Investors, collectors and connoisseurs of rare Fancy Color Diamonds are all abuzz. On November 11, a 12.03-carat Fancy Vivid Blue diamond named The Blue Moon broke the world-record price for any diamond, gem or jewel sold at auction when it fetched $48.5 million at Sotheby’s Magnificent Jewels sale in Geneva.
The night before, at rival auction house Christie’s Geneva, a 16.08-carat Fancy Vivid Pink diamond called The Pink sold for $28.5 million, a world-record price for any Fancy Vivid Pink diamond.
But perhaps the most astonishing news from the rarefied world of Fancy Color Diamonds is the fact that one collector – Chinese real estate tycoon Joseph Lau – was the high bidder for both incredibly rare diamonds. In back-to-back evenings he spent $77 million on the world-class stones, which he bought as gifts for his seven-year-old daughter Josephine.
Mr. Lau promptly renamed the Fancy Vivid Pink diamond “The Sweet Josephine,” and the Fancy Vivid Blue diamond “The Blue Moon of Josephine.”
Once in a Blue Moon
The flawless Blue Moon of Josephine is the largest cushion-shaped diamond in its category to appear at auction and received the highest possible color grading for a natural blue diamond – Fancy Vivid Blue — from the Gemological Institute of America (GIA).
“Many people have likened the color to the ocean and the sun playing on the waves,” said David Bennett, worldwide chairman of Sotheby’s jewelry division. “It’s an absolutely entrancing stone, and I never tire of its varying moods in different lights—in fact, just like the sea.”
To learn more about this extraordinary Fancy Vivid Blue diamond read Sotheby’s catalogue essay, written by renowned jewelry historian Vivienne Becker.
In the Pink
The Sweet Josephine Fancy Vivid Pink diamond is also the largest in its class ever certified by the GIA. The cushion-shaped stone, weighing 16.08 carats, is set in a ring, within a diamond twin surround (also known as a double halo), and mounted in platinum and gold.
The Fancy Vivid Pink is GIA-certified as a Type IIa diamond, which means it ranks within the top 2 percent of all gem diamonds in the world.
“As large and rare colored diamonds of this caliber become increasingly hard to locate, this 16.08 carat Fancy Vivid Pink diamond comes to market at a time when great gems are mirroring prices achieved for masterpieces in the world of fine art. Collectors are looking to jewels as savvy investments that are both beautiful and can appreciate considerably in value over a relatively short period of time,” said Rahul Kadakia, Christie’s International Head of Jewelry.
Congratulations to savvy collector Joseph Lau and his lucky daughter Josephine!
“The Lady in Pink” Fancy Intense Purple-Pink Diamond.