Wednesday, November 16, 2011

SUN DROP YELLOW DIAMOND FETCHED RM 37 MILLION !

KEE@FSWMAG.COM

THE SUNDROP DIAMOND, THE WORLD'S BIGGEST YELLOW DIAMOND, SOLD LAST NIGHT IN GENEVA FOR AROUND RM 37 MILLION, MAKING IT THE MOST EXPENSIVE YELLOW DIAMOND EVER.

THE NEW OWNER, WHO IS AS YET ANONYMOUS, HAS THE RIGHT TO NAME THE DIAMOND IF HE SO DESIRES.

Sun Drop Diamond - Sotheby's Geneva - Nov 11 (2)-1.jpg
This gorgeous stunner resembles a drop of golden sun! Well worth the RM 37 million which is equal to a magnificent mansion in New York but if you already have a home, you might as well buy something you can wear or even better, put inside your pocket when the time comes to leave town suddenly

Sotheby’s Geneva set a world auction record for yellow diamond yesterday evening when it sold the Sun-Drop Diamond for CHF 11,282,500 ($12,361,558). Weighing 110.03 carats, this exceptional stone ranks as the largest known pear-shaped fancy vivid yellow diamond in the world. The sale of Magnificent Jewels concluded with a total of CHF 64,048,000 ($70,173,551), against the pre-sale estimate of CHF 65-93 million ($72-102 million). Throughout the day, the sale room was packed and there was very active bidding, which contributed to an extremely high sell-through rate of 82% by lot and one of Sotheby’s highest totals ever for a sale of Jewelry. The sale established a sell-through rate of 70.8% by value.

In addition to the Sun-Drop diamond, the sale included a group of diamonds and exceptional coloured gemstones. An impressive 38.88 carat cushion-shaped diamond achieved CHF 6,354,500 ($6,962,244), and a fancy vivid blue cut-cornered rectangular modified brilliant-cut diamond weighing 4.16 carats, sold for CHF 3,890,500 ($4,262,587). The offering of coloured stones included a superb 12.01 carat Muzo emerald which rose above its pre-sale estimate, selling for CHF 1,314,500 ($1,440,219), and setting a per carat record price for emeralds at auction (est. CHF 365,000-550,000/$400,000-600,000, lot 467).

The sale also comprised a wide range of fine period jewels signed by the most famous and celebrated jewelers of the 20th century, among them were Cartier and JAR.

Sotheby’s next auction of Magnificent Jewels will take place in New York on 7 December 2011, featuring “The Light of Golconda”: An Exceptionally Rare Golconda Diamond Ring with an old mine, cushion-shaped diamond weighing 33.03 carats, D color, Internally Flawless, type IIa classification (est. in the region of $7 million).




SOTHEBY’S SETS WORLD RECORD
FOR A YELLOW DIAMOND AT AUCTION

THE SUN‐DROP DIAMOND
At 110.03 Carats the largest known Pear‐Shaped
Fancy Vivid Yellow Diamond in the World
Sells for CHF 11,282,500 ($12,361,558)

A Superb 12.01 Carat Muzo Emerald Realises $119,000 per Carat,
a World Auction Record Price per Carat for an Emerald
SOTHEBY’S GENEVA SALE OF MAGNIFICENT JEWELS
TOTALS CHF 64,048,000 ($70,173,551),
the Third Highest Dollar Total Sotheby’s Has Achieved for a Jewellery Sale,
(Following Sotheby’s $105 million World Record Jewellery sale last November in Geneva)
Geneva, 15 November 2011 – Sotheby’s Geneva this evening set a world auction record for yellow diamond
when it sold the Sun‐Drop Diamond for CHF 11,282,500 ($12,361,558). Weighing 110.03 carats, this
exceptional stone ranks as the largest known pear‐shaped fancy vivid yellow diamond in the world. Tonight’s
sale concluded with a total of CHF 64,048,000 ($70,173,551), against the pre‐sale estimate of CHF 65‐93 million
($72‐102 million). Throughout the day the sale room was packed and there was very active bidding which
contributed to an extremely high sell‐through rate of 82% by lot and one of Sotheby’s highest totals ever for a
sale of Jewellery.

