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Tuesday, April 2, 2013

74.79-carat Pear-Shaped Diamond is the Centralpiece at Sotheby's NY Sale

Spring is the season of hope, love and ... sales. The diamond market has all these components. It won't take long for Sotheby's New York auction to take the baton from the Osenat sale in Fontainebleau, France. There are a couple of days left till April 17, the day when more than 400 lots will go under the hammer. There is hardly an auction without diamonds on offer, but among many there is always a special jewel and the Sotheby's action has the one now– exceptional 74.79-carat potentially flawless diamond.

The highlight of the sale, a colorless pear-shaped diamond, only “exemplifies the strength of the white diamond market over the last decade” said Lisa Hubbard, the chairman of North and South America at Sotheby's International jewelry division. This is a VVS1, type IIa diamond that is about to fetch between $9 million and $12 million. In 2001 it was purchased by its current owner for $4.3 million, what is approximately $57,500 per carat. Hubbard also said that they are sure that both diamond industry and private collectors will show interest toward such an exquisite showpiece.

The other lots are now been shown off at the Hong Kong Convention & Exhibition Center and will be brought to New York in a couple of days before the sale.
But where there are the fans of colorless diamonds, there are the backers of colored gems, too. They won't be bored during the auction as well. Beautiful pink diamond earclips cut in a pear-shaped form have already been sold at Sotheby's in 1987, now they are back again to fetch not less than $3.5 million.

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