Twin-Stone Ring Fetches $9M at Christie's

RAPAPORT... A twin-stone diamond ring sold for $9.3 million at Christie's Geneva Magnificent Jewels sale after "spirited bidding" from several participants competing via telephone, the auction house reported.The piece, created by designer Reza, features a pear modified brilliant-cut, 5.34 carat, fancy-vivid-blue, internally flawless diamond, and a pear brilliant-cut, 5.37-carat, D-color, internally flawless stone. It went for just above its low estimate at the July 22 sale, with the white diamond accounting for around $200,000 of the sale price, Christie's said Wednesday. Based on that, the price of the blue diamond was approximately $1.7 million per carat, the auction house estimated. The entire auction garnered $42.5 million, with 80% of items on offer finding buyers.Another high earner was a shield mixed-cut, D-color, internally flawless diamond weighing 100.85 carats, which brought in $5.9 million, or $58,959 per carat. The stone, purchased by Moussaieff, smashed its CHF 4.5 million ($4.9 million) high estimate.Other notable items included a pear brilliant-cut, 104.04-carat, fancy-intense-yellow, internally flawless diamond. That item sold for $24,604 per carat, or $2.6 million, just under its low estimate. A colored diamond and white diamond bracelet by Cartier fetched $2.6 million at the auction, just missing its high valuation. Meanwhile, a necklace set with a pear brilliant-cut, 49.81-carat, D-color, VVS1-clarity diamond fell within its estimate, bringing in $2.3 million, or $46,285 per carat."[The sale] in Geneva took place under extraordinary circumstances, with social distancing," said Fran??ois Curiel, chairman of Christie's Europe. "Nevertheless, collectors showed great resilience and confidence as they bid and bought all week long."Christie's will hold its New York Magnificent Jewels sale on July 29, followed by its Important Jewels sale in London on July 30.Image: The blue diamond and white diamond ring. (Christie's)