Sotheby’s Magnificent Jewels Sale Sets Record

SOUND THE GAVEL: Sotheby’s New York’s spring Magnificent Jewels sale on Tuesday totaled $65million — a record for the New York arm of the auction house’s jewelry department. The sale was originally expected to fetch around $50 million in total sales. Among the top-grossing lots was a 100.2 carat flawless diamond, which sold for $22.1 million to an anonymous bidder. The perfect D-color diamond is the first flawless diamond over 100 carats to be sold in New York, and represents the largest flawless Emerald-cut diamond to ever sell at auction worldwide. The selling price is the highest ever for a colorless diamond in New York. Sotheby’s reports that the auction is an example of its growing online-bidding usership. The second highest-grossing lot of the day — a 22.3 carat DIF diamond ring for $3.3 million — was sold to an anonymous high-roller who placed their bid over the Web.

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