[intro]World Record Per Carat Prices for Green and Blue Diamonds in Geneva[/intro]
Sotheby’s Geneva sale of Gems and Jewelry confirmed a few important trends in the precious stone and jewelry market: large colored diamonds, other colored precious stones and jewelry with noble provenance and designer pedigree are attracting all the serious money. This illustrates the overall tendency of the luxury market to gravitate toward the unique as a store of value.
Sotheby’s sale made $36.682m against an estimate of $29.5m. When the buyer’s premium is factored in, the sale was slightly above the low estimate. Sell-through rates, too, were positive at 79%.
Four of the top ten lots were large colored diamonds of the kind that have excited the market over the last few years. There were pink, blue, green and yellow examples. The yellow and blue diamonds were bought by London jewellers, Chatila. The pink was purchased by the international jewelry trade and the green went to an Asian private buyer.
In addition to the colored stones, there were three large white diamonds–one as big as 21 carats–in the top ten lots.
Finally, jewelry items owned by the Duchess of Roxburghe, the Grand Duchess Maria Pavlovna and socialite Daisy Fellowes all sold well reinforcing the point that diamonds may be declining in sales volume at retail but vintage jewelry with distinguished and distinguishing provenance has value far above the market price of the consituent stones.