Colored Diamonds Lead $60M Sotheby's Sale

RAPAPORT... Sotheby's garnered $59.9 million at its Geneva auction lastweek as a 21.19-carat pink diamond smashed its estimate with a final price of $7.4million. The cushion-shaped, fancy-light-pink, VVS2-clarity, type IIadiamond fetched $347,601 per carat, Sotheby's reported following the Thursdaysale. It had a presale valuation of $4.5 million to $6.5 million. The Magnificent Jewels & Noble Jewels auction alsofeatured a brilliant-cut, 2.02-carat, fancy-intense-blue, internally flawlessdiamond that went for $3.4 million ($1.7 million per carat), beating itsestimate of $2 million to $3 million. Meanwhile, a step-cut, 25.77-carat, D-color, VVS1-claritydiamond ring signed by Italian jeweler Pederzani sold for $3.1 million($118,584 per carat), within the range of $3 million to $3.9 million thatSotheby's had expected. The stone, featuring baguette diamonds on its flanks,"may be internally flawless after minor repolishing," the auction house cited aGemological Institute of America report as saying. The auction capped off a record-breaking week at Sotheby'sGeneva. It brought in $53.1 million at a sale of jewels from the Royal BourbonParma family on Wednesday, the highest-value auction of royal jewels inhistory, the company said. That sale included a natural pearl and diamondpendant once belonging to Marie Antoinette, which went for $36.2 million,well above its estimate of $1 million to $2 million.Image: A 21.19 carat, fancy-light-pink diamond ring that sold for $7.4 million. (Sotheby's)