Tzoffey’s Auction Wraps up Third Day of Buyers Week

The sale included unique and rare colored diamonds, sapphires, rubies and emeralds. And as with the previous auction in March, 1% of the money generated will be donated to a fund to help diamond exchange members.

The third day of the US & International Diamond Week ended on Wednesday with an auction held by Tzoffey’s 1818 in the Cullinan restaurant which was full to the brim. The sale included three categories of goods: Items without a minimum price, items which already received offers and items that had not received offers. Like the previous auction held by Tzoffey’s at the US & International Diamond Week in March, again 1% of the money generated will be donated to a fund to help diamond exchange members.

The first part of the sale was for items without a reserve price whose average price did not exceed $1,000, representing a kind of warming up session for the rest of the auction. The owner of Tzoffey’s, Avner Sofiov, was his usual lively and energetic self, and demonstrated proficiency in the type of items that were for sale and gently guided the bidders to raise their bids to the levels of the reserve prices that were known only to him.

As the sale progressed, increasing numbers of hands with signs held high were seen, even though during the evening there was no heavy rush for any particular item. As befits international events, there was a formal atmosphere of restraint and the auction took place in perfect order. The second part of the sale included more expensive items that attracted preliminary bids of tens of thousands of dollars.

The first great interest among the audience came with the announcement of Item 510 – a Fancy Yellow Diamond Natural VVS2 Radiant cut weighing 8.88 carats with a certificate which sold for $138,536. Other items that highlighted the evening were a heart-shaped Burmese ruby weighing 15.76 carats, with no signs of heating which sold for $85,000, and another rare ruby weighing 6.22 carats set in a white gold ring pave set with radiant cut diamonds which sold for $115,000.

The item achieving the highest price was a pair of drop-shaped emeralds weighing a total of 12.85 carats sold for around $168 000.