Auctions

A Rare Red Diamond Is Heading to Auction

AuctionsAug 30, 2022

A Rare Red Diamond Is Heading to Auction

Heritage Auctions is presenting the stone as part of its fall jewelry sale.

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This 1.21-carat fancy orangy red diamond is a highlight of Heritage Auctions’ fall jewelry event.
Dallas—Heritage Auctions will present a unique red diamond this fall.
 
Headlining its fall jewelry sale on Sept. 29 is a 1.21-carat fancy orangy red diamond, estimated to sell for between $100,000 and $150,000.
 
“This gem is one of only a few diamonds to display enough saturation and intensity to be graded as a true red,” said Heritage Auctions’ Executive Director of Fine Jewelry Jill Burgum. 
 
“Adding to the allure, the cause of a red diamond’s color remains a mystery to scientists, making this stone even more of a marvel.”
 
One of the rarest shades of diamonds alongside colors like violet, experts say the red diamond’s sale estimate is conservative and likely due to the I2 clarity grading, which denotes a significant inclusion.
 
What makes the stone highly unusual is its round shape, explained colored diamond expert Larry West of L.J. West Diamonds in New York City.
 
“I only know of about three other round red diamonds,” he told National Jeweler. 
 
“With colored diamonds, you typically won’t see them cut into a round brilliant shape,” he explained. 

“The round cut gives the most brilliance but will wash out the color the easiest, so only the darkest of colored diamonds will be cut that way.”
 
 Related stories will be right here … 
 
That’s why most pink, red, and violet diamonds are cut into fancy shapes.
 
Red diamonds have commanded millions at auction, like a 1.42-carat fancy red diamond that sold for nearly $2.2 million at Christie’s in 2014, and a 1.05-carat purplish red diamond that earned $2.77 million at the same auction house in 2020. 
 
The largest red the Gemological Institute of America ever graded is the 5.11-carat Moussaieff Red.

Heritage Auctions has other draws at its fall sale.
 
It will present more than 125 jewels from the estate of Dallas philanthropist Mary Anne Sammons Cree, with all proceeds going to charity.
 
Cree died in 2021, leaving her jewelry to Communities Foundation of Texas (CFT) and other nonprofits in the Dallas area. 
 
CFT manages more than 1,200 charitable funds, dispersing over $2 billion in grants since it was created in 1953.
 
 
The most notable pieces in Cree’s collection include the above 17.63-carat fancy intense yellow diamond ring, expected to sell for $300,000-$400,000. 
 
 
The above platinum and 18-karat yellow gold necklace featuring 21.80 carats of Asscher-cut white diamonds and 25.75 carats of Asscher-cut yellow diamonds is expected to earn between $80,000 and $100,000, as is a pair of platinum and 18-karat yellow gold earrings.
 
 
The above butterfly brooch in 18-karat gold with diamonds has a $30,000 to $50,000 pre-sale estimate.
 
See the rest of the lots, which are already open for bids, online.

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