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‘Incredibly Rare’ Blue Diamond Sells for $6.7M, Sets Price Record

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It’s a 3.47-carat fancy intense blue diamond.

An “incredibly rare” 3.47-carat fancy intense blue diamond ring has sold for $6.7 million, Sotheby’s announced.INVISION BlueDiamond 300

The sale took place at the Magnificent Jewels auction held in New York. It set “a new world auction record price-per-carat for any Fancy Intense Blue diamond ($1,920,259 per-carat),” according to a press release.

Sotheby’s three spring jewelry auctions concluded with a combined total of $34 million and 83.3 percent of all lots sold.

“Our results affirm that the auction market continues to flex its strength in top-quality diamonds, important gemstones and jewels with distinguished provenance,” said Gary Schuler, chairman of Sotheby’s Jewelry Division, Americas. “We are proud to continue the long line of exceptional blue diamonds at Sotheby’s, with the sale of the Fancy Intense Blue diamond, that soared to $6.7 million after competition from three bidders.”

The diamond had been expected to sell for between $2 million and $2.5 million.

 

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Orin Mazzoni, Jr., the owner of Orin Jewelers in Garden City and Northville, Michigan, decided it was time to downsize. With two locations and an eye on the future, Mazzoni asked Wilkerson to take the lead on closing the Garden City store. Mazzoni met Wilkerson’s Rick Hayes some years back, he says, and once he made up his mind to consolidate, he and Hayes “set up a timeline” for the sale. Despite the pandemic, Mazzoni says the everything went smoothly. “Many days, we had lines of people waiting to get in,” he says, adding that Wilkerson’s professionalism made it all worthwhile. “Whenever you do an event like this, you think, ‘I’ve been doing this my whole life. Do I really need to pay someone to do it for me?’ But then I realized, these guys are the pros and we need to move forward with them.”

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