An exceptional pear-shaped, 75 carat white diamond brought $14.2m to Sotheby's New York yesterday (April 18), becoming the most valuable white diamond ever to sell at a New York auction.
The magnificent jewel was estimated to be worth $9m-12m; however a flurry of bids saw the gem soar past its top estimate, selling to an anonymous bidder with an 18% increase.
Sales at the jewellery auction totalled $53.5m, with a white platinum and diamond ring bringing $3.2m and a platinum, emerald and diamond brooch selling for $2.9m.
Perhaps the most eye-catching piece on offer was a Cartier "Tutti Frutti" bracelet comprised of coloured, stones, diamonds and pearls. The colourful piece achieved $1.4m - a remarkable 189% increase on its $500,000 top estimate.
April has been a big month for big diamonds: one of the largest diamonds ever seen, the pink "Princie", sold at Christie's New York on April 16 for $39.9m - a new world record for a pink diamond at auction.
Another important white diamond is to grace the auction block in May. The largest D-colour flawless diamond ever to auction is to sell in Geneva. It is thought to be worth in excess of $20m.
The current auction record for a white diamond at auction is held by the 76 carat Archduke Joseph Diamond which sold for $21.5m at Christie's in November last year.
Considering investing in fine jewellery? See Paul Fraser Collectibles' free guide to capitalising on the market.
Sign up for our weekly newsletter.