Sunday, May 19, 2024
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“Yellow Diamond Fetches Record $6.7 Million at Christie’s Geneva Jewelry Sale”

Geneva’s recent jewelry auction at Christie’s witnessed a dazzling spectacle as a 202.18-carat yellow diamond stole the show, fetching a staggering $6.7 million. The exceptional stone, dubbed the “Yellow Rose,” set a new record at the esteemed auction house, securing the second-highest price ever recorded for a gem of its color and size.

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Originating from South Africa, this unmounted pear modified brilliant-cut jewel boasts a fancy-intense-yellow hue with SI1 clarity, marking only the third such stone over 200 carats to grace the auction floor. Its remarkable sale propelled the May 15 Magnificent Jewels auction to a remarkable total of $54.2 million, with an impressive 97% of items finding eager buyers, as disclosed by Christie’s on Wednesday.

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Max Fawcett, head of jewels for Christie’s in Europe, expressed delight at the overwhelming success of the auction, stating, “There is nothing better as an auctioneer than a full and engaged saleroom, and to achieve such strong results…is remarkable.” He noted the fervent demand in the market for colored gemstones and signed jewelry, heralding an auspicious start to the 2024 season.

Beyond the Yellow Rose’s triumph, other standout pieces captivated bidders’ attention. A 25.20-carat pink sapphire exceeded expectations, fetching $1.5 million—tripling its presale estimate. Noteworthy sales also included an 11.03-carat Kashmir sapphire and diamond ring, which realized $1.4 million, and a cushion-shaped, 5.03-carat Burmese ruby ring, adorned with old-cut diamonds, selling for the same amount, surpassing its high estimate of $1.1 million.

Additional highlights featured a Tiffany & Co. Hedges and Rows necklace by Jean Schlumberger, commanding $1.4 million—more than three times its upper estimate. Similarly, a turquoise and diamond Liberté jewelry set from Van Cleef & Arpels, comprising a necklace, earrings, and a headpiece, fetched $860,101, more than doubling its high estimate, further underscoring the fervor surrounding exceptional jewels in the current market.

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