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Diamond Auction At Sotheby's Is Strong.
Diamonds moved briskly and with very strong prices at Sotheby’s New York spring sale of Magnificent Jewels. The trade and privates snatched up the gems as fast as they came on the block.
Items Auctioned yesterday at Sotheby's.
The sale totaled $13,337,300 against a presale estimate of $12,836,400. A 3.12-carat fancy intense blue diamond was the top lot selling to an anonymous member of the international trade for $956,800 against an estimate of $450,000 to $550,000. Several dealers mentioned that while the pear-shaped stone is beautiful as is, there is potential to recut it and improve the color.
The highly touted .90-point round fancy intense green diamond sold for $296,000 to an Asian private. Most of the action at this sale took place over the phone. Bidding — which came from around the world — was light and buyers won the goods quickly.
Rounding out the sale was a healthy selection of signed and period jewelry with David Webb pieces making a strong showing. Sapphires were also of great interest bringing top prices for exceptional material.
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