Record breaking ring reaches $15.7million at auction in New York
The BVLGARI Blue, a two-stone ring featuring a rare Fancy Vivid Blue diamond of 10.95 carats set a new world record last month after selling for $1.4million (£873,427.90) per carat, totalling $15.7million (£10,039,808).
The record breaking sale took place at Christie’s New York Jewels Sale on October 20, which exceeded a grand total of US$50 million in the 450-lot sale.
Rahul Kadakia, Head of Jewellery for Christies Americas commented, “A world record price was achieved on October 20 for The BVLGARI Blue, a much-celebrated stone that came up for sale at Christie’s for the first time in almost 40 years. It had been purchased at the BVLGARI boutique in Rome in 1972 for just $1 million – the equivalent of about $5 million today. With a sold price of $15.7 million, the stone tripled its value in that time, demonstrating the incredible resilience of diamonds in today’s volatile economic environment and the true, lasting value of fine jewellery.”
Designed by the legendary house of BVLGARI in the 1970s, the ring features a triangular-shaped colourless diamond of 9.87 carats paired with a triangular-shaped Fancy Vivid blue diamond of 10.95 carats. Fancy Vivid blue diamonds are among the rarest and most sought-after of coloured diamonds, as only one in about 10 million possess a colour pure enough to qualify as “Fancy Vivid”.
Earlier in the day, Christie’s achieved an impressive 100% sell-through rate for Jeweled Elegance: The Eye of A Distinguished Collector, a carefully-curated single-owner collection of signed jewels from designers including Cartier, David Webb, Van Cleef & Arpels, and Harry Winston.