It was sold at an auction in Switzerland for about 31 million USD even though the stone was previously appraised for about $15 million. In my opinion, the industry seems to be reaching a new normal with a 25 carat colored stone now selling for a price two times that of its estimated appraised value.
“The auction market got a shot of adrenaline last night, as the Sotheby’s Geneva sale set a world record for any jewelry auction—and capped that with six more world records, almost all for colored stones.” According to DiamondBlogs.com
In total, the auction fetched about 161 million dollars. A nice boost in sales for Sotheby’s (the company in charge of the auction)
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Written by : Brian Granoff