New York – Sotheby’s December sale of Magnificent Jewels tallied up an impressive $64,765,013, the highest-ever total for a day of jewelry sales at its New York location. This breaks the previous record of $53,327,840 set in December 2010.
This sale also profited from two great collections — The Collection of Estee Lauder and Evelyn H. Lauder, which was sold to benefit the Breast Cancer Research Foundation® and the Collection of Mrs. Charles Wrightsman. The jewels of Estee Lauder and her daughter-in-law Evelyn H. Lauder were an eclectic assortment of very fine diamonds and signed jewelry. The collection contributed $22,248,250 to the day’s final sale total, the net proceeds of which were donated to The Breast Cancer Research Foundation (BRCF) created by Evelyn H. Lauder in 1993.
The top lot of the day, was the 6.54 carat, internally flawless, fancy intense pink diamond ring by Oscar Heyman, it belonged to Evelyn H. Lauder and sold for $8,594,500, or $1,313,144 per carat. There was much competition for the ring, but in the end it was purchased by London-based jeweler Graff.
The Wrightsman Collection, which had its own catalog, was filled with unusual designer signed pieces including Suzanne Belperron, Verdura, Bulgari, Cartier and JAR. The Wrightsman collection accounted for $15,541,188 of the days total.
Many pieces in the Wrightsman Collection sold for shockingly high prices as bidders vied aggressively to own fine, unique jewelry that will never be made again. A world record price for a single natural gray pearl at auction was set for a natural gray pearl and diamond brooch, which sold for $1,874,500 to a buyer who wished to remain anonymous.
White diamonds followed the 10-carat rule: If the stone was over 10-carats it sold regardless of quality, anything under the 10-carat mark passed. Dealers noted that white diamond prices are high right now with little room for profit and larger diamonds sold due to their rarity and for investment purposed because psychologically people feel that these larger stones are protected from price fluctuations. –Amber Michelle
Christie’s December sale of Magnificent Jewels experienced a stellar finale to its fall auction season on December 10, with a 300-lot sale realizing a total of $32,541,625 with strong sell-through rates of 84 percent by lot.
The top lot was a 50.01-carat, D, potentially flawless, rectangular-cut diamond ring by Graff that sold to Laurence Graff for $8,370,500 or $167,400 per carat.
Graff said, “This is the third time that I have owned this beautiful diamond and I am as thrilled today as I was the first time. Diamonds of this exceptional caliber have a life and legacy that carries on beyond us all. This is one of the finest D-color diamonds in the world and I am delighted to have it back again.”
Christie’s also realized a new per-carat record for a Kashmir sapphire at auction, with the sale of a superb 8.91-carat sapphire for $1,370,500 or $154,000 per carat. The final lot of the season was an exceedingly rare fancy reddish-orange diamond of 3.15 carats, the largest reddish orange diamond ever graded at the Gemological Institute of America (GIA). Exhibiting two of the rarest hues in the world of diamonds, this rarity soared beyond its low estimate of $700,000 to sell for $2,098,500, setting a new world auction record for a reddish-orange diamond and a new per-carat record price of $666,200.
For the year in New York, Christie’s sold 29 jewels over the $1 million mark, of which four jewels achieved over $7 million.
Rahul Kadakia, the head of jewelry at Christie’s Americas and Switzerland, said, “A D color diamond of 50.01 carats last sold by Christie’s New York in 2005 and purchased by Laurence Graff for $4.2 million has once again been purchased by Mr. Graff for $8.4 million, demonstrating the increasing strength and stability of the global diamond market. Over $163 million of superb jewels sold under our gavel this year at Christie’s New York, with new and established collectors competing at the very highest levels.” –Christie’s New York
Geneva–Just one day after the “Archduke Joseph” diamond raised the bar for colorless diamonds at Christie’s, Geneva witnessed another record-setting sale. A 10.48-carat fancy deep blue briolette-shaped diamond sold for $10.9 million at Sotheby’s on Wednesday, setting two world auction records.
