24ct. Diamond Beats Estimate at Bonhams

RAPAPORT... A 24.31-carat diamond ring fetched $2.4 million at a Bonhams auction in London onWednesday. The step-cut, D-color, internally flawless piece sold for$98,194 per carat, beating its presale estimate of $1.7 million to $2.3million, the UK company said. "This magnificent gem was greatly admired during our previewsin London, New York, Los Angeles and Hong Kong," said Emily Barber, UK directorof jewelry at Bonhams. "It attracted a lot of interest, not only due to itssignificant size - top-quality diamonds over 20 carats are very rare - but alsodue to its internally flawless clarity and its exceptional white color." Other notable items at the Fine Jewelry sale included a marquise-cut,1.03-carat, fancy-intense-blue, VS1-clarity diamond ring, which garnered$363,734, smashing its estimate of $190,000 to $260,000. Bonhams also sold acushion-shaped, 4.08-carat, Kashmir sapphire brooch with diamonds, which wentunder the hammer for $317,748, well over its original valuation of $160,000 to$230,000. A trio of Art Deco gem-set bracelets by Van Cleef &Arpels also exceeded estimates. The set went for $223,541 against its presalevaluation of $90,000 to $130,000. Total proceeds at the auction came to $6.6 million. Image: The 24.31-carat diamond ring. (Bonhams)