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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]m. Websites: thejewelerblog.comthejewelerblog.wordpress.com.

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When Sales Beat Projections, You Know Wilkerson Did Its Job

There are no crystal balls when it comes to sales projections. But when Thomasville, Georgia jeweler Fran Lewis chose Wilkerson to run the retirement/going-out-of-business sale for Lewis Jewelers and More, she was pleasantly surprised to learn that even Wilkerson could one-up its own sales numbers. “Not only did we meet our goal, but we exceeded the goal that Wilkerson had given us by about 134%,” she says. After more than 40 years in the business, Lewis says she decided a few years ago to “move towards retirement.” And she was impressed by Wilkerson’s tenure in the industry. Overall, she’d recommend the company to anyone else who may be thinking it’s time to hang up their loupe. “As a full package, they’ve done a very good job and I’d definitely recommend Wilkerson.”

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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

When Sales Beat Projections, You Know Wilkerson Did Its Job

There are no crystal balls when it comes to sales projections. But when Thomasville, Georgia jeweler Fran Lewis chose Wilkerson to run the retirement/going-out-of-business sale for Lewis Jewelers and More, she was pleasantly surprised to learn that even Wilkerson could one-up its own sales numbers. “Not only did we meet our goal, but we exceeded the goal that Wilkerson had given us by about 134%,” she says. After more than 40 years in the business, Lewis says she decided a few years ago to “move towards retirement.” And she was impressed by Wilkerson’s tenure in the industry. Overall, she’d recommend the company to anyone else who may be thinking it’s time to hang up their loupe. “As a full package, they’ve done a very good job and I’d definitely recommend Wilkerson.”

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