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Rare blue diamond breaks auction records

15 May 2018


A 3.47-carat fancy intense blue diamond ring

 

An exceptional 3.47-carat fancy intense blue diamond ring set a new world auction record when it sold for US$6.7 million at a recent Sotheby’s sale in New York.

According to the auction house, the ring fetched a per-carat price of US$1,920,259, smashing global records. It also surpassed a pre-sale price estimate of around US$2 million to US$2.5 million.

Gary Schuler, chairman of Sotheby’s Jewelry Division, Americas, commented, “Our results affirm that the auction market continues to flex its strength in top-quality diamonds, important gemstones and jewels with distinguished provenance. We are proud to continue the long line of exceptional diamonds at Sotheby’s, with the sale of the fancy intense blue diamond ring that soared to US$6.7 million after competition from three bidders.”

Schuler added that online bidding and buying also contributed significantly to the total earnings of US$34 million, including the historic emerald and diamond necklace by Tiffany & Co formerly in the collection of American philanthropist Betsey Cushing Whitney.