5-Carat Pink Diamond Fetches $5.7 Million, Natural Pearl Necklace Sets World Auction Record

A 5.29-carat purplish pink diamond sold for more than $5.7 million at Christie’s New York Magnificent Jewels sale Tuesday. The fancy intense gem was the top lot sold at the auction, surpassing its $5 million high estimate and fetching just under $1.1 million per carat.

Natural pearls were also in high demand Tuesday. The second-highest lot of the sale was a four-strand natural colored pearl necklace that sold for nearly $5.1 million, setting a world auction record for a natural colored pearl necklace. 

The necklace comprises four strands of 81, 76, 69 and 63 natural gray and brown pearls, measuring approximately 12.65 to 4.90 mm. The Swiss Gemmological Institute report confirms the authenticity of these saltwater natural pearls that, according to the report, have no indication of artificial color modification.

In addition, a single-strand natural pearl necklace was also among the top 10 lots. Designed as a graduated strand of 46 natural pearls, measuring 6.95 to 11.90 mm, they are joined by a marquise-cut diamond clasp, mounted in platinum, it sold for just over $1 million.

Rahul Kadakia, International head of Christie’s Jewelry, noted that colored diamonds and the jewelry creations of JAR also performed well with “spirited bidding.”

Graff Diamonds had two of its pieces sell among the top 10 lots. A pear-shaped D-color potentially internally flawless diamond pendant of 25.49 carats, was the third highest lot of the sale, fetching more than $3.4 million ($134,000 per carat) (pictured dangling from a diamond necklace); and a cushion-cut D-color potentially internally flawless diamond of 11.03 carats sold for more than $1.3 million ($120,000 per carat).

Whether diamonds or gems, color remains extremely popular on the auction market. Among the top sellers of the auction were a 5.04-carat circular-cut fancy gray-blue diamond that sold for nearly $2.3 million (pictured above); and a 9.40-carat cushion-shaped Burmese ruby that sold for more than $2.1 million, more than double its $1 million high estimate (pictured below).

JAR jewelry continues to command high prices. A pair of emerald, diamond and colored diamond ear clips sold for $845,000, smashing its $350,000 high estimate (below). It was the ninth highest selling lot of the auction.

Christie’s Magnificent Jewels sale totaled more than $41.9 million, with 77 percent sold by lot and 77 percent sold by value.

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