Big Diamonds to Lead Australia Jewelry Auction

RAPAPORT... A 21.13-carat diamond ring will lead Leonard Joel's upcoming Important Jewels auction, where it is expected to fetch up to AUD 900,000 ($620,362).The cut-cornered square modified brilliant-cut, K-color, SI2-clarity diamond ring is one of a number of large stones that will feature in the August 16 sale in Sydney, Australia. The auction could garner as much as AUD 8.6 million ($5.9 million) in total, Leonard Joel predicted last week.Leonard Joel will also offer a cushion modified brilliant-cut, 11.03-carat, I-color, VVS2-clarity diamond ring with a high estimate of AUD 700,000 ($482,504). Meanwhile, a ring bearing a cushion-shaped, 5.29-carat, pigeon's blood Burmese ruby will feature prominently at the sale. The jewel, which has a frame of 10 brilliant-cut diamonds weighing a total of 2.50 carats, has an upper presale price tag of AUD 900,000.Other notable items include a pair of ear studs with round brilliant-cut, J-color, SI2-clarity diamonds weighing 5.01 carats each. The set is estimated to bring in up to AUD 260,000 ($179,216). A cushion modified brilliant-cut, 7.01-carat, I-color, SI2-clarity diamond ring carries a presale price of up to AUD 240,000 ($165,430).Leonard Joel will preview the pieces in Melbourne and Sydney ahead of the auction, it noted. Last year, the company sold an emerald-cut, 20.05-carat, H-color, VVS2-clarity diamond ring for AUD 1.6 million ($1.2 million), making it the most expensive diamond ever sold at auction in Australia, the company added.Image: The 21.13-carat diamond ring. (Leonard Joel)