Sotheby’s to auction 74.79-carat diamond; pre-sale estimate $9M-$12M

The highlight of Sotheby’s annual spring Magnificent Jewels auction in New York on April 17 will be an exceptional 74.79-carat, D, VVS1, potentially flawless, Type IIA, pear-shaped diamond that has a presale estimate of US$9 million to US$12 million.

The sale features 400 lots with a total presale estimate of more than $35 million.

The pear-shaped gem will be sold just a month before rival auctioneer Christie’s puts a pear-shaped D color, Type IIA flawless diamond weighing 101.73 carats on the block at its Geneva showroom.

Lisa Hubbard, chairman of North & South America at Sotheby’s International jewelry division, said, “This truly exceptional stone exemplifies the strength of the white diamond market over the last decade. It was acquired by the present owner in 2001 for US$4.3 million and today we have estimated it conservatively at US$120,000 per carat. The stone has universal appeal and we anticipate that it will draw attention from both the diamond industry and discerning private collectors alike.”

"The strength of the jewelry market at this moment lies in pieces that have emerged from private collections – most recently evidenced by the success of jewels owned by Mrs. Charles Wrightsman and Estee and Evelyn H. Lauder."

As a result, Sotheby’s has curated the April auction to include a wealth of exceptional pieces, such as rare colored stones from the Gould family and iconic styles including Cartier’s ‘Tutti Frutti’ bracelet and panther brooch, she added.

The main items from the auction will be highlighted at a display at the Hong Kong Convention & Exhibition Center from April 3 to 7. The items then return to New York for exhibition on April 13, together with a selection of jewelry items from the forthcoming Geneva sale of Magnificent Jewels & Noble Jewels.

Among the top items is a pair of pink diamond earclips of 5.79 carats and 5.68 carats first sold by Sotheby's in 1987. They have a presale price estimate of $3.5 million to $4.5 million.

There is also a 21.46-carat, D, internally flawless, Type IIA, emerald-cut diamond ring with a presale estimate of $2.5 million to $3.5 million.