Bubble Gum Pink Rakes In $2.2M/ct. at Christie's

RAPAPORT... A pink diamond ring named for its resemblance to bubble gumfetched $7.5 million at Christie's Hong Kong auction. The rare cushion modified brilliant-cut, 3.43-carat,fancy-vivid-purplish-pink, internally flawless diamond sold for $2.2 million per carat. The ring, designed by Moussaieff, features pear-shaped pink diamondsand marquise-cut white diamonds surrounding the center stone. It had been estimated at$6 million to $8 million. The piece was the top-selling lot at the Magnificent Jewelssale, which garnered a combined $44.6 million. Other notable pieces include a pair of Grand Muzos earrings,set with two Colombian emeralds weighing 23.34 carats and 23.18 carats, as well as white diamonds and pearls. The lot sold for $4.5 million, within its $4 millionto $6.5 million valuation. A jadeite cabochon ring and a pair of jadeitecabochon earrings both doubled their low estimates after "spirited" bidding,Christie's noted. The pieces sold for $1.2 million each, against presaleestimates of $580,000 to $800,000. Meanwhile, the second-highest lot, a cut-cornered rectangular step-cut, 3.01-carat,fancy-vivid-blue diamond ring with two heart brilliant-cut,fancy-intense-purple-pink diamonds on either side, was withdrawn from the sale. The piece wasvalued at $4.7 million to $7 million. A cushion-shaped, 26.41-carat Kashmirsapphire brooch, surrounded by old-cut diamonds, which carried an estimate of$4 million to $6.5 million, failed to find a buyer. Christie's next jewelry auction is the Maharajas &Mughal Magnificence sale in New York on June 19. Image: The Bubble Gum Pink diamond ring. (Christie's)