Twin-Stone Ring Fetches $7M at Christie's

RAPAPORT... Christie's New York Magnificent Jewels auction garnered $30.3 million on Tuesday, with a twin-stone ring leading the sale. The piece, bearing two pear modified brilliant-cut,fancy-vivid-blue, VS2-clarity diamonds weighing 3.06 and 2.61 carats, fetched$6.7 million, or $1.2 million per carat. Its presale estimate was $6 million to $8 million. Christie's sold six additional lots for more than $1 millioneach, among them a rectangular-cut, 16.33-carat, D-color, VVS1-clarity, typeIIa diamond ring with the potential to be internally flawless. The jewel soldfor $1.6 million, achieving $96,500 per carat. Its presale valuation was $1.2million to $2.2 million. A marquise-cut, D-color, VVS2-clarity, type IIa diamond ringweighing 16.69 carats fetched $1.5 million. The piece, from the collection ofElizabeth Stafford, duchess of Norfolk, had an estimate of $1.2 million to $1.8 million. Other notable lots included an oval-cut, 6.11-carat,fancy-pink diamond ring, which fetched $230,000 per carat. It achieved a totalprice of $1.4 million, falling within its estimate of $1.2 million to $1.5million. Christie's sold 86% of the lotsoffered at the auction. Image: The twin-stone ring. (Christie's)