AuctionsDec 06, 2022
Jewels from the Sunken ‘Ship of Gold’ Smash Auction EstimatesAuctionsDec 08, 2022
303-Carat ‘Golden Canary’ Diamond Fails to Sing at Auction
In addition, a 2.08-carat blue diamond did not find a buyer while a 3.24-carat blue from the same collection was pulled from the sale.
The 303.10-carat fancy deep brownish-yellow “Golden Canary” diamond sold for $12.4 million at Sotheby’s New York on Wednesday, compared to a pre-sale estimate of at least $15 million.
New York—The yellow diamond dubbed the “Golden Canary” fell short of expectations at Sotheby’s New York Magnificent Jewels sale Wednesday while two blue diamonds also did not dazzle.
The 303.10-carat fancy deep brownish-yellow diamond is one of the largest polished diamonds in the world, Sotheby’s said, and the largest flawless or internally flawless diamond ever graded by the Gemological Institute of America.
Originally, the stone was cut into a shield-shaped 407.49-carat fancy deep brownish-yellow diamond and called the “Incomparable Diamond,” but was recut to improve its color and shape.
Offered without reserve, meaning with no minimum bid requirement, the auction house expected the stone to sell for at least $15 million.
The final hammer price, however, was only $12.4 million, including buyer’s premium.
All told, Sotheby’s Magnificent Jewels sale totaled $50 million, with 81 percent of lots sold.
Many jewels failed to exceed expectations.
There were a few standouts, however, like the 5.27-carat emerald ring from the collection of Mrs. Frank Perdue that was salvaged from a Spanish shipwreck, sold to benefit humanitarian efforts in Ukraine.
Estimated to earn between $50,000 and $70,000 it brought in a staggering $1.2 million.
Two blue diamonds from a collection of “exceptional” blues, though, again failed to find an audience at Magnificent Jewels.
“The De Beers Exceptional Blues Collection” comprises eight diamonds, two of which Sotheby’s has offered at auction so far.
Earlier this fall, Sotheby’s announced it would sell a collection of eight fancy blue diamonds valued at more than $70 million total at different auctions through 2022 and 2023.
Sourced from the Cullinan mine in South Africa, De Beers and Diacore jointly purchased the original five rough blue diamonds, with the latter cutting and polishing them into the collection of eight stones.
The first of “The De Beers Exceptional Blue Collection” failed to sell at Sotheby’s Geneva in November.
On offer at the New York Magnificent Jewels auction this week was a 3.24-carat cushion brilliant-cut internally flawless fancy vivid blue diamond (estimated at $5 million-$8 million) and a 2.08-carat cushion-cut fancy intense blue diamond ($1.2 million-$1.5 million).
One of these stones was pulled last minute, and the other failed to meet its reserve.
A Sotheby’s spokesperson explained, “The 3.24-carat from the De Beers Exceptional Blue Collection was withdrawn prior to the sale following discussions with the consignor and, unfortunately, the 2.08-carat from the same collection did not find a buyer in our salesroom today.
“In no part, however, does this detract from the rarity of the De Beers Exceptional Blue Collection, and we are very much looking forward to presenting the five remaining exquisite gems in the New Year.”
Sotheby’s less-than-stellar sale caps off an interesting auction season full of highs and lows.
At Sotheby’s Hong Kong this fall the 11.15-carat internally flawless fancy vivid pink “Williamson Pink Star” diamond sold for $57.7 million, becoming the second most expensive gem or jewel ever sold at auction.
Christie’s was poised to have its own pink diamond auction moment with the sale of a 13.15-carat VVS1 clarity, potentially Internally Flawless fancy vivid pink diamond at its Magnificent Jewels sale this week, with the stone estimated to earn between $25 million and $35 million.
More on Auctions
The Latest
MajorsJul 14, 2025
Nanis Opens First StoreThe seasonal store, located in Mykonos, Greece, offers exclusive events, personal styling, and curated experiences.
IndependentsJul 14, 2025
It’s the Summer of Love at Long’s JewelersThe New England jeweler is hosting a bridal event for the month of August.
SourcingJul 14, 2025
Ethical Gem Fair Heads to SeattleThe trade-only event will host its debut fair in the Emerald City later this month.
Brought to you by
Investing in the Next Generation of Bench JewelersThe Seymour & Evelyn Holtzman Bench Scholarship from Jewelers of America returns for a second year.
Events & AwardsJul 11, 2025
The Edge’s Annual Conference Returns in SeptemberIts sessions will focus on inventory strategies, staff performance, retention and acquisition, emerging market trends, and more.
