Diamond Engagement Rings

Ask Christie’s and they will tell you it’s true. A few days ago, a Christie’s auction in Hong Kong saw the largest colourless diamond in 18 years go for over US $6 million. According to Christie’s this rare gem was auctioned in Hong Kong – and it’s the largest diamond thus far to be sold in Asia – simply because they see the Asian market emerging as a strong demand for high priced diamonds. Due no doubt to the large crop of private collectors that seem to be making their presence felt in these auctions ever since the spurt in the economies of China, India and Russia, not to mention some of the smaller South East Asian economies.

The diamond sold is over 100 carats - 101.27 to be precise and it was sold at a price that was very much an estimated one. It is absolutely flawless with an F colour and is classified a VVS1 stone. To date, there have been only three large colourless diamonds that have been auctioned and they have all been sold in Switzerland. The diamond, it is said is the size of a quail’s egg though Asian collectors seem to be more in favour of the perfection of the stone rather than the size. This diamond however, wins hands down on both counts.

This auction in Hong Kong is being viewed as one of Christie’s most successful ones as they sold jewellery here worth over US $60 million. There was also a green diamond over 10 carats that fetched nearly US $ 3.5 million. A pair of emerald earrings that belonged to a Russian Grand Duchess also fetched a record price.

D diamonds are the ones that are top rated in the diamond hierarchy. A ‘D’ coloured diamond means the gem has an absolutely brilliant white colour and perfect shine and dazzle. So when a diamond that is not just classified as a D diamond but is also rather large comes into the market, you would think that it would be picked up in the twinkling of an eye, or maybe before you could say ‘D’!

However this was not to be as can be seen in the case of the Sotheby auction in Hong Kong. The over 72 carat absolutely flawless diamond that came up for auction didn’t even meet the reserve price. One wonders why this was so considering that there are a lot of people out there who just wait for a stone like this to pop up for sale. Could it be that the worldwide financial scene has something to do with it? Well, in this case, the diamond was later sold – one knows not to whom and one knows not for how much. It’s been said that this pear shaped D diamond was really exceptional in every way and was the third largest in the world to be auctioned.

Next on the line is Christie’s with an over 100 carat diamond, again said to be flawless. Now that will be the largest one to go under the hammer in all of Asia and it could just fetch a pretty package. One hopes it will be dazzle days ahead for this one.