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Rapaport: Farnese Blue diamond smashed its pre-sale estimate at Sotheby’s

The Farnese Blue diamond sold for more than its pre-sale estimate at Sotheby’s auction in Geneva on Tuesday.

“The Farnese Blue is quite simply an unforgettable diamond, and everyone who set their eyes on it was mesmerized by its extraordinary color — the rich blue of the deepest ocean,” said Daniela Mascetti, deputy chairman of Sotheby’s Europe and its senior international jewelry specialist. “As was evidenced by the competition between bidders this evening, the response from collectors has matched our own excitement for this diamond.”

“The 6.16-carat, pear-shaped, fancy dark grey-blue, SI1-clarity diamond, which Queen Elisabeth Farnese of Spain received on her wedding day, passed through four prominent European royal families. The stone fetched $6.7 million, or $1.1 million per carat, well above its pre-sale estimate of $3.6 million to $5.2 million.

Other top lots at the sale included two D-color, flawless, type Ila white diamond rings. A round brilliant-cut, 51.71-carat ring went for $9.3 million, surpassing its $7.3 million to $8 million estimate, while an oval-cut, 50.39-carat garnered $8.1 million, exceeding its initial price tag of $7.3 million to $8 million.” says Rapaport

According to Sotheby’s, the Magnificent Jewels and Noble Jewels auction generated $85.6 million in sales: 82% of lots sold, 70% of which achieved more than their high pre-sale estimates.

Source: Rapaport