Selling for slightly more than $1 million per carat, the flawless diamond set the world auction record for price per carat for a fancy deep blue diamond and the world auction record for a briolette.
Purchase by famed diamantaire Laurence Graff, the lot shattered its pre-sale high estimate of $4.5 million.
Overall, the auction realized $81.1 million, bringing the Sotheby’s Geneva 2012 jewelry total to nearly $193 million. It sold 89 percent by lot and 94 percent by value.
On Oct. 16, a 50.52 ct. pear-shape D-color flawless diamond pendant sold for $9.5 million to a private collector at Christie’s New York Magnificent Jewels sale.
The overall sale took in $49.9 million.
Other highlights of the auction include a two-strand natural pearl necklace, which sold for $3.7 million, and a pair of 103 ct. t.w. pear-shape fancy yellow and colorless diamond ear pendants, which earned $4.7 million.
“Private collectors and dealers reacted more than positively to a 369-lot auction that was finely-tuned in terms of prices and selection of gems to current market conditions,” said Rahul Kadakia, head of jewelry, Christie’s Americas and Switzerland, in a statement. “Natural pearls, colorless flawless diamonds, and colored diamonds of high quality once again dominated the day, making for a vibrant atmosphere in the saleroom.”
Arkansas State Park Luring Diamond Hunters
After being laid off from his job in the automotive industry, David Anderson didn’t bother searching for work. Instead, he went hunting for treasure — but not just any kind of treasure. Anderson went searching for diamonds.
“First time I came down here was in 2007, and on my third day here I found a carat and a half,” Anderson said. “That kind of hooked me. It was a pretty good one too.”
Anderson is not alone.
He is among many others who have taken up diamond hunting as a full-time career, and it might surprise most people where these treasure seekers are digging.
They aren’t searching in Africa or Canada, but in southeast Arkansas at Crater of Diamonds State Park.
The park sits on top of a volcanic crater and has had 30,000 diamond finds since its opening in 1972.
“It is the only place in the world, as far as we know, that the average person can come out and search for diamonds and keep whatever they find,” park employee Waymon Cox tells CNBC. “On average, visitors usually find something close to a quarter of a carat. The largest diamond found here was over 40 carats, about the size of a gumball.”
For a $7 fee, visitors to the park not only dig for their own diamonds, but can keep whatever they find under the park’s motto, “Finders keepers.”
More than 10 diamonds were found in July 2012, the largest being a brown diamond a little over a half-carat in weight, discovered by a visitor from Texas.
In 2011 alone, 560 diamonds were found, totaling 149.77 carats, according to the park’s website.
That was more than enough to convince Glenn Worthington, another diamond hunter, who visited Crater of Diamonds State Park after hearing about it from a friend.
Worthington tells CNBC that he has foundmore than 200 diamonds since moving to the park after leaving his previous career.
“I was working construction in Kansas,” he said. “So I quit my job, lived in a tent for seven weeks and found 10 diamonds, and I got hooked.”
Worthington said his largest find was a 2.13-carat brown diamond worth $9,800.
And he believes that the finds are only going to get bigger.
“The largest diamond in the United States was found right here, 40.25 carats,” he said. Now that’s huge, but I believe there is a diamond up to 200 carats here, and I know someone’s going to find that 200-carat diamond some day, and it might as well be me.”
© 2012 CNBC.com
Sell Your Diamond Comfortably
Just as they did with gold over the last several years, many people now are cashing in their diamonds. Whether it was a failed relationship or an inheritance, many people are looking for a place to sell their diamonds. But selling your diamonds can be a very big headache if you do not do your research.
Unlike gold, diamonds are meticulously evaluated and a there are a number of characteristics to consider . The resale price of your diamond can vary depending on it’s cut, color, clarity, and carat weight, as well as current market conditions. The most important thing is to locate a credible jeweler that you can trust. Check out their credentials, certifications, and their rating with the Better Business Bureau. You may also find useful some other networks, such as yelp who are giving consumers a great outlet to share their personal experiences.
