A 110-carat yellow jewel called the Sun Drop Diamond, thought the biggest of its kind in the world, sold for a record $10.9 million at Sotheby’s auction in Geneva. Including commission the unidentified telephone bidder paid almost $12.4 million for the gem, putting it within the $11 million to $15 million range Sotheby’s had estimated before the sale.
It’s a record for a yellow diamond at auction, said David Bennett, the head of Sotheby’s jewellery division. He said it was the eighth most expensive diamond sold at auction. After Sotheby’s sold a 24.78-carat fancy intense pink diamond for a record-breaking $46 million last year, some had expected the auction’s headline piece to finish higher.
When it gets to this price, there are only half a dozen people who can actually participate, said Mourad Hatik, a Geneva jewel trader. If they decide they already have a similar stone, then the price doesn’t go up.
The second priciest lot was a cushion-shaped white diamond weighing 38.88 carats which sold for $6.96 million, including the premium paid by the buyer. A 12.01-carat emerald from Colombia’s Muzo mine sold for $1.4 million and a blue diamond ring was snapped up for $4.3 million.
But several major jewels were stranded on the block including an elaborate gold and diamond peace dove brooch, a blue diamond ring estimated at over $7.5 million, and a suite of imperial jewels.