Large Diamond Sales at Auction
Recently we assisted a client in liquidation of two larger diamonds. One was an Old Mine Cut (OMC) weighing 4.19 carats with fine color and clarity. If you look at the photo below, you can see the diamond has a squarish outline, and what appears to be a black spot in the center. The outline indicates that the diamond is probably very old, prior to 1880s. The black spot is an optical illusion, simply the point at the bottom, the culet, flattened. Back then, they thought that a point, common today, would chip or be damaged.
We convinced the client to have the diamond graded by the Gemological Institute of America (GIA) in New York. It provided third party verification of the diamond quality, which came back as H color and VS1 clarity. It is typically seen that these OMC diamonds were yellowish, maybe J color or lower, sometimes all the way to P as you can see in the Diamond Color Box below.
We were thrilled when our client’s diamond ring sold at auction for $43,750!
Their second item was a pendant with a 3.42 carat OMC fancy yellow diamond graded by GIA. This diamond had been reset at some point in recent times, but even so, the diamond pendant sold at auction for $15,000.
We would be happy to help you sell your unwanted jewelry of any period, quality or size. There is no cost for an evaluation, during which we can discuss your timing and the best place to offer your items.
For these two recent auction items, we used a New York auction house, but we work with other auction houses, along with fine jewelers, estate buyers, diamond dealers and Polygon, a website that connects vetted professionals with each other to buy and sell.
For more information about our Gem and Jewelry Brokerage service, please visit our website. https://www.peterindorf.com/buying-brokerage/