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Sotheby's Sells 10.99ct Pink Diamond for $11M

Diamond, Emerald Tiara Sells for $13M
May 17, 2011 4:43 PM   By Jeff Miller
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RAPAPORT...  Sotheby's Geneva sold a very important and rare 10.99-carat fancy intense pink diamond ring for $10.84 million (CHF 9,602,500), or about $986,000 per carat. The stone was bought by International Jewellers Leviev, which outbid four under-bidders to close the deal. The piece represented the ninth highest price for a diamond sold at auction, Sotheby’s noted.

Sotheby’s garnered sales of $89.1 million (CHF 78.9 million) at the Geneva magnificent and noble jewels auction on May 17, with 97.5 percent sold by value and 90.4 percent by lot.

The total included a rare emerald and diamond tiara that was formerly in the collection from Princes Katharina Henckel Von Donnersmarck. The tiara fetched $12.74 million (CHF 11,282,500) with the winner outbidding five other bidders.

“Sotheby’s was honored to be able to offer perhaps the grandest piece of jewelry to come to sale in over 30 years and the market responded with enthusiasm,” said David Bennett, chairman of Sotheby’s jewelry department for Europe and the Middle East. “This evening’s results, across the board -- in noble jewels, diamonds, colored gemstones, and pieces signed by the world’s greatest jewelers – show the extraordinary appetite among connoisseurs for rarity, quality and provenance.”

Other top sellers included a cushion-shape, brilliant-cut,16.53-carat, D, IF diamond ring by Graff, that sold for $2.87 million (CHF 2,546,500), or $173,912 per carat. A marquise-shape, 15.76-carat diamond ring by M. Gerard sold for $1.5 million (CHF 1.3 million) wih five bidders competing for the piece.

View the top lots in the Rapaport Broadcast of May 11.

Tags: geneva, Jeff Miller, jewels, sale, sothebys
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