Fine diamonds achieve top prices at Sotheby’s

Top-grade diamonds, led by the 28.88-carat De Beers Jwaneng diamond, were the stars of Sotheby’s Hong Kong High Jewelry auction held on April 24.

The D-colour, flawless, Type IIa, unmounted diamond from the legendary Jwaneng mine in Botswana sold for HK$21.03 million (around US$2.68 million), well within estimates of HK$17 million to HK$22 million (approximately US$2.18 million to US$2.82 million).

“The natural diamond market proved resilient while vintage gems and diamond jewels climbed multiple times beyond expectations,” shared Stewart Young, senior director and head of Jewelry at Sotheby’s Asia.

Other white diamonds performed well, too. An 18.29-carat D-colour internally flawless pear-shaped diamond fetched more than double its low estimate at around HK$9 million (about US$1.15 million) and a Graff ring featuring a 10.45-carat D-colour, VVS1 (potential), Type IIa round brilliant-cut diamond achieved HK$5.76 million (around US$738,000).

Fancy colour diamonds also saw a solid performance, including a 1.06-carat fancy pink diamond of VS1 clarity from the last Argyle diamond tender in 2021, which netted HK$1.53 million (approximately US$197,000). 

Signed jewels, meanwhile, are experiencing renewed momentum, resonating not only with traditional connoisseurs but also with a broader generation of collectors, according to Sotheby’s.

Cartier's “Tutti Frutti” pendant necklace sparked an “intense bidding battle” with more than 30 bids, attaining double its high estimate at HK$21.64 million (about US$2.76 million) while a Van Cleef & Arpels sapphire and diamond bracelet sold for HK$5.76 million (around US$735,610).

Sotheby’s said its Hong Kong High Jewelry live sale achieved the highest-ever sell through rate, with 89 per cent of lots sold and overall revenues reaching HK$257 million (around US$32.81 million).

News by @JNA