Thursday, October 11, 2007

6.04 Carat Fancy Vivid Blue Diamond Sells for $7.98 Million

Fancy vivid blue
diamond fetches
$1.32 million p/c
Photo: Sotheby's

Demand for large diamonds with exceptional color drove the price of a 6.04 carat, emerald cut IF / fancy vivid blue diamond ring to $7,981,835 following an intensive auction at Sotheby’s Monday in Hong Kong. The winning bidder is reportedly Moussaieff Jewellers.

The sale, a record per carat price for Sotheby’s at $1,321,590 per carat (p/c), was part of the Magnificent Jewels and Jadeite auction in Hong Kong.

The bidding lasted eight minutes, with seven telephone bidders competing for the rare diamond.

According to Quek Chin Yeow, head of Sotheby’s Hong Kong Jewellery Department, Hong Kong dominates the market at the top end for white and colored diamonds in Asia.

The per carat price exceeded the previous record of $926,000 p/c for the Hancock Red, a 0.90 carat red diamond sold in 1987.

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