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AuctionsAug 11, 2016
Record sale lands famous ruby back in Graff hands
The “Graff ruby,” a stone weighing 8.62 carats that possesses the vivid, desirable hue known as pigeon’s blood, was purchased for a record-breaking $8.6 million at Sotheby’s on Wednesday.
In addition, the sale also raised the price-per-carat record for a ruby to $997,727.
Sotheby’s Nov. 12 “Magnificent Jewels and Noble Jewels” sale brought together a group of exceptional jewels and gems from the collection of Greek financier and gem collector Dimitri Mavrommatis, as well as a number of pieces with a noble provenance. The ruby was one of the pieces that belonged to Mavrommatis, having bought it from Graff after it was purchased at auction eight years ago.
The sale totaled $95.3 million and was 90 percent sold by lot and 92 percent sold by value.
In addition to the Graff ruby, another lot in the sale also set a record--a 27.54-carat Kashmir sapphire and diamond ring set a world auction record for a Kashmir sapphire when it was purchased by a private Asian buyer for $6 million.
Other top lots in the sale included a pair of oval-shaped, D color, Type IIa diamonds that sold for $7.1 million, a natural pearl and diamond necklace with a royal provenance that nearly tripled its estimate when it garnered $3.4 million, and a rare fancy intense blue diamond ring of 3.16 carats that also was purchased by Laurence Graff for $3.2 million.
Rounding out the top 10 lots from the Sotheby’s sale are a marquise-shaped, D color diamond ring weighing 16.37 carats that sold for $2.4 million; a step-cut diamond ring weighing 13.27 carats that went for $2.2 million; and a pair of brilliant-cut diamond stud earrings that are both D color and internally flawless that garnered $2.1 million, among others.
The full results of the sale can be found on the Sotheby’s website.
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