Sotheby’s Magnificent Jewels auction hits £43m

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Sotheby’s New York is celebrating the success of its Magnificent Jewels auction, which raised a staggering $65.1 million (£43m) yesterday (April 22).

The star of the event was the 100.2ct flawless D colour ‘Ultimate Emerald-cut’ diamond, which sold for $22.1m (£14.6m).

This stone is the largest perfect diamond with a classic emerald-cut ever sold at auction, and the first 100 plus carat diamond sold at auction in New York. It is also the highest price achieved for any colourless diamond auctioned in New York.

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Overall, ten jewels exceeded $1m (£664,000), including four which were sold to online bidders.

Lisa Hubbard, chairman of North & South America in Sotheby’s international jewellery division, commented: “This diamond is exceptional in every sense of the word, and we were thrilled to see it achieve such a strong result. The stone captivated people around the world throughout our extensive travels this spring, but it was a particular privilege to offer it at our New York headquarters.

“Including today’s result, only six perfect diamonds weighing over 100 carats have sold at auction in the last 25 years – a testament to the incredible rarity of these stones. Sotheby’s sold five of those spectacular diamonds, including sales in Geneva, Hong Kong, and now New York.”

Other highlights of the sale include a platinum and oval diamond ring with 22.30 carats, which sold to an online bidder for $3.3m (£2.19m), and an 18ct gold ring with a 6.24ct fancy purplish pink diamond and two cushion cut Kashmir sapphires, which sold for $2.4m (£1.59m).

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