The sale of a pear-shaped pink diamond for £14.44 million has prompted Christie’s to claim that “diamonds are bouncing back”.
Rahul Kadakia, international head of jewellery at Christie’s, said: “It made a great price for a really fabulous pair of diamonds. Very healthy prices will give a great boost to the white diamond market.”
The diamond went on Tuesday to an Asian collector bidding by telephone at an auction marked by “healthy prices”, Christie’s said.
The top lot at its semi-annual Geneva sale, the stone weighs 9.14 carats and is graded fancy vivid pink, the highest possible colour grading. Its pre-sale estimate was between about £13 million and £15 million, Reuters reported. In the end the stone went for £14.44 million, achieving the second highest price for a pink pear-shaped diamond sold at auction.
In May, rival Sotheby’s sold a pear-shaped vivid pink diamond of 15.38 carats for £24.6, setting a world record.
Christie’s, celebrating its 250th anniversary, netted nearly £78 million with 77% of 217 lots sold, against £88 million a year ago. Several major gems, including a Colombian emerald and diamond ring by New York jeweller David Webb, stalled on the block, according to Reuters.