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Recent Diamond Auction

Dear Clients,

Sometimes, I love to share global jewelry news because it takes us from the quotidian into the stratosphere of gem rarity. You know I’m a gem geek, so here goes.

According to an industry publication “At Phillips’ recent Geneva auction, a fancy red diamond set a world record while a 6-carat fancy vivid pink diamond brought in over $10 million.The “Argyle Phoenix” sold to Laurence Graff, founder of Graff Diamonds, for more than double its estimate, going for CHF 3.8 million ($4.2 million, or $2.7 million per carat).”

RedDiamond blog

The Phoenix weighs 1.56 carats and comes from the now-closed Argyll Mine in Australia. The Argyll was home to most of the world’s colored diamonds and last year, it was closed.  Red diamonds are in the top .001 for rarity, along with orange and pink. I have never seen such a vivid red diamond so, of course, I wanted to share it with you. Phillips said the stone set two auction records for a fancy red diamond, one for price and one for price per carat.

Pink diamond web

The pink one shown here is also exceptional because it weighs 6.21 carats (!), has VS clarity (almost unheard of for a colored diamond) and is a vivid pink, unlike many pinks which are paler and can have a brownish hue. This big girl sold for $11.9 million  ($1.9 million per carat.)

Stay well.