Rare blue diamond sells for more than $3 million at Bonhams



2016-09-21 13:20:31

A rare blue diamond has sold for more than $3 million during a sale of fine jewelry at Bonhams.

The auction house kicked off its fall season in style, with exceptional diamonds, coloured gemstones and pieces from the world's leading designers all crossing the block in London.
The sale achieved a total of $8.36 million, with a strong sell-through rate of 92% by value.

Leading the auction was a very rare oval-cut Fancy Intense Blue diamond, weighing 3.81 carats. Offered from a private British collection, the diamond sold for $3,015,150, or $792,450 per carat.

"Blue diamonds account for only 0.004% of all diamonds mined and are therefore exceptionally rare and remain highly sought after," said Jean Ghika, Head of Jewellery for Bonhams UK & Europe.

"The price achieved in today's auction demonstrates that the global appetite for coloured diamonds remains as buoyant as ever."

Diamonds were much in demand during the three-hour sale, with many lots far exceeding their pre-sale estimates.

Amongst the biggest sellers were an 11.00 carat Marquise-cut white diamond which realized $797,765 against a high estimate of $325,000; a 13.77 carat, Brilliant cut diamond ring, by J. Roca, which sold for $393,000; and a pair of antique diamond earrings, circa 1830, believed to originate from the famed Golconda mines, which beat their top estimate of $52,000 to sell for $135,700.

One of the sale's biggest-selling lots was an exceptional pair of late 19th century Kashmir sapphire earrings. Weighing 8.97 and 8.93 carats, the sapphires saw fierce competition amongst bidders and eventually realized a price of $1.12 million, more than doubling their low estimate.

There were also strong results for signed pieces, including a Harry Winston diamond necklace with 38.00 carats of marquise and pear-shaped diamonds which sold for $143,450; and a gold gem-set and diamond bracelet, made circa 1973 by the British designer Andrew Grima, which realized $30,830.

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