Sotheby's to Sell Rare Blue Diamond

RAPAPORT... A rare fancy-deep-grayish-blue diamond ring with a highestimate of $8 million is set to lead Sotheby's Magnificent Jewels sale in NewYork next month.The cushion-cut, 7.55-carat, type IIb, SI2-clarity stone,called the Indian Blue, is valued at $6 million to $8 million, and displays ared phosphorescence typically found in diamonds from the Golconda mine inIndia, or from South Africa, Sotheby's said last week.A bracelet containing 200 Argyle diamonds ranging in colorfrom intense pink to red is also set to go under the hammer at the December 10sale. The piece, created by New York jeweler Carvin French, is estimated atapproximately $3 million. Sotheby's will also offer a fancy-vivid-yellow diamond andsapphire clip-brooch, set with a round-cornered square brilliant-cut14.37-carat yellow diamond, accented with cabochon sapphires and rounddiamonds. The brooch, created by Verdura to look like an iris, carries apresale estimate of $1.6 million to $2.4 million. A 27.96-carat, H-color,VVS2-clarity diamond ring from a private US collector, valued at $1 million to$1.5 million, will also feature at the sale.Also up for auction are several collections, including 16pieces from Mary Duncan Sanford, a former silent-film actress, socialite,philanthropist, and the wife of international polo player Stephen "Laddie"Sanford.Jewels belonging to Princess Natalie Paley, the daughter of the GrandDuke Paul Alexandrovich, uncle of the last Russian czar, will also go under thehammer. The collection of the former Vogue model and wife of a Broadwayproducer and director includes an emerald and diamond clip-brooch, and a gold,platinum and diamond brooch.Other notable items include jewelry by artist Salvador Daliand pieces from Australian twin-brother team David Michael Jewels, which willbe offered at auction for the first time. Sotheby's will showcase the pieces in its New York galleriesbeginning December 5, it said.Image: The Indian Blue. (Sotheby's)