Pink Diamond Expected to Fetch Up to $15 Million Fails to Sell at Christie's Auction

A Fancy Vivid Purple-Pink Cushion-Cut Diamond Ring, of 10.09 carats. Estimate $12,000,000 – 15,000,000. Unsold. Photo: Christie's Images Ltd 2011.

NEW YORK, NY (REUTERS).- A more than 10 carat purplish-pink diamond expected to fetch up to $15 million failed to sell at Christie's Magnificent Jewels auction on Tuesday which took in a total of $31.8 million.

"We were disappointed that the 10-carat purple-pink diamond did not find a buyer, (but) top-quality white, blue, pink and yellow diamonds fared very well," said Christie's head of jewellery in New York, Radul Kadakia.

He added that a Fancy Vivid blue diamond sold for $3.67 million, or more than $1 million per carat which exceeded it high estimate.

Five jewels topped the $1 million mark. Christie's said the sale saw heavy competition among both trade buyers and private collectors for colourless diamonds, large gemstones and signed jewels.

But the 10.09 carat Fancy Vivid cushion-cut was expected to be the sale's highlight, with prices for large pink diamonds, the most expensive coloured diamonds on the market, having skyrocketed in recent years. Fewer than 10 percent of all pink diamonds mined weigh more than .20 carats.

They get their colour through a rare, naturally occurring slippage of the crystallographic lattice in the stone while it is forming deep within the Earth's crust.

It failed to sell when two clients bid, but failed to reach the reserve -- an undisclosed minimum amount at which the owner is willing to sell.

Kadakia said Christie's had already received inquiries regarding a private after-sale of the stone.

"The transaction is still alive, and though the diamond did not sell in the room last night, perhaps we'll see something take place in the coming days," Kadakia said.

He noted that while many clients appreciated the rare colour and size of the purple-pink diamond, the decision to spend upwards of $10 million is not always a quick one.

The total sold at the auction comprised roughly 75 percent of the offerings.

Other strong prices included the top-priced gem, a cut-cornered rectangular cut diamond which fetched $4.4 million, in the middle of its estimated range, and a rectangular-cut Fancy Intense Pink 6.61 carat diamond, which sold for more than $3.5 million.

A 10-carat Art Deco sapphire ring also did well, fetching $746,500, or about three times the pre-sale estimate. © Thomson Reuters 2011. All rights reserved.

Ten best results:

A cut-cornered rectangular-cut D IF diamond of 37.16 carats. Photo: Christie's Images Ltd 2011.

Set with a cut-cornered rectangular-cut diamond, weighing approximately 37.16 carats, flanked on either side by three graduated baguette-cut diamonds, mounted in platinum. Estimate$4,200,000 - $4,800,000 . Price Realized 4,450,500 ($120,000 per ct) to a Private

With report 12260460 dated 28 January 2011 from the Gemological Institute of America stating that the diamond is D color, internally flawless clarity

Accompanied by a supplemental letter stating that the diamond has been determined to be a Type IIa diamond. Type IIa diamonds are the most chemically pure type of diamond and often have exceptional optical transparency. Type IIa diamonds were first identified as originating from India (particularly from the Golconda region) but have since been recovered in all major diamond-producing regions of the world. Among famous gem diamonds, the 530.20 carat Cullinan and the 105.60 carat Koh-i-noor, are examples of Type IIa

Property of a Gentleman.

A square emerald-cut Fancy Vivid Blue IF diamond of 3.25 carats. Photo: Christie's Images Ltd 2011.

Set with a square emerald-cut fancy vivid blue diamond, weighing approximately 3.25 carats, flanked on either side by a half moon diamond, mounted in platinum. Estimate $2,000,000 - $3,000,000. Price Realized $3,666,500 ($1.1 million per ct) to Aleks Paul of Essex Global Trading

With report 12625281 dated 24 June 2003 from the Gemological Institute of America stating that the diamond is fancy vivid blue, natural color, internally flawless clarity

Property of a Private Collector

A rectangular-cut Fancy Intense Pink diamond of 6.61 carats, VS2 clarity. Photo: Christie's Images Ltd 2011.

 Set with a rectangular-cut fancy intense pink diamond, weighing approximately 6.61 carats, flanked on either side by a tapered baguette-cut diamond, mounted in platinum. Estimate $3,300,000 - $3,800,000. Price Realised $3,554,500 ($540,000 per ct) to an US Trade.

With report 12820515 dated 9 September 2003 from the Gemological Institute of America stating that the diamond is fancy intense pink, natural color, VS2 clarity

 A modified cushion-cut Fancy Vivid Yellow VS1 diamond ring of 50.29 carats, by Carvin French. Photo: Christie's Images Ltd 2011.

