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International Rare Diamonds: Predictions from 3 September Auctions

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Diamonds are something that have fascinated people for centuries, and when rare gems such as the ones below go to auction it causes a stir among dealers and investors. New diamond discoveries are becoming increasingly rare, as fewer mines remain in operation. Currently, there are just 30 operational mines across the world, and despite billions being spent on exploration, a tier-one diamond mine hasn’t been found since the 1990s.

With less opportunity to uncover unusual stones, the number of exceptional diamonds is diminishing. This makes the precious stone all the more elusive. At each high-end jewellery auction, there is a growing number of interested buyers, especially from the Chinese market, who believe diamonds represent eternity and high status.

Upcoming October auction

Christie’s Important Jewels

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On October 22nd at the Rockefeller Plaza, New York, Christie’s Auction House will be selling 350 lots that comprise of Important Jewels. The sale will feature an array of jewels from famed jewelers, such as Cartier, David Webb, and Tiffany & Co. For anyone looking for something truly special, this auction is the perfect chance to capture a timeless jewel.

Past September auctions

In the past month, Sotheby’s and Rio Tinto auctioned off some spectacular pieces as part of two large collections.

Sotheby’s Important Jewels

The Sotheby’s Important Jewels collection, that were auctioned September 23rd, featured both modern classics and exquisite period jewels. Included was a rare Belle Époque garland design bracelet by Cartier, and a magnificent Internally Flawless marquise-shaped diamond.

Rio Tinto’s Rare Pink Diamonds

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Rio Tinto, the world’s second-largest mining company, released it’s 2014 Argyle Pink Diamonds Tender collection. These were to be showcased in New York, Sydney, Perth, and Hong Kong until October 8th. The collection included 55 diamonds, of which 51 are pink/purplish/red. The remaining four were Fancy Red diamonds. Only 13 Fancy Red diamonds have been included in the annual tender in the last 30 years.

Pink diamonds typically command significantly higher prices than white diamonds, and the annual pink tender diamond collection offered by Rio Tinto is regarded as one of the rarest and most valuable collections in the world. The Australian company controls almost all of the world’s rare pink and red diamonds.

Previous auctions

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If previous auctions are anything to go by, these did and will see some serious spending on diamonds. For example, in May 2014 Sotheby’s Geneva auction achieved a total of $141,492,079, with an incredible Graff Vivid Yellow diamond fetching $16,347,847.

In the same month, Christie’s Magnificent Jewels auction achieved a total of more than $78 million, with the top selling item being a $10 million 56-carat heart-shaped diamond. Other big sales included an antique Imperial Mughal spinel necklace, which reached bidding of more than $5 million.

The 2013 Rio Tinto Argyle Pink Diamond Tender saw all 64 pink, red and blue diamonds sold, with bids breaking more than $2 million for a single stone. The auction also set the record for the highest amount ever paid for a Fancy Deep Pink diamond.

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One of the most impressive sales in the last year was that of a 118.28-carat white diamond, which sold in Hong Kong for $31.8 million.

Each of the auctions experienced higher than expected bidding, highlighting the increasing demand from the world’s top jewellers, designers, collectors and connoisseurs.

by Australian Diamond Brokers : October 12th 2014 Come visit our store or browse our website to find out more.