Pair of pear-shaped di­a­mond ear­rings sell for $17.6 mil­lion

China Daily (USA) - - WORLD - By AS­SO­CI­ATED PRESS in Geneva

A pair of pear-shaped di­a­mond ear­rings sold on Tues­day in Geneva for $17.6 mil­lion in­clud­ing fees, fall­ing well short of the pre-sale es­ti­mate and sug­gest­ing that the auc­tion house may have mis­judged the mar­ket for that piece.

The ul­tra-or­nate ear­rings were a stand­out item in the “Mag­nif­i­cent Jewels” auc­tion that reaped about $97 mil­lion over­all, at the high­end of the ex­pected range, de­spite some dis­ap­point­ments.

The Christie’s touted the “Miroir de l’Amour” (Mir­ror of Love) ear­rings as bear­ing the largest D Flaw­less, or high­est-qual­ity, pear-shaped di­a­monds in the world at more than 50 carats each.

The white-di­a­mond ear­rings sold for a ham­mer price of $15.4 mil­lion, when the pre-auc­tion es­ti­mate was $20 mil­lion to $30 mil­lion. The buyer was not iden­ti­fied other than as a col­lec­tor.

Auc­tion­eer Rahul Kadakia said “passed” as he struck the ham­mer on a few of the lots, mean­ing that they had fallen short of the min­i­mum price set for a sale.

“We had a pre-sale es­ti­mate of $80 to $100 mil­lion. ... We’re very happy,” he said. “A few lots didn’t move. Fine. But the big di­a­monds, the big neck­lace, the big pink di­a­mond, you sawall the col­ored stones did very well — the ru­bies, the sap­phire, emer­alds and nat­u­ral pearls.”

The ear­rings, he said, “came in un­der the es­ti­mate, but if you look at the price per carat based on where the mar­ket is today, ... We got a very healthy price”.

Asian pri­vate col­lec­tor

In another top of­fer, a 9.14-carat, pear-shaped pink di­a­mond ring fetched $18.2 mil­lion in­clud­ing fees, with a ham­mer price of $16 mil­lion af­ter be­ing tipped to fetch $16-18 mil­lion.

Christie’s said the gem’s dis­tinct pink hue is highly prized when it comes to nat­u­ral col­ored di­a­monds. It also trum­peted the di­a­mond’s “fancy vivid” color grade by the Ge­mo­log­i­cal In­sti­tute of Amer­ica, say­ing a clas­si­fi­ca­tion of “fancy” is only be­stowed on one in 100,000 di­a­monds.

An Asian pri­vate col­lec­tor snapped up the ring, Kadakia said.

Among other high­lights, a Van Cleef and Ar­pels ruby and di­a­mond bracelet fetched nearly $1.31 mil­lion, in­clud­ing the buyer’s pre­mium more than twice the top of the pre-sale es­ti­mate, prompt­ing ap­plause­fromthe well-heeled crowd in­Geneva.

REUTERS

An as­sis­tant wears the ear­rings dur­ing a sale preview.

Newspapers in English

Newspapers from China

© PressReader. All rights reserved.