Art Market Monitor

Global Coverage ~ Unique Analysis

  • AMMpro
  • AMM Fantasy Collecting Game
  • Podcast
  • Contact Us

Blue Diamond Caps Sotheby's HK Sale

April 9, 2010 by Marion Maneker

Sotheby’s Blue Diamond goes to an international diamond merchant in further support of the colored diamond market, according to Bloomberg:

Moussaieff Jewellers Ltd.’s founder Alisa Moussaieff paid HK$49.9 million ($6.4 million) for a 5.16-carat blue diamond at a Hong Kong auction, beating Asian rivals with a price she says is less than the gem’s real worth.

Moussaieff, 80, says the fancy-vivid, internally flawless gem has a market value of about $1.5 million per carat and that she would have raised her bid had her rival persisted. A blue diamond of that size and caliber is so rare that it’s worth about $2 million a carat and high-street stores like Moussaieff could ask for $3 million, said Donald May, a Hong Kong-based jeweler who was also at the sale. A carat is a fifth of a gram.

“It’s a bargain and I got it at this price because everyone was asleep,” Moussaieff said in an interview. Her London-based boutique will change the gem’s mounting and offer the stone “to discerning clients, possibly in Asia,” she said. […] The auction record for a blue diamond was set by Hong Kong property tycoon Joseph Lau in May with his purchase of a 7.03- carat gem in Geneva for 10.5 million Swiss francs ($9.8 million).

Moussaieff Pays $6.4 Million for Blue Diamond at Hong Kong Sale (Bloomberg)

More from Art Market Monitor

  • The Pinkest of Pink Diamonds Comes to Christie’s at $30mThe Pinkest of Pink Diamonds Comes to Christie’s at $30m
  • Sotheby’s to Offer $20-30m Raj Pink in GenevaSotheby’s to Offer $20-30m Raj Pink in Geneva
  • Hot On the Trail of Sotheby’s Pink Diamond SaleHot On the Trail of Sotheby’s Pink Diamond Sale
  • Hong Kong Rises as Gem & Jewelry Center Reflecting Asian Appetite for Alternative Stores of ValueHong Kong Rises as Gem & Jewelry Center Reflecting Asian Appetite for Alternative Stores of Value
  • Sotheby’s Brings ‘Pink Star’ Diamond to Hong KongSotheby’s Brings ‘Pink Star’ Diamond to Hong Kong
  • Sotheby’s Puts Real Estate, Classic Car, Jewelry and Watches Under One ExecutiveSotheby’s Puts Real Estate, Classic Car, Jewelry and Watches Under One Executive

Filed Under: Auction Results Tagged With: Gems and Jewelry

About Marion Maneker

LiveArt

Want to get Art Market Monitor‘s posts sent to you in our email? Sign up below by clicking on the Subscribe button.

  • About Us/ Contact
  • Podcast
  • AMMpro
  • Newsletter
  • FAQ

twitterfacebooksoundcloud
Privacy Policy
Terms & Conditions
California Privacy Rights
Do Not Sell My Personal Information
Advertise on Art Market Monitor