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8-Carat Blue Diamond Goes Unsold at UK Jewelry Auction
The top lot of Elmwood’s recent fine jewelry sale in London was a 1.84-carat, D color Tiffany & Co. solitaire diamond ring.
This fancy light blue diamond, which went up for auction at Elmwood’s on Oct. 1, was the largest pear-shaped blue diamond ever offered at a British auction. However, it did not find a buyer, as bidding stopped short of the reserve price the seller set for the diamond.
London—The blue diamond that went up for auction at U.K. auction house Elmwood’s last week did not find a buyer.
The 8.03-carat fancy light blue diamond, estimated to fetch between £1.5 million and £2 million ($2 million to $2.6 million), did not meet its reserve price, with bidding topping off at £1.2 million ($1.6 million), according to Elmwood’s.
The stone has even color distribution, VS2 clarity, and no fluorescence, according to its GIA report. It was the third largest blue diamond ever offered at auction in the U.K.
The top lot of the sale was a Tiffany & Co. solitaire ring set with a 1.84-carat round diamond of D color and VVS1 clarity. The hammer price on the ring was £13,000 ($17,200), within its pre-sale estimate.
The 8.03-carat fancy light blue diamond, estimated to fetch between £1.5 million and £2 million ($2 million to $2.6 million), did not meet its reserve price, with bidding topping off at £1.2 million ($1.6 million), according to Elmwood’s.
The stone has even color distribution, VS2 clarity, and no fluorescence, according to its GIA report. It was the third largest blue diamond ever offered at auction in the U.K.
The top lot of the sale was a Tiffany & Co. solitaire ring set with a 1.84-carat round diamond of D color and VVS1 clarity. The hammer price on the ring was £13,000 ($17,200), within its pre-sale estimate.
The second-highest grossing lot was an Art Deco “Tutti Frutti” clip brooch (pictured in the slideshow above) featuring a carved cabochon emerald surrounded by old-cut diamonds and carved emerald, ruby, and sapphire leaves.
It sold for £8,000 ($10,600), its low-end estimate.
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It sold for £8,000 ($10,600), its low-end estimate.
That was followed by a Van Cleef & Arpels Art Deco 18-karat yellow gold hinged powder compact with its sides and clasp set with rectangular step-cut rubies.
The hammer price on the case was £5,800 ($7,700), just below its low estimate.
A gold Van Cleef & Arpels Art Deco vanity case set with rubies
A gold vintage bracelet of textured links accented by a row of round blue sapphires
Rounding out the top five were two sapphire jewels that both sold within estimate for £5,500 ($7,275).
One is a vintage 18-karat yellow gold bracelet set with blue sapphires.
The other is a platinum ring, circa 1940, set with a 5.45-carat octagonal step-cut blue sapphire surrounded by diamonds.
The auction house has several other fine jewelry sales slated to take place this month, including a collection of antique and vintage jewels on Oct. 21.
More information is available on Elmwood’s website.
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