No Ceiling - Jewelry Auction Results Keep Rushing Up

(IDEX Online News) - Nearly every jewelry auction in recent months ended with a record. Most paid for a pink diamond at an auction, highest total to date, record per carat price and now, Sotheby’s just had the highest grossing sales day, $53.2 million. Each of the top ten items was sold for more than $1 million.

The top item at the Magnificent Jewels was a platinum and diamond pendant-necklace by Tiffany & Co. that sold for $3,666,500. The emerald-cut diamond weighing 27.19 carats is a D / IF stone with excellent polish and symmetry.

A diamond ring set with 54.20 carats, fancy vivid yellow VS1 modified brilliant-cut diamond, with excellent polish and excellent symmetry achieved $2,322,500 or $42,850.55 p/c.

A light pink diamond IF, Type IIa oval cut diamond that weighs 10.46 carats set in a ring surpassed its high estimate to sell for $2,226,500.

The strong results are considered encouraging for the diamond industry, yet it represents a very narrow niche market.