April 20, 2012
Original Source: JCK Magazine
By: Rob Bates, Senior Editor

Fancy Blue Diamond Sets World Record at Sotheby's Auction  

Two fancy colored diamonds sold for record prices at auction this week—and they were both bought by the same man.

At Sotheby's New York Magnificent Jewels auction on April 18, Brett Stettner of Stettner Investment Diamonds bought a fancy blue diamond ring from Tiffany & Co. for $2.4 million, or $687,712 per carat. The 3.54 ct. VS1 marquise fetched the auction's top bid and went for several times more than its high estimate of $500,000.

According to Sotheby's, that is a world record per-carat price for a fancy blue diamond, topping the 20.17 ct. fancy blue diamond ring that sold for $9.9 million ($490,952 per carat) at Sotheby's New York in October 1994.

The previous day, Stettner set a U.S. record when he paid $15.7 million for the Clark Pink, a ring-set, 9 ct. cushion-cut, fancy vivid purplish pink diamond at a Christie's New York auction.

Stettner says that he feels "humbled" to have won such rare stones.

"These are unique wonderful colored diamonds," he says. "I am looking for diamonds that I can create value with and pass that value on to my clientele. There are not many stones like these. They are priceless."

Overall, the Sotheby's auction took in $43.1 million, the highest-ever total for a spring sale of jewelry at Sotheby's New York, topping last April's then-record tally of $39.4 million.

Other auction highlights:

• A 23.02 ct. cushion-shape step-cut fancy vivid yellow diamond ring went for $1.8 million ($81,429 per carat).

• A natural pearl and diamond necklace from Cartier Paris, circa 1935, went for $1.3 million.

These articles are provided for informational purposes only and were obtained from publicity available sources on the Internet. These articles do not constitute financial advise or trading recommendations by Global Asset Management ("Global"). Global neither warrants the accuracy or completeness of the information contained in these articles, undertakes to update them, nor is it responsible for any omission or error contained in these articles. Viewers are encouraged to conduct, and should only rely on, their own independent research.
The purchase or sale of precious metals involves substantial risk and volatility. If you are contemplating purchasing and/or selling precious metals, you should consult with an independent financial advisor to learn about the inherent risks. Global does not render, and nothing in this website should be construed as, financial advise, a trading recommendations or a solicitation for the purchase or sale of precious metals.

Daily Chart : Gold

Daily Chart : Silver

Daily Chart : Platinum

Daily Chart : Palladium


Copyright © 1996-2010 Global Asset Management. All rights reserved.

2425 Hollywood Blvd. Suite 100. Hollywood, Florida 33020 :: info@globalam.net

phone: 954.921.1021 :: fax: 954.921.1536 :: toll free: 1.888.421.1021