Do not expect to get what you paid for it. Keep in mind that when you purchase the diamond you probably paid a paid full retail price, regardless of how the salesperson presented it. While diamonds have historically gone up in price over the years the actual value of your diamond is in many cases nearly half of the retail price. Just understand that a retail price and cash value of a diamond can be very different.
For More Information visit www.WeBuyLargeDiamonds.com or call 818-224-2222
THE IMPORTANCE IN JEWELRY APPRAISAL
It is very important to know the value of an expensive purchase. Like a car, a house, even diamond. Diamond appraisals’ are important for all jewelry; if you’re looking to purchase, have just purchased or have inherited a family heirloom getting an appraisal and knowing the value of your diamond jewelry insures that you have the proper information for insurance and knowing it will be replaced if lose for its value worth.
Many people aren’t aware of the difference between a certification and an appraisal. Only loose diamonds could be certified, usually done by Gemologists at GIA (Gemological Institute of America), or EGL (European Gemological Laboratory). The certification report inspects the stones for carat, clarity, color, and cut. A certified diamond are assessed for only certain characteristics before they are placed in to a setting , the piece itself still need to be assessed for its total financial value. This is where the diamond appraisal comes in. This process can vary because it’s subjective and various gemological techniques are used, so it’s important to take your jewelry for an appraisal to someone you trust so you will get the accurate value for you jewelry.
Often people wonder which jewelry to get appraised, the right thing to do is get it all appraised. Everything from everyday watch to an engagement ring because they are all investments. There are several reasons why a person might want to get there diamond jewelry appraised:
- Cash Value
At Raiman Rocks, Gall Raiman, Certified Master Gemologist appraises the diamond jewelry. Over 25 years of experience. Raiman Rocks guarantees the highest standards for appraisal methodology.
At Raiman Rocks we understand that over time fine diamond jewelry can become a treasured family heirloom if it is cared for properly. Pollution, dust, and daily wear all contribute to cloud the brilliance of the stones. The surface of the platinum or gold can become dulled, and can result in the loss of a stone or an entire piece of jewelry. Professional cleanings are encouraged as often as three times a year. We encourage you bring your beloved jewelry to Raiman Rocks back to us for professional servicing. A Professional Servicing includes inspection and cleaning. Between these cleanings most jewelry can be cleaned by a non-abrasive cleanser at home. A mild you should examine your jewelry regularly to make sure clasps and joining are secure along.Jewelry Storage is important as well. Raiman Rocks recommends that you place it in its original case or another suitably lined box or pouch. Separate diamond jewelry in your jewelry box. Diamonds also can scratch other gems or jewelry especially soft items like pearls. Always keep your diamond jewelry protected.Master Gemologist, Gall Raiman has a few words of warning when cleaning your jewelry do not clean them around a sink. If you do, make sure the plug is in. If you are using a brush be gentle because diamonds can become loose from their settings it treated roughly. Please visit www.raimanrocks.com, facebook, or twitter page for more information on Raiman Rocks. If you’d like to contact us directly our email is firstname.lastname@example.org or 818.224.2222.
Colored diamonds are one of the most enchanting and fascinating of all gemstones. The diverse varieties of hues, tones and shades within each of their color range, never fail to demonstrate one of nature’s most remarkable creations. Whether they’re set into exquisite pieces of jewelry, or dearly relished as symbols of antiquity and valuable investments—Canaries, blue, pink, green and red colored diamonds are now highly sought out after by connoisseurs, investors and collectors all over the world for their irreplaceable value and outstanding beauty.
With their scarce appearance among diamond mines all over the world and their rising appeal through media exposure, colored diamonds are capturing the imagination with their fascinating gemology, history and skyrocketing prices. However, while some stones command a price worthy of its size, color and rarity, colored diamonds of all different sorts and variety are currently dominating world markets with their “more accessible price points”—overall, allowing any willing buyer through the doors of the world of ultimate “diamond desire.”
