in The Business of Jewelry on April 22, 2015
Sotheby’s New York had quite the day of celebrating yesterday after a very successful Magnificent Jewels sale that brought in $65 million, a new record total for the New York office. Nearly 80% sold by lot and 84.4% sold by value, the sale saw a total of 10 lots achieve prices over a million dollars.
Remember that “perfect” 100 carat diamond? It sold for $22,090,00, ($220,459 per carat) including the buyer’s premium.
“This 100.20-carat diamond is the definition of perfection. The color is whiter than white. It is free of any internal imperfections,” Sotheby’s New York jewelry department head Gary Schuler said in a statement prior to the sale, likening its transparency “to a pool of icy water.”
The presale estimate had been between $19 million and $25 million. The diamond was mined in southern Africa within the last 10 years and weighed over 200 carats before it was cut and polished, the auction house said.
Both the seller and the buyer wished to remain anonymous. The winning bid came in over the phone.
Only five “perfect” diamonds over 100 carats have sold at auction in the last 25 years, with a 118-carat oval-cut stone fetching $30.6 million at Sotheby’s in 2013. It set a record for a white diamond. The record for any jewel is $46 million for a 24.78-carat emerald-cut pink diamond, set at Sotheby’s in 2010.