Christie's "Jewels: The New York Sale" on October 20 had some very strong results including the sale of the "Bulgari Blue," a two-stone diamond ring featuring the largest triangular-shaped fancy vivid blue diamond ever to appear at auction. The ring had an estimate of over $12 million and brought in $15.7 million, making it the top jewel sold at auction in 2010.
The ring was designed by Rome's legendary house of BVLGARI in the 1970s and is being sold by a collector who bought it nearly 40 years ago as a present for his wife after the birth of their first son. it features a triangular-shaped, colorless diamond of 9.87 carats matched with a triangular-shaped Fancy Vivid blue diamond of 10.95 carats which is the largest Fancy Vivid blue diamond of this cut ever to be offered at auction. The collector bought the ring in 1972 for around $1 million. Fancy vivid blue diamonds are among the rarest and most sought-after colored diamonds and only one stone in around 10 million has color that rates this designation. Prices for blue diamonds continue to be strong. At a Sotheby's auction in May in Geneva a 7.64 carat fancy intense blue cushion-shaped diamond mounted in yellow gold and platinum sold to an anonymous client for $8,034,503.
National Jeweler reports that the ring was the sale's grand finale piece and was won by an Asian collector for $15,762,500, with premium after a bidding battle between one client in the room and two clients on the phone.
The 448-lot auction brought in a total of $52.5 million. The sale also included a pair of Imperial Topaz earrings, from the legendary jewelry house JAR (founded by Joel Arthur Rosenthal). Ellen Barkin sold the earrings at auction in 2006 for $710,000. They were estimated to bring in $300,000 to $500,000 but sold for $650,500.