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      Gemewizard archive daily article




Figure 1


Figure 2: Summary of 2012 Fancy Colored Diamonds auction sales

  Auctions hammer colored diamond price records in 2012

by Guy Borenstein, FGA EGG
December 13, 2012


Records for prices paid for colored diamonds at auction are being pulverized at breakneck speed. Following the $2,1 million or 666,200 per carat paid for a reddish-Orange diamond at Christie's in New York last week, we decided this issue to set aside our regular monitoring of the market trends aside for this issue and instead sum up the colored diamond auction highlights of 2012. And what a fascinating year it has been!

Yellow colored diamonds were the unquestioned draw of the auction year, with several large-sized stones going on the block over the course of 2012. In April, two New York-based auction houses sold noteworthy yellow diamonds - a 23.02 ct. Fancy Vivid Yellow diamond was sold at Sotheby's for $1.87million (or $81.4 K per carat) and a 23.79 ct. Fancy Intense Yellow with Internally Flawless clarity got a hammer price at Phillips of $1.2 million (or $50.5 K per carat). Very recently, Laurence Graff, the famous jeweler, purchased a larger stone weighing 52.72 cts. at Sotheby's December auction in New York for $3.9 million ($73.7 K per carat).

Pink diamonds continued to spur excitement and achieved staggering prices. At the Sotheby's December in New York, Graff also purchased a 6.54-ct. Fancy Intense Pink diamond, clarity-graded Internally Flawless, for $8.6 million ($1.31million per carat).

Earlier in the year year, another large pink stone seized the headlines. During Christie's Hong Kong auction in May, a 12.04 ct. Fancy Intense Pink diamond with a VS1 clarity grade, was sold for $17.48 million ($1.45 million per carat).

It is worth mentioning that other colored diamonds with a pink moderator received better attention this year. Among them was a 26.96-ct. Fancy Pink-Brown that was sold at Sotheby's New York December auction for $1.42 million ($52.9K per carat).

However, with all due respect for all other colors, when it came to record prices this was the year of the blues. In April, Sotheby's Hong Kong and New York auctions were highlighted by two large blue diamonds. A 8.01-ct. Fancy Vivid Blue diamond was sold in Hong Kong for an outstanding record price of $12.7 million (or $1.59 million per carat!) and a 3.54-ct. Fancy Blue, Marquise cut, diamond, mounted in a Tiffany & Co. antique ring, was sold at New York for $2.43 million ($687 K per carat).

Sotheby's was the venue for another large blue diamond. A 10.48-ct. briolette cut, sold at the November auction in Geneva for $10.86M ($1.04 million per carat). The price is considered a record for this less popular cutting style.

The year 2012 has certainly been a good year for colored diamonds at the auctions. But, what does this tell us about 2013? Which color will be dominant next year and set new records?

Unfortunately, we do not know and there is no clear answer. But maybe a hint for a possible candidate can be found in the following sale. Lucara diamonds in Botswana sold a 9.46 blue-colored rough diamond in November for $4.5 million ($477K per carat). The rough has a potential for a fancy color grade and at least a VVS1 clarity grade. Will we see the resultant polished diamond in an auction of next year? Time will tell.

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