Diamond fetches record $21.5-M at Christie’s Swiss auction
Diamond fetches record $21.5-M at Christie’s Swiss auction
BID
A colorless 76.02-carat Diamond sold last night in Switzerland for 20.4-M Swiss francs (US$21.5-M) with fees, setting a record auction price per carat.
Known as the Archduke Joseph Diamond, the internally flawless stone was the most highly valued lot in a jewelry auction held by Christie’s International at the Four Seasons Hotel des Bergues, Geneva.
The gem was bought by telephone bidder against an estimate of $15 to 25-M, based on hammer prices.
Using Christie’s exchange-rate figures this gives a price of $282,545 per carat, a record for a colorless stone, beating the $276,600 set for the Beau Sancy Diamond at Sotheby’s NYSE: BID, Geneva, in May.
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The Archduke Joseph was originally sourced from the Golconda mines in India, which produced the 105.6-carat Koh-i- Noor of the UK Crown Jewels. The stone was the largest perfect Golconda Diamond to have appeared at auction.
On observer said, The best diamonds have become extraordinarily valuable, there is a sense at the moment that money is like sand running through fingers and there’s a scramble to buy jewels as a hedge.
The gem was named after Archduke Joseph August of Austria 1872-1962, a member of the royal House of Habsburg, whose family owned the stone until the 1930s. It was last seen at auction in November 1993, when it sold for 9.7-M Swiss francs.
The identity of the seller has not been told by Christie’s.
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