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The Most Iconic Diamond Sales That Reshaped Global Perception June 13, 2023 (0 comments)

New York, NY--A Natural Diamonds report looks at nine iconic diamond auctions that fetched astounding prices.

[Images via Natural Diamonds]

The $71.2 million sale of the Pink Star diamond in 2017 shattered records and piqued investors' interest, proving that high-quality diamonds are a formidable asset. This historic sale was just one in a series of auctions that transformed perceptions of diamonds' worth.

In 1987, the Hancock Red, a 0.95-carat purplish-red diamond, was sold by Christie's in New York for $880,000, introducing the world to the rarity of red diamonds. This sale set a new precedent, demonstrated when the 2.09-carat heart-shaped Moussaieff red diamond fetched $5.1 million at Christie’s in 2014.

In 2017, the Pink Star, a 59.60-carat vivid pink diamond, was sold for an astounding $71.2 million at Sotheby’s Hong Kong. This sale caught the attention of international investors, who recognized diamonds as a discreet, mobile store of wealth. The jewel was purchased by Chow Tai Fook, a Hong Kong jeweler, and renamed the CTF Pink.

The auction of Elizabeth Taylor's jewel collection following her death in 2001 raised a record-breaking $116 million, indicating the enormous value attributed to provenance. Among the items was Taylor’s 33.19-carat diamond ring that sold for $8.8 million, setting a new price-per-carat record for a colorless diamond.

With online diamond sales soared during the Covid lockdown, exemplified by the Flawless Star, a 45.46-carat round brilliant-cut d-flawless diamond, sold online for a record-breaking $4.6 million in April 2022.

The 1987 Sotheby’s sale of the Duchess of Windsor’s jewels after her death fetched over $50 million, breaking records for a single-owner jewelry collection.

The Oppenheimer Blue, a 14.62-carat rectangular cut vivid blue diamond, sold for $57.5 million in 2016, becoming the largest vivid blue diamond ever sold at auction.

The Empress Eugénie’s diamond bow brooch was bought by the Louvre for $10.5 million at Christie’s in 2008, illustrating the cultural and historical value of these gems.

"The Rock," the world's largest white diamond at 228.31 carats, was auctioned off by Christie's in May 2022 for $21.9 million, proving that size and quality can command unprecedented value.

Learn more and see the complete pictures in the Only Natural Diamonds report.