ever be graded by the Gemological Institute of America, will be auctioned in Geneva. It could command more than US$60 Million.
Among the high priced coloured diamonds, a rectangular-cut Fancy Vivid Blue VS1 diamond of 3.81 carats was won by an anonymous collector for $3,973,000 or £2,502,990. This cushion-cut diamond was valued between $2,500,000 – 3,500,000 but sold for more than the expected rate.
Coloured diamonds are a rarity, thus valued more than colourless diamonds.
The magnificent Jewels auction at Christie’s sold 293 of the 389 lots, for more than US$46.6 Million.
Christie’s next auction of Magnificent Jewels will be held in November, in Geneva. The biggest Orange diamond ever to be auctioned, will be a star attraction here.
*Image: Christie’s
Shilpa is a world renowned journalist and an expert in decoding India and Asia’s luxury markets for global readers. Her original, in-depth reports and analysis are frequently featured in prestigious international titles across the UK, China, Hong Kong, Switzerland, and Oman.
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