Diamonds.net recaps the recent Sotheby’s sale of $30m worth of diamonds and jewelry in New York. The sale was comparable with some of the best pre-bubble and pre-crash sales. Of particular note is the demand for stylish jewelry but also the desire for large diamonds among Asian private buyers. Amber Michelle talks to Sotheby’s Lisa Hubbard:
Hubbard noted that at the time the larger diamonds were put into the sale, they were estimated at the 5-carat list price, with no premium for size. Diamond prices were strong at this sale and the bigger stones continued a trend of going to Asian buyers. “Asian buyers are becoming increasingly important,” observes Hubbard. “They are now making their impact felt globally. They will buy wherever great stones are.” Much of the diamond buying came from privates, who outbid the trade all across the board, from the large, important stones to the more everyday diamonds ranging in size from 4 carats to 10 carats. […]
Of particular note was a ring with an 11.05-carat yellow diamond and emeralds by Louis Comfort Tiffany, circa 1915 to 1920. The quality of craftsmanship, the detail, the style, the stones and, of course, the signature made this ring a truly special piece of jewelry history. It was rumored that dealers were looking at the ring to recut the diamond to get a better color. Bidding was very active for this ring, which was estimated at $200,000 to $300,000. It finally sold to an anonymous private for $818,500.
A Stylish Sale (Diamonds.net)