Pink and Blue Diamonds Set Price Records at 2017 Auctions

The GIA reports that more than “$1.1 billion worth of extreme top-end diamonds, colored gems and jewelry were sold at auction by the world’s most renowned houses in 2017.”  However while sales at Christie’s and Sotheby’s were strong, in the second half of the year a number of important high-end diamonds went unsold as buyers appeared to be selective.   

The year’s trend showed strong interested in specialty diamonds such as the April sale of the Pink Star diamond at Sotheby’s Hong Kong location.  The Pink Star set a world record for the highest priced gemstone to be sold yet at auction.  The stone, a 59.60 carat Fancy Vivid pink Internally Flawless diamond, was the “largest diamond of those grades ever graded by GIA.”   The winning bid was a whopping $7.2 million by Chow Tai Fook, a large Hong Kong based retail jewelry chain.  The Pink Star was sold at auction for $83 million two years earlier but the buyer was unable to come up with the money.   

At the end of the year, an anonymous buyer bought a 5.69 carat GIA graded Fancy Vivid blue diamond at Sotheby’s.  The emerald-cut blue diamond sold for $15.1 million and is graded by the GIA as Natural Color, VVS1 clarity and be potentially Internally Flawless.   

Another important diamond sold a couple of times over the last several years includes the 24.78 carat Graff Pink.  In November 2010, it was sold at Sotheby’s for $46.2 million, which made it the most expensive pink diamond ever to sell at auction.  The stone is described as an “intense pink round-cornered rectangular step-cut diamond, set between shield-shaped diamond shoulders, and in platinum.”  In November of 2013, the Pink Graf set another record with a sale price of $83 million.  

While Padis Jewelry is not selling anything close to an $83 million diamond, nonetheless we have a stunning inventory of over 10,000 loose diamonds and gemstones at any one time.  We encourage you to visit our website to set up an appointment to one of our three San Francisco showrooms or visit our Padis Romance store in St. Helena.   

Padis Jewelry, a family-owned business, has been a trusted source for buying exquisite certified loose diamonds, engagement rings and fine jewelry since 1974.  We are one of the only jewelers in the area that offers such an exclusive selection of top names in the industry as well as such a large inventory.  For an opportunity to view our most impressive collections, please contact us to schedule at visit.

Source:gia.edu/gia-news-research-2017-auction-roundup-pink-blue-fancy-colored-diamonds-still-rule