The Perfect Pear Sells Privately, Not at Auction
Posted Apr 11th 2008 6:02PM by Rigel Gregg
Filed under: Auctions
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72.22 carat "Perfect Pear" diamond was withdrawn from the Sotheby's Hong Kong auction on April 10th after the final bid failed to reach the reserve price.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
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Reader Comments (Page 1 of 1)
4-12-2008 @ 6:50AM
Mark Knowles, Luxury Property said...
You would think some one with $13 million to spend on a rock would know how to exchange dollars :)
http://blog.luxuryproperty.com/blog/
Reply