04 Jul 2020
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No taker for 3ct blue diamond at Sotheby's Geneva auction
The Part II Magnificent Jewels & Nobel Jewels Geneva was not a success as many lots went unsold
By: Diamond World News Service
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Jun 25 2020 3:44PM
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Reference: 25003  

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Sotheby
Sotheby's withdrew the 3.01 ct fancy vivid blue diamond with an estimate of $4.3 – $6.3 million from the sale (Courtesy Sotheby's)

Just when we thought all is well in the world of live digital auction, Sotheby's hit a roadblock with its Part II Magnificent Jewels & Nobel Jewels Geneva. This was the first live jewlelery auction since the pandemic. Many lots went unsold including a 3.01 ct fancy vivid blue diamond with VS1 clarity. The auction house withdrew the diamond from sale. It was estimated to be sold for $4.3 – $6.3 million. Many pieces with fancy colour diamonds went unsold, however, a marquise-shaped fancy intense pink diamond weighing 7.00 carats, between fancy-shaped diamond shoulders, the mount highlighted with brilliant-cut diamonds was sold for more than $3 million including a buyer's premium. However a few rings with fancy yellow and blue diamond failed to make the cut. 

7-carat fancy intense light pink diamond (courtesy Sotheby's)

The reason seems to be the fact that the lots were estimated too high. The lots also included 7 pieces from Cartier, which is usually a hit with collectors. However, only 3 pieces were sold.  According to a report by Forbes, all the 7 pieces were priced higher than what similar items were priced at last year. Three Cartier pieces were unsold, while one was sold above the estimate and three within the estimate. The pieces that were sold included a coral and diamond brooch, a 1909 diamond brooch with pearls and a 1925 emerald and diamond pendant and a diamond sautoir which was sold above the estimate. 


Other standout pieces that were sold includes an Impressive Sapphire Ring, claw-set with a cushion-shaped sapphire weighing 105.89 carats for $1.8 million, a Duchess of Manchester emerald and diamond necklace from 1860 set with cushion-shaped emeralds framed with circular-cut diamonds, alternating with scrollwork links set with similarly cut and rose diamonds sold for $489,495, a Harry Winston diamond and ruby necklace sold for $500,527. 

More affordable pieces from brands like Verdura and Hemmerle with a smattering of beautiful coloured gemstones also did fairly well at the auction. 


Emerald and Diamond Pendant & Sautoir, Courtesy Sotheby's

 

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