Original article found on forbes.com
The Magnificent Jewels auction by Christie’s New York saw some heavy-hitting results – especially where diamonds are concerned. The entire auction yielded $59,685,125 in sales, with dozens of diamonds selling for more than a million dollars each. In fact, the top lot was the Victory Diamond ring with a D-color rectangular cut superb diamond weighing 31.34 carats. The ring sold for $4,309,000 – averaging about $137,500 per carat.
Diamonds are graded by color (or, in colorless diamonds, by the lack of color or the whiteness of a diamond), and a color grade of D is the highest possible valuation – denoting a “chemically pure and structurally perfect diamond” according to the GIA, the largest non-profit Gemological Institute for grading stones.
The Victory Diamond sold for more than $4 million
Yesterday’s auction offered several D color diamonds in addition to the top seller. One D color 43.79-carat diamond, forming a cushion-cut ring, also sold for more than $4 million. A 103.66-carat diamond pendant necklace fetched $3.749,000, while a D color diamond rectangular ring of 28.28 carats sold for $3,413,000. The 28.28-carat diamond set a new world record for being the largest purchase of a gemstone sold to an on-line bidder.