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The 10.48-ct., flawless, fancy deep blue briolette diamond, which sold at Sotheby's in Geneva for $10.9 million. (Photo Credit: Sotheby's)



  Flawless fancy deep blue briolette diamond sells in Geneva for $10.9 million


December 14, 2012


Sotheby's Magnificent Jewels sale in Geneva set the tone for what would become a spectacular end-of-the-year selling auction season with highest-ever prices being paid for fancy colored diamonds.

This time round the top lot was a rare 10.48-ct., flawless, fancy deep blue briolette diamond. According to Sotheby's, the diamond was flawless and had been awarded by highest possible grades for polish and symmetry by the Gemological Institute of America. It's pre-sale estimate was $3.5 million-$4.5 million.

The briolette diamond sold to British jeweler Laurence Graff for $10,860,146, or $1.04 million per carat. Sotheby's reported that it was a new record for both a ‎deep blue diamond and for a briolette diamond‎ sold at auction. Graff would break records again in New York several weeks later, when at a Christie's auction he paid $2.09 million, or $666,200 per carat, for a reddish-orange diamond of 3.15 cts.

The second top lot at the Sotheby's sale in Geneva was a pair of cushion-shaped, 11.46-ct. and 11.64-ct. Burmese rubies ‎pendent ear clips, circa 1921. They sold to a private Asian buyer for $3.52 million, or ‎‎$152,396 per ct.

‎"This was truly one of the finest offerings of colored stones in 20 years. The quality of ‎sapphires, rubies and emeralds was simply outstanding and this was reflected in the prices ‎realized," said David Bennett, the chairman of Sotheby's jewelry department in Europe and the ‎Middle East. "Exceptional diamonds and jewels, such as the record breaking fancy deep blue ‎diamond and the pair of noble ruby earrings, attracted intense bidding from several ‎continents."‎

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