Duo of yellow diamonds hit auction market

  • September 06, 2011 13:16

  • Email
Christie's Oct. 18 sale in New York includes The Vivid Yellow, a pear-shaped fancy vivid yellow diamond of 32.77cts. Estimate: US$ 6,000,000-8,000,000.
Christie's International

UPDATE 9/8/2011: The "Golden Eye" diamond fetched a final bid price of $2,843,623 which met the reserve.


Two spectacular yellow diamonds are set to sparkle at auctions this fall. One fits the best in class category, the other has a sordid past.

First is a rare "vivid fancy" pear-shaped gem of 32.77 carats, expected to fetch up to $8 million at a Christie's auction in New York on Oct 18. The second is an "internally flawless" 43.51-carat stone — known as the "Golden Eye" — that is now part of a government seizure auction online through Thursday.

Investors, especially in Asia, are increasingly turning to diamonds as a hard (and shiny) asset other than gold. According to a Financial Times article last week, the value of top quality polished diamonds of 5 carats have risen to about $150,000 a carat, up from about $100,000-$120,000 a year ago.

Unless a gem bubble lurks, the prospects are good that these beauties will be bid to high amounts based on current market demand and the so-called four Cs of diamond grading: cut, clarity, color, and carat weight.

The piece to beat may be The Golden Drop, a pear-shaped yellow diamond of 18.49 carats, that achieved a per-carat price of $203,000 when it sold in June 1990 at Christie’s London.

Christie's offering this October is an extraordinarily vivid yellow diamond, blessed with a far deeper hue than the common yellow, and ranked by the Gemological Institute of America (GIA) as one of the rarest and most highly saturated colored stones in its class.

Only about one in 10 million diamonds possesses a color pure enough to qualify as fancy vivid.

Rahul Kadakia, Christie’s Head of Jewelry for Christie’s Americas, explained, In the world of diamonds, a naturally colored stone of this incredible color and size represents a freak occurrence -- an extremely rare geological phenomenon."

Of a less satuarated yellow, the "fancy intense" diamond seized by the government came from an Ohio businessman who was convicted of money laundering and conspiracy. Prosecutors said he tried to sell the diamond and an estate once owned by boxer Mike Tyson to an undercover FBI agent, for $19.5 million and a boat, according to the AP.

This 43.51 Carat Fancy Intense Yellow Internally Flawless Diamond is offered in a government-seizure auction by Bid4Assets.com for the US Marshals through Thursday.

Maryland-based Bid4Assets is auctioning the "Golden Eye" diamond for the U.S. Marshals Service. Bidding went to $1.52 million by Tuesday evening and ends on Thursday.


  • Email

More News Feed Headlines

Women Suffrage Pickets at the White House, 1917.  Harris & Ewing Photograph Collection, Library of Congress.

ARTFIXdaily Will Be Closed Week of Sept. 20

  • ArtfixDaily / September 20th, 2020

ARTFIXdaily will be closed the week of Sept. 20 and subscriber e-newsletter service will return on Sept. 28. The ...

The Fox River is in clear view from the Farnsworth House in Plano, Illinois.  Photo © Carol Highsmith

5 Awesome Open-Air Art Settings to Stroll Outdoors or Online This Fall

  • ArtfixDaily / September 13th, 2020

Local fall foliage viewing and art getaways in the fresh air have added attraction during the pandemic. With the ...

Rodney McMillian, Untitled (The Supreme Court Painting), 2004–06, Acrylic on canvas, 216 x 216 inches.  Courtesy of the artist and Vielmetter Los Angeles.  © 2020 the artist.  Photo: Gene Ogami.

'States of Mind: Art and American Democracy' to Open at The Moody in Houston

  • ArtfixDaily / September 17th, 2020

The Moody Center for the Arts at Rice University in Houston will be reopening its galleries on September 19 with the ...

Francis Bacon works at Marlborough Gallery booth, Art Basel, 2011.

Art Dealer Sues Marlborough Gallery For $10.8 Million Over Alleged 'Scheme'

  • ARTnews / September 16th, 2020

Art dealer Max Levai is seeking at least $10.8 million in damages from his former employer. Levai sued Marlborough ...


Related Press Releases

ARTFIXdaily Artwire