The Christie's - New York Jewels auction held on 7 December, 2010, was further evidence of the strength in the market for quality colored diamonds.

The revenues of USD22,140,350 and 83% clearance rate of the 212 lots for sale, contributed to a Christie’s – New York record of USD131 million of jewelry sales for the 2010 year - the highest total ever for the U.S. jewelry auction market.

Undoubtedly, the star of the show was a 6.89 carat rectangular-cut fancy vivid purple-pink diamond. The stone was the top lot, selling for USD6,914,500 or USD1 million per carat.

This follows the recent sale of “The Perfect Pink” at Christie’s - Hong Kong sale on 29 November for a record-breaking USD23.1 million.

To put this into perspective, this one lot, representing less than half of one percent of the lots for sale, contributed in excess of 31% of total sale proceeds.

Of the remaining top ten lots, six were diamond rings, two of colored diamonds. They comprised a 10.91 carats pear-shaped fancy intense pinkish-orange diamond ring  which sold for USD2,378,500 or USD218,000 per carat;

and a modified rectangular-cut fancy purple-pink diamond ring of 7.30 carats by Taffin which sold for $902,500 or USD123,630 per carat.

Not to be outdone, Sotheby’s - New York sale of Magnificent Jewels held on 9 December, 2010, realized a total of USD53,228,590 for 452 lots – a record total for a Sotheby’s jewelry sale in New York.

Once again fancy colored diamonds dominated the highest selling pieces with the second highest selling lot being a 54.20 carat fancy vivid yellow, VS1 diamond ring which sold for USD2,322,500 or USD42,850 per carat to the international trade.

The third highest selling lot was a 10.46 carat fancy light pink,Oval shape, internally flawless, type IIa, Golconda diamond, which sold for USD2,266,500 or USD217,500 per carat, easily exceeding its median estimate of USD1.5 million.

If legendary stock investor and advisor to U.S. presidents, Bernard M. Baruch, were alive today, instead of expounding that "Fundamentals in a stock is like character in an individual – it can be relied upon in times of adversity", perhaps he would quote the following: "A quality colored diamond is like character in an individual – in times of adversity, it shines".

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