The fancy color diamond shattered presale expectations at Heritage Auctions in the US, fetching US$1.8 million and setting a record for a Texas auction company.
1.21 carat round cut diamond, fancy orange red, graded I2.
Before the start of the autumn Fine Jewelry Signature Auction, pre-sale calculations suggested that the diamond would cost $US150,000, but when the hammer came down, the sale price was 12 times higher.
“Diamonds described as predominantly red are extremely rare, and diamonds over one carat are especially rare,” said Jill Burgum, Heritage Jewelery Executive Director.
“Therefore, we were not surprised that this magnificent example attracted the attention of our discerning customers.”
Heritage Auctions raised a total of US$8.2 million (AU$12.8 million) from the September 29 auction.
“Therefore, we were not surprised that this magnificent example attracted the attention of our discerning customers.”
Heritage Auctions raised a total of $8.2 million at the September 29 auction.
Other items included a 17.63-carat emerald-cut diamond ring, fancy yellow, VVS2 clarity, flanked by baguette-cut diamonds. It sold for $US591,000 ($AU910,000) and far exceeded presale expectations.