Ring breaks auctioneer’s record as it goes for £1.3m
A HISTORIC Birmingham Jewellery Quarter auction house has set new records after a diamond ring went under the hammer for £1.3 million.
The ring was the biggest sale in the 141-year history of Fellows Auctioneers, and has broken all UK regional auction house records this year.
The 43.59 carat Graff Fancy Intense Yellow Diamond Ring sold for £1.1 million, a figure which rose to £1,307,600 with auction fees and VAT.
A family from the UK had placed the ring in the auction.
It was purchased by an unknown telephone bidder following a bidding frenzy both in the auction room and by telephone.
Alexandra Whittaker, spokeswoman for Fellows, said: “To date, the Graff Fancy Yellow Diamond ring is the most important and the most expensive item to sell in our 141-year history. This is not only great news for us but also the Jewellery Quarter as it shines a spotlight on the roaring jewellery trade that is happening outside London.
“We are delighted with this result. It was a privilege to sell such an important jewel here in Birmingham’s historic and world-renowned Jewellery Quarter.”
The 43.59 carat Fancy Intense Yellow radiant-cut VS2 diamond was set between two white tapered diamond shoulders at 1.62 carats in total. The yellow diamond was the centrepiece of an exquisite ring created by Graff Diamonds.
The diamond ring has broken the previous record at Fellows set in February, where a Chinese vase sold for £810,000.