Resurgence in Sales of Coloured Diamonds
After a period of uncertainty as a result of the global pandemic, Christie’s Magnificent Jewels auction, held on the 13th April in New York, was the setting for what is hopefully a resurgence in the sale of fancy coloured diamonds.
Christies reported global participation with bidders hailing from 40 countries across 5 continents. Leading the auction was a trio of fancy coloured diamonds, described as the “Perfect Palette.” The pink, orange and blue diamond rings were sold separately but altogether achieved a total of $8.4 million, surpassing the top estimate.
The 2.17 carat Fancy Vivid Purplish Pink, cut cornered square, had a top estimate for $2.5 million and sold for an incredible $3,510,000. The arguably rarer, 2.13 carat Fancy Vivid Blue cut-cornered rectangular diamond, sold just shy of its top estimate at $2,670,000 and the 2.34 carat Fancy Vivid Orange cut-cornered rectangular diamond, sold for $2,190,000.
“Coloured diamonds are exceptionally rare and with the relatively recent closure of the Argyle Mine, which was the source of approximately 90% of the worlds pink diamonds, it is no surprise that the purplish pink sold above the price of the blue diamond, despite being less rare,” said Philip Baldwin, Managing Director and Co-Founder of Amma Group.
“Fancy Coloured Diamonds are unlike almost any other luxury investment, purely because they are a finite commodity. Much like a Renoir or a Picasso, their scarcity and rarity is driven by the inability to produce anymore. This differs greatly from other man-made luxury items whose scarcity is as result of a business decision”, said Mahyar Makhzani, Managing Director and Co-Founder of Amma Group.
Achieving uncorrelated returns in a unique asset class, Amma Group is a fancy coloured diamond and precious stone fund manager.
Christies
Rare Fancy Purplish-Red Diamond Sells Above Estimate
A 1.05 carat fancy purplish-red cut-cornered rectangular shaped diamond sold at Christies Geneva yesterday, the 10th November for $2.74 million, almost a million above its high estimate of $1.85 million. The stone with VS2 clarity, was mounted on a simple platinum and gold Graff ring and was flanked by 2 heart shaped white diamonds.
Also selling at the auction was a 3.96 carat fancy deep blue pear-shaped diamond ring which went within estimate, for $1.73 million; and a 16.45 carat Kashmir sapphire which sold for $789,570, almost one hundred thousand dollars above its top estimate.
The on-going results of auctions that have taken place during the pandemic, continue to prove that the rarest of rare are a commodity which holds its own, during economic downturn.
Amma Asset Management Delighted to Announce Realisation of Sciens Coloured Diamond Fund III
…the fund was completely realised with a 25% net return, over a 26 month purchase period…
Launched in Q4, 2017 and originally comprising 7 diamonds of 15.33cts, fund III included a 1.20ct, Fancy Vivid Green, Round Brilliant cut and a 1.14ct Fancy Red, Modified Rectangular cut, both of which are considered to be amongst the rarest stones on earth. Also included within the fund were three fancy blue diamonds and two fancy pink diamonds.
Since inception, the fund has predominantly outperformed the stock market and far exceeded bonds, gold and colourless diamonds.
With one stone already sold, the fund was completely realised during Q1 2020 with a 25% net return, over a 26 month purchase period, representing NAV.
Cullinan Mine Unearths Five Significant Blue Diamonds
The Cullinan mine is known as the world’s most important source of blue diamonds. It is therefore very exciting to hear that Petra Diamonds has announced the discovery of five blue diamonds of high quality at its Cullinan mine in South Africa.
These rough stones are significant in size, ranging from 9.61 carats up to 25.75 carats and are assessed as being individual stones opposed to being part of one larger stone.
The last most significant blue diamond weighing 20.08 carats, was unearthed from Cullinan a year ago. “It is therefore even more unusual to recover five high quality stones around the same time, all in the space of one week’s production”, commented the mine.
Given the current pandemic, Petra Diamonds is maintaining a flexible approach to the sale of these incredible stones. And with their last blue diamond (20.08ct) selling for $14.9m USD, speculation and anticipation will be high.
Cullinan, was the source of the world’s largest gem diamond ever recovered: the Cullinan diamond weighing an astonishing 3,106 carats in its rough form, was cut to create the Great Star of Africa and the Second Star of Africa, the two largest cut diamonds in the British Crown Jewels.
Highly Anticipated Magnificent Jewels Hong Kong Auction
On October 7th, the much anticipated Magnificent Jewels auction in Hong Kong will present some of the finest of natures gifts. Rare and exquisite treasures whose journey from mine to final design has taken enormous skill, artistry and unparalleled passion.
