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Top News of the day from the Jewelers Suite: 3-Carat Blue Diamond Fails To Sell At Sotheby’s Geneva Jewelry Auction.

Written by jewelerssuite

Sotheby’s Part II Magnificent Jewels & Nobel Jewels – Geneva sale, the first live jewelry auction since the novel cornavirus pandemic, did not go as planned. Approximately half of the lots went unsold, including the top lot, a 3.01-carat fancy vivid blue step-cut, diamond with VS1 clarity. The diamond was withdrawn from the sale without explanation, one of two lots that were removed. Its estimate was $4.3 – $6.3 million.

“Many unsold items had estimates that were too high,” said Ioannis Alexandris of Gemolithos, a Munich, Germany firm that deals in antique, vintage and estate jewelry and gemstones. In particular, he said the seven Cartier jewels in the sale were priced above what similar items sold for in 2019. Out of the seven Cartier lots, three failed to sell, three sold within estimates and one sold above its estimate.

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