Commenting on the results of tonight’s sale, David Bennett, Chairman of Sotheby’s Jewellery Department in
Europe and the Middle East and Co‐Chairman of Sotheby’s Switzerland, said: “We are thrilled with the price
achieved by this spectacular daffodil yellow diamond; it is one of the most impressive I have had the pleasure of
selling. The Sun‐Drop Diamond has immense presence and is truly stunning. The Sun‐Drop Diamond is only the
fourth diamond over 100 carats in size ever to be sold at auction and all of them have been sold at Sotheby’s in
Geneva. We are absolutely delighted that Cora International trusted Sotheby’s to present this stone to the
international market. Today’s strong sell‐through rates are a reflection of the continued strength and resilience
of the international Jewellery market”.
In a sale series which has witnessed many strong prices for diamonds, the highpoint of the evening came when
the Sun‐Drop Diamond sold for CHF 11,282,500 ($12,361,558) (Est. 10.2‐14 million/$11‐15 million, lot 506).
Weighing 110.03 carats, this fabulous diamond has been graded Fancy Vivid Yellow, the highest colour grading
for a yellow diamond, by the Gemological Institute of America (GIA). This exceptional stone ranks as the largest
known pear‐shaped fancy vivid yellow diamond in the world, and has a purity of VVS1. The stone was exhibited
earlier this year at London’s Natural History Museum. The rough for the Sun‐Drop Diamond was discovered in
South Africa in 2010, and was cut and polished by Cora International, one of the world’s leading manufacturers
of exceptional diamonds, with its headquarters in New York.
Diamond and Coloured Gemstones
In addition to the Sun‐Drop diamond, the sale included a group of diamonds and exceptional coloured
gemstones.
An impressive 38.88 carat cushion‐shaped diamond achieved CHF 6,354,500 ($6,962,244). The stone has not
only achieved the highest colour and clarity grade from the GIA for white diamonds, D Colour, Flawless Clarity,
but has also been found to be part of the rare Type IIa subgroup, which comprise less than 2% of all gem
diamonds, are chemically the purest of all diamond crystals and often have extraordinary optical transparency
(estimated in the region of $6.5 million, lot 501).
A fancy vivid blue cut‐cornered rectangular modified brilliant‐cut diamond weighing 4.16 carats, sold for CHF
3,890,500 ($4,262,587). (est. CHF 3,100,000‐4,000,000/ $3,300,000‐4,300,000, lot 491).
The offering of coloured stones included a superb 12.01 carat Muzo emerald which rose above its pre‐sale
estimate, selling for CHF 1,314,500 ($1,440,219), and setting a per carat record price for emeralds at auction
(Est. CHF 365,000‐550,000/$400,000‐600,000, lot 467).
Fine Period and Signed Jewels
The sale comprised a wide range of fine period jewels signed by the most famous and celebrated jewelers of
the 20th century. Among them was Cartier represented by an important and very fine natural pearl and
diamond necklace designed in the 1930s, which sold tonight for CHF 3,050,500 ($3,342,250) (Est. CHF 715,000‐
1,100,000/ $765,000‐1,225,000, lot 505). A testament to the exaltation and joie de vivre that characterised the
between‐the‐wars era it is composed of five graduated rows of natural pearls and enhanced by two shieldshaped
plaques, featuring circular‐ and single‐cut diamonds.
Among great contemporary signatures featured tonight was JAR, widely acknowledged as being the most
talented jeweler of his generation. Two superb creations by JAR featured in the sale: a fine and rare rock crystal
and diamond brooch dating from 1987 sold for CHF 338,500/$ 370,874 (Est. CHF 230,000‐410,000 /$250,000‐
450,000, lot 503), and a very attractive morganite and diamond pendent dating from 1984 achieved CHF
338,500 ($370,874) (est. CHF 95,000‐180,000/ $100,000‐200,000, lot 502).
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NOTES TO EDITORS:
Previous Records
PREVIOUS WORLD AUCTION RECORD FOR A YELLOW DIAMOND
The previous world record for a yellow diamond was achieved by ‘The Vivid Yellow’, a pear‐shaped fancy vivid yellow
diamond, weighing 32.77 carats, VS2, which sold for $6,578,500 at Christie’s New York, October 2011.
PREVIOUS PER CARAT WORLD AUCTION RECORD FOR AN EMERALD
The previous world auction record price per carat for an emerald was achieved by a 10 carat emerald ring, sold for
$113,000 per carat, at Christie’s Hong Kong, May 2000.
Diamonds Over 100 Carats previously sold by Sotheby’s
Only three perfect white diamonds, each weighing over 100 carats, have ever been sold at auction and all of them were at
Sotheby’s Geneva:
The Star of the Season ‐‐ a Pear‐shaped diamond, 100.10 carats, D Colour, internally flawless ‐‐ which sold for $16.5
million at Sotheby’s Geneva in 1995, an auction record for a white diamond.
The Mouawad Splendour ‐‐ a Modified Pear‐Shaped Diamond (11 sided), 101.84 carats, D Colour, internally flawless ‐‐
which sold for $12.8 million at Sotheby’s Geneva in 1990.
The Star of Happiness ‐‐ a Cut‐Cornered Rectangular Modified Brilliant‐Cut Diamond, 100.36 carats, D Colour, internally
flawless ‐‐ which sold for $11.9 million at Sotheby’s Geneva in 1993.