Rare blue diamond by Bulgari sells for $2.9m at fine jewellery sale

paulfrasercollectibles

2015-06-26 12:34:22

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Rare blue diamond by Bulgari sells for $2.9m at fine jewellery sale

Bonhams jewellery auction in London realised a nearly $8m total with 90% of lots sold by value

Paul Fraser Collectibles,Thursday 22September 2011

One of the world's rarest stones, a blue diamond, sold yesterday (September 21) for 1,889,250 ($2,960,190) at the Bonhams Fine Jewellery Sale in London.

Originally estimated to sell for 600,000 - 800,000, the stunning diamond and blue diamond crossover ring made by Bulgari circa 1960 received an unprecedented amount of interest from national and international clients.

The ring came from a private European collector and had never been seen at auction, resulting in a prolonged bidding session, with multiple bidders battling for the top lot. The ring finally sold to a bidder on the phone.

Typical of Bulgari's elegant simplicity, the ring offered by Bonhams was set obliquely with a pear-shaped diamond, weighing 3.93 carats, D colour, VS2 clarity, and a pear-shaped fancy vivid, natural blue diamond (the highest grading for a coloured diamond), weighing 3.72 and SI2 clarity.

This meant the blue diamond sold for 492,000 per carat.

The term "fancy" is used to describe a diamond of intense colour and the colour "fancy vivid blue" is one of the rarest. Blue diamonds are structurally the purest of all diamonds, with barely any impurities within their crystal lattice. They account for less than one percent of all diamonds mined.

"Not only was this jewel an exquisite example of Bulgari's craftsmanship at this period, but the fancy vivid blue diamond is an incredibly rare gem in its own right," said Jean Ghika, Director of jewellery.

"Bonhams was delighted to handle the sale of this magnificent ring, and the final price realised demonstrates the demand, at an international level, in pieces of this quality".

One of the world's rarest stones, a blue diamond, sold for 1.8m

Other signed pieces of jewellery offered by Bonhams were highly sought after, including a diamond single-stone ring by Harry Winston. Estimated at 120,000 - 150,000, the step-cut diamond weighed 7.62 carats, with E colour and VS1 clarity, realised 265,250.

Also by Harry Winston, a stunning diamond necklace, designed as a riviere of graduated brilliant-cut diamond between a course of smaller brilliant-cut diamonds, weighing 33 carats in total, surpassed its presale estimate of 80,000 - 120,000 to sell for 199,250.

A second blue diamond, classified as fancy-greyish blue, circa 1925 sold for 103,250, over double its presale estimate.

Top prices were also realised for natural pearls, with a number of lots exceeding their presale estimates. A double-row natural pearl necklace with a diamond clasp sold for 253,250 and a natural pearl and diamond ring realised 20,000, far exceeding the presale estimate of 6,000 - 8,000.

"Despite tough economic times, interest in pieces of jewellery of the highest quality is increasing. We always suggest that clients buy jewellery to wear and enjoy, rather than specifically for investment purposes," commented Jean Ghika.

"However, it is clear from the results of this sale that there are certainly some clients who are attracted by the fact that jewellery is a tangible asset which may grow in value in years to come.

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