Sotheby’s achieves remarkable sales at Geneva

The ‘Magnificent Jewels’ sale organised by Sotheby’s in Geneva on May 15, exceeded pre-event estimates. The sales amounted to $57.1 million, higher than the estimated $53.7 million. Of the total lots placed on sale, 83 percent were sold, and the sales revenues accounted for 89 percent by value of the lots.

The top lot fetched a per-carat price of $1,328,444, which broke a new record for any gemstone at auction. A prominent purchase was made of a fancy vivid blue pear-shaped diamond ring weighing 3.73 carats. It was bought for $4.955 million by Laurence Graff. He also indulged in purchasing a fancy light pink diamond ring weighing 6.26 carats for $1.59 million.

Another lot – a pair of pear shaped diamonds from the collection of Lily Marinho, the first lady of Brazil, was sold for $2.92 million. A purplish pink 5.06 carat oval-cut diamond mounted on a ring surrounded by pear-shaped stones was bought for $2.55 million.