The coveted Royal Blue, a blue diamond considered perfect, sold for $43.8 million (€40.7 million) at Christie’s in Geneva on Tuesday, making it not the most expensive stone in its category.
Royal Blue was the flagship of a series of auctions organized this month on the shores of Lake Geneva, alongside iconic objects from the history of cinema, such as pearls worn by Audrey Hepburn and an engraved watch by Marlon Brando.
The 17.61 carat stone is simply the largest flawless, bright blue fancy gemstone ever offered for sale in auction history.
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Set in a ring, it has been part of a private collection for 50 years. The auction house said it was sold within seven minutes for 39.505 million Swiss francs to a private collector who bid by telephone.
“We are extremely satisfied with the result. It sold for nearly $2.5 million per carat. This is the most expensive piece of jewelry sold internationally at an auction house in the entire year of 2023… We are very, very happy,” Max Fawcett, head of Christie’s jewelry store in Geneva, reacted to AFP.
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“It is one of the ten most expensive pieces of jewelry ever sold,” he added.
Rahul Kadakia, international head of jewelry at Christie’s, revealed before the sale that many modern diamonds were individually cut to enhance their color.
But in the case of royal blue, “the raw material itself was so rich that it could be carved in a classical style with brilliant facets,” he said. “It ticks all the boxes – it’s truly best in class.”
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Bright blue fancy diamonds weighing more than 10 carats are extremely rare. Since Christie’s was founded in 1766, only three stones of this type have been offered for sale, and that has been the case for 13 years.
Sales record
The sales record is still held by Oppenheimer Blue, which was acquired in 2016 for $57.5 million (€53.6 million).
“This part of the jewelry market is now valued in the same way as the art market,” says Kadakia. “The market has recognized the great rarity of these special stones and prices are now valued in the same way as large paintings.”
In total, the 87 lots in this “magnificent jewelry” auction were sold for more than $77.5 million (€72.5 million).
Marlon Brando
In another sale at the auction house, the watch Marlon Brando wore in the 1979 film Apocalypse Now sold for just over $5 million (€4.7 million).
The Rolex GMT-Master from around 1972 bears the inscription “Mr. Brando,” hand-engraved by the Oscar-winning American actor.
“The engraving is still clear, so you can imagine that this watch was worn, but not too often,” said Eli Fayon, watch specialist at Christie’s Geneva.
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Brando gave it to his adopted daughter Petra in 1995, who gave it to her husband on their wedding night in 2003. The watch was then auctioned in 2019 for 1.8 million euros.
Over time, the white hands and indices have turned parchment yellow, but according to Christie’s it is still in very good condition.
A separate Christie’s online jewelry sale, running through Nov. 16, features the pearl necklace Hepburn wore in William Wyler’s 1953 film “Roman Holiday.”
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The actress, who played a princess in this romantic comedy, chose it from a selection by the Austro-Hungarian jeweler Fürst.
It is being sold by a European collector with a starting price of 18,000 Swiss francs (18,650 euros), but in the event of a bidding war the price could be significantly higher.
“It only takes two people to throw a party,” says Max Fawcett, head of jewelry at Christie’s in Geneva.
The fall sales season is in full swing in Geneva, where Sotheby’s is also offering an extraordinary auction this week that is considered the most significant collection of imperial and royal jewelry ever auctioned.