The 2024 Bonhams Autumn Jewelry Auction presented a total of 160 exquisite jewelry pieces, featuring top-tier colored gemstones, rare fancy diamonds, high-quality jadeite, and masterpieces from renowned jewelry houses like Bulgari, Cartier, and David Webb.
Among the standout items was a leading piece: a 30.10-carat natural light pink round diamond that fetched an astounding HKD 20.42 million, leaving audiences in awe. Another remarkable piece was a 126.25-carat Paraiba tourmaline and diamond necklace by Kat Florence, which sold for nearly 2.8 times its lower estimate at HKD 4.2 million, delivering a stellar performance.
Top 1: 30.10-Carat Very Light Pink Diamond
The undisputed top lot of the season was a 30.10-carat natural light pink round diamond, achieving a hammer price of HKD 20,419,000.
Pink diamonds have long been one of the rarest diamond colors on the market. Their unique coloration is caused by distortions or twists in the crystal lattice of the diamond’s carbon atoms. Of all the diamonds mined globally each year, only about 0.001% are natural pink diamonds, making large, high-quality pink diamonds extraordinarily valuable.
The color saturation of a pink diamond significantly impacts its value. In the absence of secondary hues, a deeper pink tone results in higher pricing. According to the GIA’s color grading standards for fancy-colored diamonds, the color intensity of natural pink diamonds is graded as follows, from lightest to most intense:
- Faint
- Very Light
- Light
- Fancy Light
- Fancy
- Fancy Intense
- Fancy Vivid
- Fancy Deep
- Fancy Dark
Over 90% of the world’s natural pink diamonds come from the Argyle mine in Western Australia, with an average weight of just 1 carat. The mine produces approximately 50 carats of pink diamonds annually, accounting for a mere 0.0001% of global diamond production.
However, due to geographic, climatic, and technical challenges, the Argyle mine ceased operations entirely in 2020. This marked the end of pink diamond mining and signaled an era where pink diamonds will become even rarer. Consequently, high-quality Argyle pink diamonds are regarded as some of the most coveted and valuable gems, often appearing only at auctions.
Although this pink diamond is graded as “Light” rather than the highest intensity grade, “Fancy Vivid,” its astounding weight of 30.10 carats makes it exceptionally rare.
Certified by GIA, this diamond boasts VVS2 clarity and belongs to the chemically pure "Type IIa" diamond category, indicating little to no nitrogen impurities. Such purity and transparency far surpass those of most diamonds.
The round brilliant cut also played a crucial role in achieving the diamond’s record-breaking price. While this classic cut is common for diamonds, it results in the highest rough material loss among all diamond cuts, making it about 30% more expensive than other shapes.
To maximize carat weight and profitability, fancy-colored diamonds are typically cut into rectangular or cushion shapes. Weight is often the most critical factor influencing a diamond’s value in the jewelry market.
This makes round fancy-colored diamonds, which incur greater material loss during cutting, a rarity in both the jewelry market and at auctions.
This 30.10-carat pink diamond from Bonhams' Autumn Auction stands out not only for its size and clarity but also for its rare round cut, which adds an enchanting allure. With a pre-auction estimate of HKD 12,000,000–18,000,000, the final hammer price of HKD 20,419,000 far exceeded expectations, dominating the auction results.
Top 2: Kat Florence Paraiba Tourmaline and Diamond Necklace
The second-highest selling piece was a Paraiba tourmaline and diamond necklace by Canadian jewelry designer Kat Florence, achieving HKD 4,195,000. It outshone iconic colored gemstones from Sri Lankan sapphires and Burmese rubies to Colombian emeralds.
The Paraiba tourmaline is the crown jewel of the tourmaline family, first discovered in Brazil in 1987. Since 2001, deposits have also been found in Africa, including Nigeria and Mozambique.
Paraiba tourmalines are exceptionally rare, with stones over 5 carats considered almost unattainable, making them highly sought after by collectors.
This necklace, designed by Kat Florence, features a centerpiece—a magnificent 126.25-carat Paraiba tourmaline from Mozambique. Untreated by heat, the gem boasts a natural neon green-blue hue. Surrounding the centerpiece are smaller round diamonds totaling approximately 16.28 carats. The necklace’s dazzling design showcases a perfect blend of artistry and luxury.
Top 3: Fancy Colored Diamond Three-Stone Ring
This stunning three-stone ring features a 2.27-carat fancy pink diamond, a 2.25-carat fancy yellow-green diamond, and a 2.08-carat deep yellow diamond. The striking combination of pink, yellow, and green hues, coupled with a classic three-stone design, helped it stand out, achieving a final price of HKD 2,544,000.
Diamonds are an unmissable highlight at auctions, especially vividly colored diamonds, which continue to captivate collectors and break records.
At the 2024 Bonhams Autumn Auction’s “Hong Kong Jewels and Jadeite” session, 25 diamond lots were offered, with 21 sold and 4 unsold. In addition to the top-selling 30.10-carat natural light pink round diamond and the third-ranked fancy-colored diamond three-stone ring, many other diamond lots delivered impressive results.
Post time: Dec-16-2024