Sotheby's Geneva Jewelry Auction Sees White Diamonds Shine as Blue Diamond Goes Unsold

Blue Diamond Fails to Find Buyer

The star attraction of Sotheby’s High Jewelry auction in Geneva, a 6.03-carat fancy vivid blue diamond, failed to find a buyer. This internally flawless gem, sourced from South Africa’s Cullinan mine, carried an estimate of $9.2 million to $12.3 million but did not meet its reserve price. Despite this setback, Sotheby’s expressed confidence in finding a new owner for the diamond soon, stating that conversations with interested parties are ongoing.

White Diamonds Take Center Stage

In contrast to the unsold blue diamond, a pair of 18.38-carat, Type IIa, D-color white diamonds from Botswana’s Jwaneng mine emerged as the top lot. These matched diamonds, one flawless and the other internally flawless, sold for $3.3 million to a private international buyer, falling within their pre-sale estimate. This performance signals a resurgence in white diamond sales, with several white diamond jewels exceeding high estimates, a trend noted by Jessica Wyndham, head of high jewelry for Sotheby’s Geneva.

Strong Overall Auction Performance

The Geneva auction achieved robust results overall, with total sales reaching $30.1 million and 93 percent of lots sold. Sotheby’s reported its highest participation in a Geneva jewelry sale in over five years, with an average of more than five bidders per lot. Over 60 percent of the lots sold above their high estimates. Buyers from over 30 countries participated, with significant activity from the U.S., Asia, Europe, and the U.K.

Notable Colored Gemstone Sales

Colored gemstones continued to be favored by collectors. The second-highest grossing lot was a circa 1950 emerald and diamond necklace featuring 13 graduating teardrop-shaped Colombian emeralds, which sold for $2.5 million to a private buyer from Asia, significantly exceeding its $1 million to $2 million estimate. “The Peacock of Ceylon,” a substantial 102.40-carat unmounted sapphire, sold for approximately $2 million, surpassing its estimate. A 4.12-carat fancy pink diamond ring also performed well, fetching $1.5 million from a private Asian buyer.

Signed Jewelry and Vintage Styles Shine

The auction also highlighted a strong demand for signed jewelry, particularly pieces from the 1970s and 1980s. Striking pieces from brands like Bulgari saw significant interest, with many selling well above their high estimates. Examples include an emerald and diamond necklace by Bucherer from 1986, which sold for $1 million. Other notable signed pieces included a Van Cleef & Arpels transformable necklace with a detachable brooch-pendant that sold for over $600,000, and a Bulgari Serpenti wristwatch formerly owned by the wife of Italian entrepreneur Romeo Invernizzi, which achieved over $650,000.

Other High-Value Lots

Rounding out the top five lots was an emerald and diamond necklace featuring step-cut emeralds made by Bucherer in 1986, which sold for $1 million. Additionally, a diamond bracelet centered with a 7.04-carat unheated Kashmir sapphire sold for $622,000.