7ct. Blue Fetches $12M at Christie's Geneva

RAPAPORT... A fancy-deep-blue diamond ring by Moussaieff fetched nearly$12 million at Christie's Geneva auction Tuesday, becoming the most expensivepiece of jewelry sold this season, the company said. The rectangular-cut, 7.03-carat, VVS2-clarity stone sold toa private collector for $11.6 million, against a presale estimate of $10million to $14 million. In total, Christie's garnered $55.3 million at theMagnificent Jewels sale, with 12 lots selling for more than $1 million, accordingto the auction house. A cushion-cut, 46.93-carat, D-color, internally flawlessdiamond sold for $3.1 million, under its low estimate of $3.8 million, while aHarry Winston jewel beat its high valuation. The rectangular-cut, 25.20-carat,D-color, VVS2-clarity diamond ring went for $2.5 million, against its upperestimate of $2.2 million. Another rectangular-cut stone - a 32.49-carat, fancy-light-purplish-pink,VS2-clarity diamond ring - also brought in $2.5 million, surpassing its highestimate of $2.2 million.Graff purchased two of the top 10 lots, including anoctagonal-cut Burmese sapphire weighing 42.97 carats. The piece, was estimated at $2 million to $3 million, selling for $2.5 million, or$58,995 per carat. The jeweler also came away with a rectangular-cut Ceylon sapphirebrooch by Cartier which fetched $2 million. The 39.19-carat jewel carried a high estimateof $700,000. Other notable items include a pair of pear-shaped,D-flawless diamond earrings, weighing 12.71 and 12.07 carats. The set broughtin $2.2 million, or $87,700 per carat, within its $1.9 million to $2.5 millionestimate. A pear-shaped, 40.18-carat, D-color, VS1-clarity diamond fetched $1.8million, toward the lower end of its $1.7 million to $2.2 million valuation. Meanwhile, a collection of 28 pieces by Pierre Sterl?(C)performed well, with prices for those goods doubling, tripling and quadruplingtheir presale estimates, Christie's noted. A 1952 diamond necklace by thejeweler achieved the highest price, fetching $237,500. Signed pieces byCartier, JAR, Harry Winston, Bulgari, and Van Cleef & Arpels also performedwell. Image: The 7.03-carat blue-diamond ring. (Christie's)