Editor’s Note
The jewelry auction market is witnessing a notable shift, with vibrant colored diamonds and gemstones now leading demand. This year, record-breaking sales of rare rubies and blue diamonds highlight a growing collector preference for unique, high-color pieces over traditional white diamonds.
The jewelry market continues to thrive post-pandemic, with colored diamonds and gemstones replacing traditional white diamonds as collectors’ favorites at auctions this year. The two auction giants, Christie’s and Sotheby’s, each presented the largest ruby and internally flawless fancy vivid blue diamond ever offered at auction this year, both achieving high-price sales.
Christie’s Geneva presented the largest internally flawless fancy vivid blue diamond ever offered at auction, the “Bleu Royal.” This 17.61-carat fancy vivid blue diamond sold for over CHF 39.5 million (RMB 319 million), secured by an Asian buyer via telephone bid.
Bleu Royal 17.61-Carat Fancy Vivid Blue Diamond and Diamond Ring
Hammer Price: CHF 39,505,000
Auction House: Christie’s Geneva
Auction Date: 2023/11/7
The 17.61-carat fancy vivid blue diamond, Bleu Royal, was the highlight of Christie’s Geneva’s regular Magnificent Jewels sale in November this year.
With a starting bid set at CHF 19 million, it attracted three telephone bidders. They were represented by Max Fawcett (Head of Jewellery, Geneva), Julien-Vincent Brunie (International Director of Private Sales, Jewellery), and Isaac Choi (Managing Director, South China).
The bidding war was fast-paced, quickly reaching CHF 32 million, after which bids increased in increments of CHF 500,000. The telephone client represented by Isaac Choi seemed determined, almost immediately countering bids from the other two. The bidding war was ultimately won by the telephone client with paddle number “9755,” represented by Isaac Choi, securing the prize for over CHF 39.05 million including premium.
The blue color in diamonds originates from trace amounts of boron within the crystal structure. These boron elements were randomly incorporated into the crystal structure during the diamond’s formation deep within the Earth’s crust, making them exceptionally rare. Statistics show that blue diamonds constitute only 0.02% of diamond mining, and only 1% of those reach the highest fancy vivid color grade, making them exceedingly rare. Bleu Royal is one such example.
According to the GIA report, Bleu Royal not only achieves the fancy vivid color grade but also weighs 17.61 carats with a clarity grade of Internally Flawless (IF), the second-highest grade. It is the largest internally flawless fancy vivid blue diamond ever to appear at auction. Records show that fewer than ten fancy vivid blue diamonds over 10 carats have ever appeared at auction, highlighting its extraordinary rarity.
This 17.61-carat pear-shaped blue diamond had been in the collection of the same private owner for the past 50 years before being released to the market this year.
Estrela De Fura 55.22-Carat Mozambique Cushion-Cut Ruby (Ruby & Colored Gemstone Auction Record)
Hammer Price: US$34,804,500
Auction House: Sotheby’s New York
Auction Date: 2023/6/8
The other leading house, Sotheby’s, presented the largest gem-quality ruby ever to appear at auction in New York in June: the 55.22-carat Estrela de FURA. It sold for a staggering US$34.8 million (RMB 248 million) to a Middle Eastern collector, setting a new world auction record for both a ruby and any colored gemstone.
The rough stone for this cushion-cut ruby weighed 101 carats and was discovered in 2022 at a ruby mine in Mozambique, East Africa. Even in its untreated, rough state, it displayed the fluorescence, clarity, and intense red hue traditionally associated only with Burmese rubies.
Mozambique in East Africa is an emerging force in the ruby world in recent years. Mozambican rubies are known for their pure, intense color, even distribution, and high clarity, allowing the pigeon’s blood rubies from this African country to rival the quality of traditional Burmese stones. Estrela de FURA was discovered at the FURA Gems ruby mine in Mozambique, one of the world’s largest ruby deposits today.
After cutting and polishing, the ruby’s weight was reduced to about half of the original rough stone, yet it remains the largest gem-quality ruby ever to appear at auction.
This giant ruby was certified by five authoritative gemological laboratories—American Gemological Laboratories (AGL), Swiss Gemmological Institute (SSEF), Gübelin Gem Lab, GemResearch Swisslab (GRS), and Bellerophon (France)—as a natural ruby with no heat treatment. GRS and Bellerophon further noted in their reports that its hue reached the “pigeon’s blood” level.
*Editor’s Note: The previous record was set in 2015 when the 25.59-carat Burmese ‘pigeon’s blood’ ruby Sunrise Ruby sold for US$30.3 million at Sotheby’s Geneva, purchased by the late Austrian jewelry collector Heidi Horton.
The Eternal Pink 10.57-Carat Fancy Vivid Purplish-Pink Diamond (Fancy Vivid Purplish-Pink Diamond Auction Record & Per-Carat Record)
Hammer Price: US$34,804,500
Auction House: Sotheby’s New York
Auction Date: 2023/6/8
The 10.57-carat purplish-pink diamond, The Eternal Pink, which was auctioned in the same sale as the Estrela de FURA, also sold for a record-breaking price. It fetched US$34.8 million (RMB 248 million) including premium, setting a new auction record for a fancy vivid purplish-pink diamond. Its per-carat price of over US$3.29 million is also a new record high.
The previous auction record for a fancy vivid purplish-pink diamond was set in Hong Kong. The 15.81-carat cushion-cut fancy vivid purplish-pink diamond, The Sakura Diamond, sold for HK$226 million at Christie’s Hong Kong in 2021, setting a record. The announced US dollar equivalent at the time was US$29,285,318, meaning The Eternal Pink broke the record by approximately US$5.5 million.
Let’s compare the two diamonds based on color, clarity, and weight.
The Eternal Pink achieves top ratings in multiple categories.
Color – According to GIA data, out of every 1,400 natural pink diamonds, only 4% achieve the highest “Fancy Vivid” color grade. Both The Sakura Diamond and The Eternal Pink reach the Fancy Vivid grade.
Clarity – The clarity of both fancy vivid purplish-pink diamonds is rated by GIA as Internally Flawless (IF), indicating exceptional transparency and purity. Additionally, both are Type IIa diamonds, known for their exceptional purity and transparency. Less than 2% of all gem-quality diamonds are Type IIa.
Weight – The Sakura Diamond weighs 15.81 carats, making it the heaviest fancy vivid pink diamond ever to appear at auction. The Eternal Pink weighs 10.57 carats, approximately 5 carats lighter.
In summary, both fancy vivid purplish-pink diamonds achieve the highest ratings in multiple categories, with the main difference being weight. Despite being smaller, The Eternal Pink successfully set a new auction record this time, demonstrating that the upward trend in prices for colored diamonds in recent years remains unchanged.