I am well familiar with the auction business. I attend auctions every week and I worked at a major auction house in a previous life (Phone bidding must be the most stressful thing ever!). As much as I would love to be bidding in this auction, these stones are beyond the reach of everyone except the richest of the rich.
Most significant in this auction is the Raj Pink. Weighing in at 37.30 Carats its the largest known Fancy Intense Pink Diamond in the world according the GIA, and it is gorgeous!
It's a beautiful Cushion Modified Brilliant with excellent VS1 clarity. As GIA points out, the cushion shape tends to lend itself to intensifying the color. But the stone was also clearly cut to maximize weight - the proportions are less than ideal. It also appears the stone also has strong blue florescence, which could detract from it’s beauty.
The current auction estimate is $20-30 million, which actually seems fairly reasonable for such a stunning piece. The similar Graff Pink, 24.78 Carat Modified Emerald Cut, also Intense Pink, sold in 2010 for $46 million.
Also on the block will be a 33.63 Fancy Light Pink Emerald Cut Diamond. Just as gorgeous in my opinion, especially with its VVS1 clarity grade and lack of florescence, this diamond is estimate to sell for only $8-14 million.
Other pieces to keep eye on? A 7.41 CT Fancy Vivid Blue Oval Cut Internally Flawless Diamond (estimate at $14-18 million), and a relatively tame 22.76 Carat D/VS1 Emerald Cut Diamond estimated at $1.2-1.8 million.
Basically, Sotheby’s had a really, really bad day at auction. A lot of the items failed to sell.
- The Raj Pink - Failed to sell!
- 33.63 Fancy Light Pink Emerald Cut Diamond 12.8 million
- 7.41 CT Fancy Vivid Blue Oval Cut Internally Flawless Diamond - Failed to sell
- 22.76 Carat D/VS1 Emerald Cut Diamond 2.5 million