Fancy Colored Diamonds May Set Records at Geneva Sales

CTV News reported that two diamonds, one blue and one pink, may set records when they are sold at major jewel auctions in Geneva. As those watching the market for colored diamonds are well aware, such high prices are becoming a trend.
Describing the blue diamond, the news outlet states:

The Sotheby’s “fancy vivid” blue diamond, which goes under the hammer on Wednesday, has been tipped as a possible world record beater, with the auction house listing its projected sale price at between $35 to $55 million.
The flawless “Blue Moon” stone was discovered in South Africa in January last year, and is the largest cushion-shaped stone in that category ever to appear at auction.
The head of Sotheby’s international jewellery division, David Bennett, has called the Blue Moon “a simply sensational stone of perfect colour and purity.”
Sotheby’s is aiming to beat its own record, set in November 2010 in Geneva, when a 24.78 carat pink diamond sold for $46 million.
Sotheby’s rival Christie’s puts its prized jewel up for sale on Tuesday at the plush Four Seasons des Bergues hotel.

It describes the pink diamond as follows:

The cushion-shaped stone, dubbed “In the Pink”, is estimated to sell for $23 to $28 million, but Kadakia told AFP the price could be even higher.
He noted that the world record price per carat for a pink diamond was set in December 2009 by Christie’s in Hong Kong, when a five carat stone sold for more than $10 million.
If In the Pink, owned by an American family for the past 15 years, matches that per carat mark, it could fetch more than $32 million he said, noting that the jewel has been priced “well below what it is actually worth.”
Christie’s said that only three pink stones classified by the Gemological Institute of America as “fancy” and weighing more than 10 carats have been up for sale in 250 years.

Click here to read the full CTV News report.