Pink Diamond Hammers for $50-M+ a World Record

Pink Diamond Hammers for $50-M+ a World Record

Pink Diamond Hammers for $50-M+ a World Record

$BID

Christie’s Geneva sold the “Pink Legacy” diamond at auction Tuesday for more than $50-M including fees, saying it is a new world record price per carat for a pink diamond.

Christie’s said that renowned jeweler Harry Winston was the buyer.

The auction house had expected to fetch $30-M to $50-M for the nearly 19-carat, rectangular-cut stone, the largest fancy vivid pink diamond that it has ever put under the Hammer.

It was the standout offering at Christie’s fall jewelry auction in Geneva.

The standing-room only ballroom broke into applause after the auctioneer struck down a Hammer price of $44.5-M. That excludes the standard “buyer’s premium” and other applicable fees, all told, the diamond went for $50.375-M.

Rahul Kadakia, Christie’s head of international jewelry, said that auction house has only sold 4 diamonds weighing more than 10 carats of the same color in its 251 years of history.

Christie’s sale kicks off 2 days of jewelry auctions in Geneva.

On Wednesday, Sotheby’s (NYSE:BID) will auction jewelry once owned by French Queen Marie Antoinette that has not been seen in public for 200 years.

Jewelry that belonged to Marie Antoinette, wife of King Louis XVI and arguably France’s most famous queen, is headed to the auction block at Sotheby’s in Geneva, Switzerland on Wednesday, 14 November.

The auction, “Royal Jewels From the Bourbon-Parma Family,” will feature jewelry spanning centuries of European history, from the 18th century reign of Louis XVI to the fall of the Austro-Hungarian Empire a century ago. The Bourbon-Parma family is blood-related to influential European dynasties, from the Habsburgs to the Parmas, a lineage which has included kings of France and Spain and Austrian emperors.

The full collection offered by Sotheby’s has never been seen in public, and many of the 100-plus elaborate gem and jewel pieces up for sale, including natural pearl necklaces and monogram gemstone rings, have not been viewed in public for some 200 years.

Other distinctive pieces in the collection include a sapphire, ruby, and diamond brooch and a ring depicting the iconic queen’s face, surrounded by circular-cut diamonds

Symbol Last Trade Date Change Open High Low Volume
NYSE:BID 39.39 13 November 2018 -0.71 40.34 40.61 39.34 415,100
HeffX-LTN Analysis for BID: Overall Short Intermediate Long
Bearish (-0.46) Bearish (-0.44) Bearish (-0.48) Bearish (-0.47)

Stay tuned…

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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