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Blue Diamond Owned 300 Years Ago by Queen of Spain Sells for $6.7M

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It was auctioned at Sotheby’s Geneva.

A 6.16-carat blue diamond owned more than 300 years ago by Elisabeth Farnese, Queen of Spain, fetched $6.7 million at Sotheby’s Geneva. The winning bid crushed the auction house’s pre-sale high estimate by more than $1.7 million.

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A blue diamond long held by royal family members sold for $6.7 million. 

The historic “Farnese Blue” was originally presented in 1715 as a wedding gift to the Spanish Queen by the governor of the Philippine Islands.

Secreted away in a royal jewelry box, the pear-shaped, fancy dark grey-blue diamond traveled across Europe for centuries as the Queen’s descendants married into Europe’s most important dynasties.

For 300 years, the gem would stay in the same family, but would never be seen in public. In fact, except for close relatives and the family jewelers, no one knew of its existence.

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Recently, the diamond emerged on the market for the first time and was highly touted by Sotheby’s in the run-up to the Geneva auction. In fact, the Farnese Blue headlined a promotional tour that made stops in Hong Kong, London, New York, Singapore, Taipei and Geneva.

As the final lot of yesterday’s auction, the Farnese Blue didn’t disappoint. Bidding started on Lot 377 at $3.6 million and advanced rapidly in $100,000 increments. After four minutes, the final price of $6.7 million had beaten the pre-sale high estimate by more than 34 percent.

The Farnese Blue was the most historic lot of the auction, but was not the highest priced.

Two magnificent diamonds, each weighing more than 50 carats, were the auction’s top performers.

Lot 373 featured a round, brilliant-cut diamond weighing 51.71 carats. Set in a ring, the D-color diamond boasts the highly coveted Type IIa purity grade and flawless clarity. The ring sold for $9.2 million, just slightly more than its pre-sale high estimate of $9.1 million.

An oval diamond weighing 50.39 carats highlighted the highly anticipated Lot 350. This diamond also carried a D-flawless grade and a Type IIa purity classification. The diamond ring, which went into the auction with a pre-sale estimate of $6.9 million to $7.6 million, sold for $8.1 million.

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This story is an INSTORE Online extra.


HOWARD COHEN is the Shoreham, NY-based editor of The Jeweler Blog, a daily blog ghost-written for retail jewelers. Cohen, a long-time industry veteran, is dedicated to making social media tasks simple and affordable for every jeweler. For more information, visit thejewelerblog.com or contact Cohen at 631-821- 8867, [email protected]. Websites: thejewelerblog.comthejewelerblog.wordpress.com.

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Wilkerson Testimonials

If It’s Time to Consolidate, It’s Time to Call Wilkerson

When Tom Moses decided to close one of the two Moses Jewelers stores in western Pennsylvania, it was time to call in the experts. After reviewing two candidates, Moses, a co-owner of the 72 year-old business, decided to go with Wilkerson. The sale went better than expected. Concerned about running it during the pandemic, Moses says it might have helped the sale. “People wanted to get out, so there was pent-up demand,” he says. “Folks were not traveling so there was disposable income, and we don’t recall a single client commenting to us, feeling uncomfortable. It was busy in here!” And perhaps most importantly, Wilkerson was easy to deal with, he says, and Susan, their personal Wilkerson consultant, was knowledgeable, organized and “really good.” Now, the company can focus on their remaining location — without the hassle of carrying over merchandise that either wouldn’t fit or hadn’t sold. “The decision to hire Wilkerson was a good one,” says Moses.

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Blue Diamond Owned 300 Years Ago by Queen of Spain Sells for $6.7M

mm

Published

on

It was auctioned at Sotheby’s Geneva.

A 6.16-carat blue diamond owned more than 300 years ago by Elisabeth Farnese, Queen of Spain, fetched $6.7 million at Sotheby’s Geneva. The winning bid crushed the auction house’s pre-sale high estimate by more than $1.7 million.

INSTORE sothebysreview1

A blue diamond long held by royal family members sold for $6.7 million. 

The historic “Farnese Blue” was originally presented in 1715 as a wedding gift to the Spanish Queen by the governor of the Philippine Islands.

Secreted away in a royal jewelry box, the pear-shaped, fancy dark grey-blue diamond traveled across Europe for centuries as the Queen’s descendants married into Europe’s most important dynasties.

Advertisement

For 300 years, the gem would stay in the same family, but would never be seen in public. In fact, except for close relatives and the family jewelers, no one knew of its existence.

Recently, the diamond emerged on the market for the first time and was highly touted by Sotheby’s in the run-up to the Geneva auction. In fact, the Farnese Blue headlined a promotional tour that made stops in Hong Kong, London, New York, Singapore, Taipei and Geneva.

As the final lot of yesterday’s auction, the Farnese Blue didn’t disappoint. Bidding started on Lot 377 at $3.6 million and advanced rapidly in $100,000 increments. After four minutes, the final price of $6.7 million had beaten the pre-sale high estimate by more than 34 percent.

The Farnese Blue was the most historic lot of the auction, but was not the highest priced.

Two magnificent diamonds, each weighing more than 50 carats, were the auction’s top performers.

Lot 373 featured a round, brilliant-cut diamond weighing 51.71 carats. Set in a ring, the D-color diamond boasts the highly coveted Type IIa purity grade and flawless clarity. The ring sold for $9.2 million, just slightly more than its pre-sale high estimate of $9.1 million.

Advertisement

An oval diamond weighing 50.39 carats highlighted the highly anticipated Lot 350. This diamond also carried a D-flawless grade and a Type IIa purity classification. The diamond ring, which went into the auction with a pre-sale estimate of $6.9 million to $7.6 million, sold for $8.1 million.

This story is an INSTORE Online extra.


HOWARD COHEN is the Shoreham, NY-based editor of The Jeweler Blog, a daily blog ghost-written for retail jewelers. Cohen, a long-time industry veteran, is dedicated to making social media tasks simple and affordable for every jeweler. For more information, visit thejewelerblog.com or contact Cohen at 631-821- 8867, [email protected]. Websites: thejewelerblog.comthejewelerblog.wordpress.com.

Advertisement

SPONSORED VIDEO

Wilkerson Testimonials

If It’s Time to Consolidate, It’s Time to Call Wilkerson

When Tom Moses decided to close one of the two Moses Jewelers stores in western Pennsylvania, it was time to call in the experts. After reviewing two candidates, Moses, a co-owner of the 72 year-old business, decided to go with Wilkerson. The sale went better than expected. Concerned about running it during the pandemic, Moses says it might have helped the sale. “People wanted to get out, so there was pent-up demand,” he says. “Folks were not traveling so there was disposable income, and we don’t recall a single client commenting to us, feeling uncomfortable. It was busy in here!” And perhaps most importantly, Wilkerson was easy to deal with, he says, and Susan, their personal Wilkerson consultant, was knowledgeable, organized and “really good.” Now, the company can focus on their remaining location — without the hassle of carrying over merchandise that either wouldn’t fit or hadn’t sold. “The decision to hire Wilkerson was a good one,” says Moses.

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