Featuring amongst other pieces, a very rare 6.41 carat Pigeon Blood, cushion cut, Burmese ruby ring with a reserve of between $2 to $2.8 million USD and showing no gemmological evidence of heat or clarity enhancement. The stone is also accompanied by AGL Jewelfolio™ stating 'Its size, provenance and outstanding quality signify a gem ruby of unique rarity and beauty... This ruby has received one of the highest colour grade determined by AGL: 2.5... Burmese rubies of this shade and appearance are typically described as having a Pigeon Blood colour '.
The auction also showcases a number of fancy coloured diamonds including a 4.84 carat Fancy Vivid Blue, Internally Flawless, pear shape ring with a reserve of $7 to $8.3m USD.
Argyle Pink Diamonds releases one of it’s final collection Tenders.
Named One Lifetime, One Encounter, the Argyle Pink Diamonds Tender is expected to be one of its final collections before the mine’s eventual closure.
Comprising 62 loose diamonds, weighing 57.23 carats, this year’s Tender also includes additional Petite Suites - 12 sets of small pink, red, blue and violet diamonds, collected over the past five years and weighing 13.90 carats.
Within the loose stones, there are six hero diamonds including the Argyle Eternity – weighing 2.24 carats, it is the largest fancy vivid round brilliant diamond ever offered at the Tender, and the sixth largest Fancy Vivid diamond of any shape.
Arnaud Soirat, chief executive Rio Tinto Copper & Diamonds commented that “Rio Tinto’s Argyle Mine is the first and only ongoing source of rare pink, red and violet diamonds in the world. We have seen, and continue to see, strong demand for these highly coveted diamonds, which together with extremely limited global supply, supports the significant value appreciation for Argyle pink diamonds”
Amma Asset Management currently holds one Argyle diamond, a 1.14 carat Fancy Red, Rectangular Brilliant shaped diamond.
The Argyle Pink Diamonds Tender 2020 Heroes
Courtesy Argyle Pink Diamonds, Rio Tinto
Internally Flawless 7.16 ct Fancy Intense Blue Diamond Sells For Over $3.8m
Christie’s New York, Magnificent Jewels auction on July 29, saw two impressive fancy coloured diamonds centre stage including an internally flawless 7.16 carat fancy intense blue pear modified brilliant-cut diamond ring, which sold for $3,855,000, and a 7.65 carat VS2 fancy light purplish pink pear modified brilliant-cut diamond ring, which after some spirited bidding sold for $819,000, well above its high estimate.
Several other gemstones achieved notable prices, including a sapphire ring of 53.48 carats, which sold for $615,000 and a sapphire and diamond necklace that sold for $325,000.
Courtesy Christies
Internally Flawless Fancy Intense Blue to Lead at Christie’s New York
Christie’s New York is to host their Magnificent Jewels auction on the 29th July at the Rockefeller Center.
Centre stage will be a 7.16 carat Fancy Intense Blue Internally Flawless, Pear-shaped Diamond Ring with an estimate of $3.5 - 5 million.
In addition to a number of yellow diamonds is an unheated and untreated 8.54 carat Kashmir Sapphire
The sale along with another in London are Christie’s first live jewellery auctions to take place since the start of the global pandemic. The inclusion of such a significant piece, with an estimate akin to the pre-pandemic prices, is extremely encouraging for investors of fancy coloured diamonds.
A blue diamond ring to lead Christie's sale of magnificent jewels in New York on July 29.
Courtesy of Christie's
Fancy Vivid Blue Leads At Christies Geneva Auction
Today, top lot at Christie’s Geneva Magnificent Jewels auction was an internally flawless 5.34-carat fancy vivid blue modified brilliant-cut diamond and white diamond ring. Estimated at between $8.5 and 12.8m, the ring sold for $9,334,394.
Also of note were three Kashmir Sapphires and four Burmese Rubies which all either met the estimate given or in some cases more than doubled the top estimate given. This is very promising for Amma Asset Management, which intends to launch its fifth fund in 2020 with the inclusion of Royal Blue colour Kashmir Sapphires and Pigeon Blood colour Burmese Rubies to the already impressive assortment of fancy coloured diamonds.
Fancy coloured diamonds remain strong during economic downturn
On the 10th July 2020, during one the first live auctions to be held by Sotheby’s Hong Kong, since the lifting of lockdown, a 4.49 carat fancy vivid pink heart-shaped diamond ring and a 5.04 carat fancy vivid blue heart-shaped diamond ring sold for a combined $18.6 million.
The vivid pink was internally flawless, set on a white gold ring and flanked by two pear-shaped diamonds and achieved more than $8.1m.
The vivid blue diamond with VS2 clarity, mounted on a platinum ring and flanked by two pear-shaped diamonds achieved more than $10.5m.
Also sold at the auction were several other, but less important, fancy coloured diamonds from yellows, through to pinks, blues and greens.
The auction represents the first significant sales of fancy coloured diamonds since the start of the Covid-19 pandemic at the beginning of 2020. The positive results are not only encouraging but also confirm the class’s ability to remain strong during economic downturns.