Weekly QuizJul 10, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CollectionsJul 11, 2025
Piece of the Week: Miseno’s ‘Arco’ EarringsFor its 10th anniversary, Miseno designed the “Arco” earrings based on the Arco Felice, an arch conceptualized in A.D. 95 in Miseno, Italy.
Policies & IssuesJul 11, 2025
James Avery to Donate $1M to Texas Hill Country Relief EffortsThe jewelry company is one of several contributing to relief efforts in the region after the recent floods.
Brought to you by
Jewelers of America is Headed to Las Vegas for JCK 2025The countdown is on for the JCK Las Vegas Show and JA is pulling out all the stops.
TrendsJul 11, 2025
Kelly Osbourne’s Engagement Ring Is Sweet as HoneyInspired by fiancé Sid Wilson’s nickname for her, the white and yellow diamond ring features a unique honeycomb design.
CollectionsJul 10, 2025
Penny Preville Celebrates 5 Decades of Jewelry DesignThe brand is marking its 50th anniversary with a limited-edition bangle, high jewelry suites, new collections, and more.
IndependentsJul 10, 2025
Steven Goldfarb to Retire, Close Alvin Goldfarb JewelerGoldfarb said changes in the industry, coupled with his age and the updates needed to modernize his business, drove his decision.
MajorsJul 10, 2025
LVMH Names New Chairman, CEO of the AmericasLongtime LVMH executive Michael Burke has stepped into the role.
Events & AwardsJul 10, 2025
IAC Gold and Diamond Conference Returns to NYC Central topics of next week’s event include climate action, labor rights, artisan preservation, and value retention in producing countries.
MajorsJul 10, 2025
Hearts On Fire Appoints New Sales DirectorVickie Rokkos has joined the jewelry company as its new national sales director of North America.
SurveysJul 09, 2025
Jewelry Stays Strong as Luxury Market Slows, Bain & Co. Says Turbulence will be the new baseline for luxury as it faces its biggest potential setbacks in 15 years, a recent report said.
Supplier BulletinJul 09, 2025
JCK Unwrapped: Trends, Insights & Post-Show TipsSponsored by Rio Grande Jewelry Supply
CollectionsJul 09, 2025
Cece Jewellery’s New Fruit Jewels Celebrate Life’s SweetnessThe “For the Love of Fruits” collection features five fruit pendants, each holding a different meaning.
EditorsJul 09, 2025
The Most-Read Stories of 2025, So FarDiamonds and crimes (some involving diamonds) top the list of National Jeweler’s most popular stories halfway through the year.
SourcingJul 09, 2025
Florida Couple Finds 3-Carat Diamond in ArkansasThey discovered “The Dash Diamond,” named for their dog, at the Crater of Diamonds State Park earlier this month.
CollectionsJul 08, 2025
Mikimoto’s High Jewelry Collection Turns Pearls into PetalsThe “Les Pétales” collection imagines roses caught mid-bloom as a tribute to nature’s beauty.
ColumnistsJul 08, 2025
Peter Smith: Why Jewelers Struggle With Premium PricingLuxury brands charge thousands for their shoes and handbags. Jewelers pricing diamond products should take note, Peter Smith writes.
IndependentsJul 08, 2025
David Rotenberg of David Craig Jewelers Dies at 79Rotenberg was an active member of the American Gem Society and an accomplished appraiser who also worked with therapy dogs at a hospital.
TechnologyJul 08, 2025
‘Diamond Divas’ Brings the Showroom to Social Media Reality SeriesIt follows New York-based brand Shahla Karimi Jewelry’s all-women team in “Say Yes to the Dress” meets “The Office”-style episodes.
Policies & IssuesJul 08, 2025
SMO Gold Launches New FoundationIn its inaugural year, the SMO Foundation will focus on supporting two organizations in West Africa and one in South America.
Policies & IssuesJul 07, 2025
Higher Tariffs Set to Take Effect Aug. 1, Officials SayThe announcement comes just as the 90-day freeze on the “reciprocal” tariffs nears its end, giving countries more time to negotiate.
SourcingJul 07, 2025
Natural Diamond Council CEO David Kellie To Step DownKellie, who joined the organization in 2019, will remain in his role through the end of 2025.
CrimeJul 07, 2025
7 Suspects Charged in California Jewelry Store BurglaryPolice officers apprehended the suspects as they were allegedly attempting to gain entry into another jewelry store.
