‘Fortune Pink’ Falls Short of Lofty Expectations at Auction
Estimated to sell for $25 million-$35 million, the 18.18-carat fancy vivid pink diamond went for $28.8 million.
The estimated sale price for the 18.18-carat diamond, a modified pear cut, was $25 million to $35 million, and its auction appearance came just one month after the record-breaking sale of another fancy vivid pink diamond, the “Williamson Pink Star” at Sotheby’s Hong Kong.
That diamond, a 11.15-carat fancy vivid pink diamond, had a pre-sale estimate of $21 million, well below its ultimate $57.7 million sale price.
While CBS News described a “tense bidding war” for the “Fortune Pink” among three telephone bidders at auction, the final sale price for the VVS2 stone was $28.8 million, at the low end of its estimated range.
A private buyer from Asia purchased the diamond.
Other highlights from the sale included a 41.36-carat diamond ring from Graff ($3.8 million), and a diamond riviere necklace from the collection of Lord and Lady Weinstock ($882,816)
Four jewels from what Christie’s described as a “European Princely Family” sold for a total $1.4 million.
The highlight was a Bulgari Art Deco natural and cultured pearl necklace. A wedding gift from Prince Gaetano of Bourbon-Parma to his wife, Princess Margarete of Thurn and Taxis, it sold for $511,779.
In total, Magnificent Jewels earned $57.3 million, with the sale of the Fortune Pink accounting for half of that. The auction sold 96 percent by value and 87 percent by lot.
The Magnificent Jewels sale was part of Christie’s “Luxury Week,” which also included two watch auctions and a sale of rare wines in Geneva, as well as an upcoming auction of art from the estate of Microsoft co-founder Paul G. Allen in New York.
“Legendary and Unique Watches” took place Nov. 6, totaling $31.7 million and selling 100 percent by lot.
The top lot was a sapphire and titanium Richard Mille RM56-01, which sold for $3.6 million.
“Rare Watches” was Nov. 7 and totaled $23.9 million, selling 99 percent by lot.
The top lot was a circa 1969 Rolex “Lemon Paul Newman Daytona,” ref. 6263, which sold for $3.5 million.
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