Set with a modified cushion-cut fancy vivid yellow diamond, weighing approximately 50.29 carats, flanked on either side by a rectangular-cut diamond, weighing approximately 2.00 and 1.93 carats, mounted in platinum. Estimate $2,000,000 - $3,000,000. Price Realised $2,546,500 ($51,000 per ct) to an European Private

With maker's mark for Carvin French
With report 2125160846 dated 20 May 2010 from the Gemological Institute of America stating that the diamond is fancy vivid yellow, natural color, VS1 clarity

With reports 14799173 and 16142795 dated 23 April and 26 February 2008 from the Gemological Institute of America stating that the rectangular-cut diamonds, weighing approximately 2.00 and 1.93 carats, are D and E color respectively, VS2 clarity

A pear-shaped D color, VS1 diamond ring of 16.41 carats, by Van Cleef & Arpels. Photo: Christie's Images Ltd 2011.

Set with a pear-shaped diamond, weighing approximately 16.41 carats, flanked on either side by a tapered baguette-cut diamond, mounted in platinum, 1959, with French assay mark and maker's mark. Estimate$800,000 - $1,200,000. Price Realised $1,082,500 ($66,000 per ct) to an Asian Private

Signed Van Cleef & Arpels (partially indistinct), no. 5.945 CS (Commande Spéciale)
With report 5121957904 dated 7 January 2011 from the Gemological Institute of America stating that the diamond is D color, VS1 clarity

Property of a Lady.

A rectangular-cut D color, VVS2 diamond ring of  9.68 carats, by Harry Winston. Photo: Christie's Images Ltd 2011.

Set with a rectangular-cut diamond, weighing approximately 9.68 carats, flanked on either side by a trapeze-cut diamond, mounted in platinum, with French assay mark. Estimate $700,000 - $1,000,000. Price Realised $962,500 ($100,000 per ct) to an US Trade

With maker's mark for Harry Winston
With report 5131102433 dated 15 February 2011 from the Gemological Institute of America stating that the diamond is D color, VVS2 clarity, with excellent polish and excellent symmetry; accompanied by a working diagram indicating that the clarity of the diamond may be potentially internally flawless

Property of a Lady

An Art Deco Kashmir sapphire ring of 10.06 carats, by Tiffany & Co., circa 1920. Photo: Christie's Images Ltd 2011.

Set with an octagonal-cut sapphire, weighing approximately 10.06 carats, the shoulders decorated with French, baguette and circular-cut diamonds, mounted in platinum, circa 1920. Estimate $200,000 - $300,000. Price Realised $746,500 ($74,000 per ct) to an US Trade

Signed Tiffany & Co.
With report 0802107 dated 14 February 2008 from the Gübelin Gem Lab stating that gemmological testing revealed characteristics consistent with those of sapphires originating from Kashmir. No indications of heating

With report 91022511 dated 31 January 2008 from the AGTA Gemological Testing Center stating that the data obtained during the examination of this sapphire indicates that the probable geographic origin is Kashmir. No indications of heating

With report 16426258 dated 7 November 2007 from the Gemological Institute of America stating it is an expert opinion that the geographical origin of the sapphire is Kashmir. No indications of heating

Property of a Lady

A cushion-cut Burmese sapphire and diamond ring, of 40.66 carats. Photo: Christie's Images Ltd 2011.

Set with a cushion-cut sapphire, weighing approximately 40.66 carats, the prongs, gallery and shoulders set with circular-cut diamonds, mounted in platinum. Estimate $450,000 - $550,000. Price Realised $542,500 ($13,000 per ct) to an European Private

With report 1008507 dated 24 August 2010 from Gübelin Gem Lab stating that gemmological testing revealed characteristics consistent with those of sapphires originating from Burma (Myanmar). No indications of heating

With report CS 42482 dated 28 June 2010 from the American Gemological Laboratories stating that it is the opinion of the Laboratory that the origin of this sapphire would be classified as Burma (Myanmar). Heat Enhancement: None. Accompanied by an additional letter from AGL attesting to the rarity and desirability of this sapphire

With report 1106766580 dated 22 June 2010 from the Gemological Institute of America stating that it is an expert opinion that the geographic origin of this sapphire is Burma (Myanmar). No indications of heating

A diamond line bracelet of twenty-five graduated square-cut diamonds. Photo: Christie's Images Ltd 2011.

Composed of twenty-five slightly graduated square-cut diamonds, weighing from approximately 2.28 to 2.00 carats, mounted in platinum, 7 ins. Estimate $300,000 - $500,000. Price Realised $530,500 to an US Trade

With twenty-five reports dated from 22 August 2007 to 20 July 2005 from the Gemological Institute of America stating that the diamonds range from D to F color, and from VVS1 to VS2 clarity

Property of a Gentleman

A cut-cornered modified rectangular-cut Fancy Intense Yellow VS2 diamond of 24.03 carats. Photo: Christie's Images Ltd 2011.

Set with a cut-cornered modified rectangular-cut fancy intense yellow diamond, weighing approximately 24.03 carats, flanked on either side by a keystone-cut diamond, mounted in 18k gold and platinum. Estimate $350,000 - $450,000. Price Realised $530,500 to an EuropeanTrade

With report 1122720080 dated 20 October 2010 from the Gemological Institute of America stating that the diamond is fancy intense yellow, natural color, VS2 clarity

Christie's. New York Magnificent Jewels. 12 April 2011, New York, Rockefeller Plaza www.christies.com