A diamond bought in memory of late diamantaire Sam Abram sold for more than double its high estimate at Christie’s Geneva auction Wednesday.
The cushion brilliant-cut, 118.05-carat, fancy-yellow, VS2-clarity stone fetched $7.1 million, or $60,000 per carat, at the Magnificent Jewels auction. The diamond, which was estimated at $2.5 million to $3.5 million, was purchased by Siba Corp. in honor of its former president. The company subsequently named it The Siba Diamond.
Three ruby pieces broke the top 10, all selling for well above their estimates. A 22.86-carat Burmese ruby ring by Harry Winston went for $7.2 million against its high estimate of $3 million, a final price of $314,900 per carat. Meanwhile, a Van Cleef & Arpels ruby and diamond necklace, which was valued at $400,000 to $600,000, garnered $2.4 million, and a ruby and diamond bracelet by the same jeweler fetched $1.6 million. That piece was estimated at $150,000 to $250,000.
Read more about the record-breaking 118 carat yellow
Siba Diamond on the Rapaport website HERE