Captivated by their eternal charm of being valued among the rarest and costliest of gems, one might ask which colored gems are the rarest and why?
When dealers are eager to spend pinnacle amounts for a specific type of gem, it’s clear proof that “scarcity rules the day” in the gemology world. At Sotheby’s Hong Kong last October, a 6.04-carat, internally flawless fancy vivid blue diamond fetched $7,981,835, setting a new per-carat record of $1,321,590. The mystery of value in gems such as the record-setting vivid blue, can be simply explained within the gem’s natural color—ranging from blues and pinks, while additionally being assessed for the flawless clarity of the diamond.
The market is consistently proving to be ready for bidders and sellers to polish and display these rare beauties out in the open, where a modified rectangular shape intense blue stone, weighing 13 carats could sale for $6 million to $8 million.
While the supply of pink diamonds is noticeably larger than that of blues, there is still, here too, a thinning amount of these precious stones available. For the past 20 years, the main source of deep pinks has been the Argyle mine of Australia, where the rich colors of these pink and purplish stones have made them vastly desirable, while their small supply expands their rarity and value. Argyle has been noted to be recently “running out of pinks” where each diamond is known to be a “collectible gem.”
In the past year and half, a mere “dribble” of pink gems have been coming out to the diamond market, and as a result of not finding them at dependable and reliable sources, their price and value goes up.
Economic uncertainty is the phrase of the day. A variety of factors such as oil prices at record highs, real estate at record lows, stock market volatility and predictions of inflation are causing investors to think outside the box when it comes to diversification. Those who turned to gold and other precious metals have done exceptionally well over the past several years, but there’s a new kid on the block amount alternative investments: DIAMONDS.
But don’t rush out to Tiffany’s just yet. “Not all diamonds are suitable for investment…” explains Master Gemologist Gall Raiman, founder of Raiman Rocks in Calabasas California which, in addition to selling fine luxury diamonds, specializes in managing diamond-based investments for its high-net-worth clients. “Before we consider a diamond to be of investment –grade, it has to go through a rigorous qualification process that includes an analysis of its physical characteristics, its liquidity (i.e. its ability to sell quickly) and its availbitly to our clients at the right price.” According to Raiman, when you pay retail for a diamond you likelihood of making a profit is greatly diminished because of the dramatic mark-ups. Even if you do manage to get a good price, it is unlikely that you will be buying a stone that is up to the standards of ‘investment-grade’ versus ‘luxury grade,’ unless you have the trained eye of a gemologist who specializes in investment diamonds. Finally, even if you manage to get the right diamond for the right price, you may not be able to sell it on your own without being raked over the coals.
For the above reasons, savvy diamond investors are looking to industry insiders to act as their investment managers- and for these investors the rewards have been extraordinary.
In addition to Raiman Rocks, other players getting in on the game include Diapason Commodities Management SA which listed a specialist investment fund, Diamond Circle Capital Plc, on the London Stock Exchange. Diamond Circle Capital is the first publicly listed fund to invest in rare colored and colorless diamonds, according to International Diamond and Jewelry Exchange’s Web Site. But unlike them, Raiman Rocks’ investment services are more intimate: Individual investors attend a private consultation to set their investment budgets and their profit targets. Raiman then personally researches and tailors a portfolio of diamonds to the investor using these private sources from around the world. Raiman purchases the stones on behalf of this favorable pricing whenever the investor wishes to exit. All this is done for a simple management fee much like a typical wealth manager.
A particular unique aspect about diamond-based investments is their historical stability. “Our Investment Grade Diamonds are among a unique class of stone that has not gone down in value for over 25 years”, explains Raiman. “At the very worst, prices have leveled off for a period. This stability is quite astounding, when coupled with the strong profit potential and high liquidity that doesn’t tie up our clients’ capital for long periods of time.”