Why Rare Colored Diamonds Dominated at This Month’s Jewelry Auctions
Watch auctions are divided into two categories: Patek Philippe and Rolex, which represent the bulk of the value; and everything else. Likewise, jewelry auctions fall into two camps: colored, large, or flawless diamonds and gems; and everything else, including the often more interesting pieces signed by the likes of Cartier, Bulgari, Harry Winston, and Van Cleef & Arpels, and pieces with interesting provenance. Diamonds and gemstones are important from an investment point of view, but the “rest” is often more about beauty and personal taste. There was plenty of evidence of this in the jewelry sales held in Geneva and New York this fall by Sotheby’s, Christie’s, and Phillips. Blue, pink, and yellow diamonds were the kings of the auction season, proving that rare diamonds continue to be go-to investments.
In Geneva, sales at the three auction houses totaled $145,934,377, including $77,703,074 at Christie’s Magnificent Jewels; $46,531,921 at Sotheby’s Magnificent and Noble Jewels; and $21,699,382 at Phillips inaugural Geneva Jewels Watch Auction: One. At the Christie’s sale, the “important” diamonds and gemstones represented more than half the value of all lots combined.
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Top Lots at Christie’s Magnificent Jewels Sale
The top three lots in this sale were all gemstones, including a fancy blue diamond, a fancy pink diamond, and a Burmese ruby, totaling nearly $52,000, the bulk of the total $77,703,074 sale.
1. Lot 87. The Bleu Royal, a 17.61 carat internally flawless fancy vivid blue diamond, selling for $44,009,645. It represents the most expensive jewel sold at auction in 2023.
2. Lot 78. An 8.77-carat, rectangular, modified brilliant-cut, fancy intense pink diamond selling for $5,172,429.
3. Lot 52. A ring attributed to Harry Winston containing a Burmese cushion-shaped ruby weighing 21.88 carats, selling for $2,611,280.
Notable signed pieces:
There were several Cartier lots among the signed pieces, including an iconic Panthère brooch with diamonds, sapphire and coral, selling for CHF 226,800 (about $252,000), and a rare Crash watch in 18-karat rose gold with a diamond bezel, selling for CHF 138,600 (about $154,000).
Top Lots at Phillips Geneva Jewelry Auction: One
The top three lots in Phillips’ $21,699,382 inaugural Geneva jewelry sale were diamonds, one of which was the fourth-largest fancy pink diamond ever sold at auction.
1. Lot 110. Fancy intense pink diamond weighing 20.19 carats, selling for $13,276,830.
2. Lot 107. A 54.27-carat intense yellow diamond ring, selling for $1,484,439.
3. Lot 109. A ring set with a 15.60-carat diamond, accented with baguette diamonds, made by Fred, selling for $991,857.
Notable signed pieces:
A yellow sapphire and diamond Ballerina brooch made by Van Cleef & Arpels, sold for $226,710.
Top Lots at Sotheby’s Magnificent and Noble Jewels
In a sale that totaled $46,531,921, the top seven pieces were fancy, large, or flawless diamonds, with a combined value of just under $14 million, which gives you an idea of where the bulk of the value lies in these sales.
1. Lot 604. “The Love Stone,” a 103.62-carat fancy intense yellow diamond ring, with a cushion cut and a claw setting, selling for $2,488,880.
2. Lot 652. A 20.52-carat Internally D Color Flawless diamond ring, selling for $1,950,623.
3. Lot 640. A 7.58-carat Burmese ruby and diamond ring by Graff, selling for $1,816,059
Notable signed pieces:
Among the signed pieces were several exquisite, invisibly set jewels by Van Cleef & Arpels, along with Cartier, Harry Winston, and Moussaieff. Incidentally, Sotheby’s jewelry auctions are perfect grazing grounds for often-overlooked ladies’ watches. This sale included some Bulgari pieces, including a gold and diamond Serpenti, that sold for CHF 27,940 (about $30,000); and several Cartier watches, including a diamond jewelry watch with a lemur sculpture (a departure from the typical panther) for CHF 69,850 (about $78,000).
New York Jewelry Auctions
Sales at Christie’s Magnificent Jewels totaled 38,135,080, and Sotheby’s Magnificent Jewels reached 38,430,400, for a combined total of $76,565,480. (There was no New York live jewelry sale by Phillips.)
Christie’s Top Lots
1. Lot 99: $5,495,000 for a fancy vivid blue cushion-cut internally flawless diamond ring of 3.49 carats.
2. Lot 149: $3,014,500 for an emerald-cut Kashmir sapphire ring of 23 carats mounted by Cartier.
3. Lot 23: $1,925,500 for a cushion-cut Kashmir royal blue sapphire ring of 8.91 carats by Tiffany & Co.
Notable signed pieces
A Van Cleef & Arpels multi-gem and diamond bracelet from the collection of San Francisco socialites Adolphus Andrews, Jr. and Emily Taylor Andrews, (lot 10) sold for $138,600 against a low estimate of $50,000, and Seaman Schepps Art Deco rock crystal, multi-gem and diamond bracelet (lot 22) from the estate of socialite Mary Lloyd Robb sold for $144,900 against a low estimate of $40,000.
Sotheby’s Top Lots
1. Lot 60: $5,507,700 for a Cushion modified brilliant-cut Fancy Vivid Yellow diamond, weighing 133.03 carats, Natural color, VS2 clarity ($41,402 per carat).
2. Lot 78: $4,416,000 for a Diamond Necklace, featuring a pair of pear-shaped diamonds weighing 28.45 and 28.21 carats, suspended from two rows of similarly cut diamonds weighing a total of 120.20 carats.
3. Lot 109: $2,359,000 for a Leviev diamond necklace set with 30 carats of diamonds cut in various shapes, totaling 123.27 carats.
Notable signed pieces
Glamorous provenance played a role in this sale, with pieces from the collections of Mary Tyler Moore, Barbara Sinatra, Tony Randall, and Red Skelton. Many were also signed by important makers, including Bulgari, Jean Schlumberger, and Harry Winston, which makes them double-signed in a way, if you include both maker and celebrity owner.
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