The Perfect Pear Sells Privately, Not at Auction

by Rigel Celeste (RSS feed)
Apr 11th 2008 at 6:02PM

The highly anticipated 72.22 carat "Perfect Pear" diamond was withdrawn from the Sotheby's Hong Kong auction on April 10th after the final bid failed to reach the reserve price. Originally the stone was expected to sell for upwards of $13 million but the highest bid maxed out at only $9.4 million. That didn't seem to dampen interest, however, as within just a few hours of the auction closing the stone was sold to a private buyer for an undisclosed amount.

Experts say the bidding prices were likely lower than expected due to confusion over the exchange rate of different currencies. Hm, does that mean they got their $13 million after all? Seems like people spending that much money would have a handle on that kind of thing.

Tags: auction, auctions, diamond, flawless, jewel, jewels, pear, perfect pear, PerfectPear, sothebys