Bids soar for De Beers ‘Millennium’ diamond

by eyetee | April 19, 2010 12:00 am

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One of 11 blue diamonds formerly part of the De Beers Millennium Jewels Collection sold for $6.4 million US at auction, well above its estimate.

Fierce bidding ensued on the 5.16-carat fancy vivid blue diamond at Sotheby’s Hong Kong Magnificent Jewels and Jadeite auction, finally going to Moussaieff of London.

The De Beers collection comprises 11 rare blue diamonds with a combined weight of 118 carats selected to celebrate the millennium.

The blue diamond wasn’t the only item to surpass its auction estimate. A diamond rivière necklace comprising 50 D-colour internally flawless white diamonds sold for $6.7 million US, $1.6 million above its high estimate.

“Today’s sale of Magnificent Jewels and Jadeite, which achieved the highest total ever for a sale in this category conducted by the company in Hong Kong, demonstrated that what drives buyers and collectors in the current market is the search for perfection and rarity,” said Quek Chin Yeow, head of Sotheby’s Hong Kong jewellery department.

“These results were the latest in a series of triumphs for Sotheby’s Hong Kong and achieved strong prices for white diamonds, coloured diamonds, jadeite, and pearls.”

Overall, the auction garnered $52.4 million US, the highest-ever dollar amount at Sotheby’s for this category.

Source URL: https://www.jewellerybusiness.com/news/bids-soar-for-de-beers-millennium-diamond/