A colored diamond ring. Set with a cut-cornered modified square-cut fancy yellow diamond, weighing approximately 26.18 carats, flanked on either side by four baguette-cut diamonds, mounted in gold and platinum. With report 1142960186 dated 22 August 2012 from the Gemological Institute of America stating that the diamond is fancy yellow, natural color, internally flawless clarity. Estimate: $450,000 - $650,000. Price Realized: $602,500. Photo: Christie's Images Ltd 2012.

Christie’s New York saw a stellar finale to its fall auction season on December 10, with a blockbuster 300-lot sale of Magnificent Jewels at its flagship Rockefeller Plaza saleroom. The day-long sale realized a total of US$32,541,625 (£20,175,808/ €25,057,051) with strong sell-through rates of 84% by lot and 86% by value. This sale result, combined with robust results achieved for Christie’s New York jewels auctions in April, June and October, brings the 2012 New York jewelry auction total to over US$163 million.* 

A magnificent diamond ring, by Graff. Photo: Christie's Images Ltd 2012.

The top lot of the December 10 sale was a rectangular-cut, D-color, potentially flawless diamond ring of 50.01 carats by Graff. Estimated at $7-10 million, the ring fetched US$8,370,500 (£5,189,710/ €6,445,285) or US$167,400 per carat. The buyer of the stone was Laurence Graff. 

With report 8742923 dated 24 October 2012 from the Gemological Institute of America stating that the diamond is D color, VVS2 clarity; accompanied by a working diagram indicating that the clarity may be potentially internally flawless

Accompanied by a supplemental letter stating that the diamond has been determined to be a Type IIa diamond. Type IIa diamonds are the most chemically pure type of diamond and often have exceptional optical transparency. Type IIa diamonds were first identified as originating from India (particularly from the Golconda region) but have since been recovered in all major diamond-producing regions of the world. Among famous gem diamonds, the 530.20 carat Cullinan and the 105.60 carat Koh-i-noor, are examples of Type IIa

“This is the third time that I have owned this beautiful diamond and I am as thrilled today as I was the first time. Diamonds of this exceptional caliber have a life and legacy that carries on beyond us all,” noted Mr. Graff after the sale. “This is one of the finest D-color diamonds in the world and I am delighted to have it back again.” 

A fine sapphire and diamond ring, by Tiffany & Co. Photo: Christie's Images Ltd 2012

Earlier in the sale, Christie’s realized a new per-carat record for a Kashmir sapphire at auction, with the sale of a superb 8.91 carat sapphire flanked on either side by a bullet-cut diamond, mounted in platinum for US$1,370,500 (£849,710/€1,055,285) or US$154,000 per carat. 

With report CS 51857 dated 18 October 2012 from the American Gemological Laboratories stating that it is the opinion of the Laboratory that the origin of the sapphire would be classified as Kashmir. No gemological evidence of heat

With report 12105051 dated 29 October 2012 from the Gübelin Gem Lab stating that gemmological testing revealed characteristics consistent with those of sapphires originating from Kashmir. No indications of heating; accompanied by a supplemental appendix attesting to the rarity of the sapphire

An unmonted circular-cut colored diamond. Photo: Christie's Images Ltd 2012

The final lot of the season was an exceedingly rare fancy reddish-orange diamond of 3.15 carats. The unique stone is the largest reddish orange diamond ever graded at the Gemological Institute of America (GIA). Estimate $700,000 - $1,200,000. Price Realized $2,098,500.

With report 2145320178 dated 8 February 2012 from the Gemological Institute of America stating that the diamond is fancy reddish orange, natural color, SI2 clarity, with excellent polish and excellent symmetry

Accompanied by a letter from the Gemological Institute of America stating that the diamond is the largest fancy reddish orange, natural color diamond to be graded at the Gemological Institute of America as of the date of the report

Exhibiting two of the rarest hues in the world of diamonds, this rarity soared beyond its low estimate of $700,000 to sell for US$2,098,500 (£1,301,070/ €1,615,845), setting a new world auction record for a reddish-orange diamond and a new per-carat record price of US$666,200.