3ct. Blue Sells for $1.4M at Fortuna

RAPAPORT... Fortuna recorded its largest auction to date as a blue diamond ring fetched $1.4 million in New York earlier this month. The pear-shaped, 3.05-carat, fancy-intense-blue, SI2-claritydiamond ring surrounded by pink diamonds had a presale estimate of $1.2 millionto $1.8 million. That piece led Fortuna's Magnificent Jewels sale, which garnereda total of $4 million, with 83% of lots sold. Other notable items included anold European-cut, 6.95-carat, J-color, VS2-clarity diamond ring surrounded by5.25 carats of yellow diamonds, signed by designer Ren?(C) Boivin, which sold for$137,500 against a presale estimate of $130,000 to $160,000. An Art Decobracelet by Cartier, featuring 5.25 carats of baguette- and rectangular-cutsapphires, accented with a total of 8.80 carats of diamonds, went for $75,000,within its valuation of $60,000 to $90,000. The total included an Important Watches auction the following day. A Rolex Submariner Ref. 5512 with square crown guards wentfor $93,750. That piece is one of fewer than 100 believed to exist,with only 30 pieces known to the market, Fortuna said. Its original estimatewas $100,000 to $150,000. Image: The 3.05-carat fancy-intense-blue diamond ring. (Fortuna)