Pre-Auction Analysis: May 28th 2019, Christie’s Hong Kong, Magnificent Jewels

Our Hong-Kong Pre-Auction Analysis focuses on elements that are hidden from the unprofessional eye. As always, we will describe the important visual elements for those who cannot attend the preview. We will discuss characteristics such as Undertone, Color Dispersion, and Inner-Grade (UDI; a detailed explanation appears at the bottom of this article). When we analyze and grade any Fancy Color Diamond it is always done in relation to its GIA description.

We use grades 1, 2, 3, and 4, 1 being the lowest grade. Grade + is granted in rare cases and stands for stones with an exceptional characteristic. Stones that receive a minimum total UDI score of 8, without a red remark, are considered to be “Gems” and are generally sought after by high-end jewellery, collectors and the investment community.

For your convenience, we have added direct links for the GIA reports.

• All images in this article review were taken with an iPhone 10, no filters were applied.
• All auction valuations are per carat and in US Dollars.

Christie’s,Hong Kong, Magnificent Jewels, May 28th 2019

Lot # 2051

3.44 carat Fancy Vivid Purplish Pink, radiant cut, IF.  MOUSSAIEFF. High catalog estimation: $2,418,256 pc, GIA #1152126470

A vivid Purplish Pink with exceptional visual characteristics that meets our expectations from a pink diamond. The undertone has the right amount of purple in the mix, the color is dispersed all around the face up view and the strength of color is at its maximum level. The ‘Strong Blue’ fluorescence doesn’t have a negative visual effect on this pink diamond, however, some buyers tend to give great importance to gemological features that generate a discount in colorless diamonds, even if they have no negative visual effect on Fancy Color diamonds.

Price Realized: $2,185,170 pc

Total Visual Score: 12 out of 12

Lot # 2043

3.01 carat Fancy Vivid Blue emerald cut, VS1. High catalog estimation: $2,338,534 pc, GIA  #5191488274

A Vivid Blue Emerald cut diamond with solid Inner-grade, very little to none grey undertone in the hue and a good color dispersion for a step cut diamond.  

Price Realized: Withdrawn

Total Visual Score: 9 out of 12

Lot # 2052

8.13 carat Fancy Vivid Yellow, emerald cut, VVS1. High catalog estimation: $138,528 pc, GIA #2193235461

A Vivid Yellow Emerald cut diamond with very good visual characteristics. A solid Inner-Grade favourably affecting the high color dispersion and a subtle and sought after orange undertone in the color mix.

Price Realized: $129,852 pc  

Total Visual Score: 10+ out of 12

Lot # 2011

7.47 carat Fancy Vivid Yellow radiant cut, VVS2. High catalog estimation: $111,362 pc, GIA #6203078134

A square Emerald cut diamond with a solid Inner-Grade and almost no foreign undertone in the color mix. There are some black colorless areas when looking at the stone’s face up view, though they are considered average for a step cut diamond. The depth percentage is quite low (63%) and gives a feeling of a bigger stone.

Price Realized: Didn’t reach the minimum

 Total Visual Score: 9 out of 12

Lot # 2042

3.55 carat Fancy Orangy Pink radiant cut, IF. Cartier. High catalog estimation: $216,307 pc, GIA #2155137633

An Emerald cut diamond with an Orange modifier and a Pink body color. Because the stone was polished according to colorless standards, the color dispersion is not sufficient and the Inner-Grade is weak. Depth percentage is 54%  

We strongly recommend validating the authenticity of any signed piece at auction before attributing a premium to it (allegedly Cartier in this case).

Price Realized: $176,765 pc

Total Visual Score: 7 out of 12

Lot # 2008

7.77 carat Faint Pink, oval cut , IF. High catalog estimation: $92,238 pc, GIA #2191402268

Diamonds graded as ‘Faint Pink’ tend to look close to colorless from face-up view. In this case, the pink gold underneath the stone significantly affects the general appearance of the stone and makes it impossible to analyse the grade of the three visual elements.

  Price Realized: Didn’t reach the minimum

Total Visual Score: n/a

Lot # 1987

11.01 carat Fancy Vivid Yellow, pear shape, VVS2. High catalog estimation: $58,120 pc, GIA #6203140924

According to the facet alignment, we can assume the stone was polished decades ago before the ‘modified cut’ was accepted as a legitimate cut for Fancy Color diamonds, as such, the color dispersion is poor. The Inner-Grade is quite weak for a Vivid, however, the hue of the stone has no foreign undertone and exhibits an absolute yellow color.  

Price Realized: $54,211 pc

 Total Visual Score: 8 out of 12

Lot # 2003

6.57 carat Fancy Intense Yellow radiant cut, IF. Cartier. GIA #11342942

1.86 carat Fancy Vivid Yellow radiant cut, VS1. Cartier. GIA #13331335

High catalog estimation: $ 75,908 pc

A pair of earrings comprised of yellow and white Radiant and Emerald cut diamonds with an opposite design formation. The combination of Radiant and Emerald cut diamonds in the same design is rarely seen in branded high-end jewellery, moreover when the saturations are different (Intense and Vivid in this case).

We strongly recommend validating the authenticity of any signed piece at auction before attributing a premium to it (allegedly Cartier in this case).

Price Realized: Didn’t reach the minimum

6.57

1.86

Total  Visual Score for the 6.57 carat: 8 out of 12

Total  Visual Score for the 1.86 carat: 10 out of 12

Lot # 1976

2.03 carat Fancy Intense Blue pear shape, VVS2. High catalog estimation: $239,571 pc, GIA #2105428211

This Fancy Intense Blue flat Pear shape diamond was already reviewed by the FCRF when it was part of Christie’s Magnificent Jewels on November 27th 2018. The lot did not reach the minimum price on that sale.

Price Realized: Didn’t reach the minimum for the second time

Previous FCRF Analysis:

“Although GIA defines this extremely flat diamond as a “pear shape” it is actually closer to a ‘Rose-cut’. The advantage of having a diamond with 20% depth is that the surface area is very large, which gives the feeling of a larger diamond in comparison to its weight. The disadvantage on the other hand, is a very poor Color Dispersion. In this case, the blue color appears on the contour of the shape, leaving 90% of the diamond’s face up, completely colorless (nothing like the catalog image).  

 Total Quality Score: 6“

Total Visual Score: 6 out of 12

Lot # 2048

1.01 carat Fancy Intense Pink triangular cut , SI1. High catalog estimation: $ 190,126 pc. GIA #12790290

A Fancy Intense pink Triangle shaped diamond with good visual elements, however with a symmetry grade of poor. Buyers should be aware the GIA report is dated 2003.

Price Realized: $ 157,688 pc

Total Visual Score: 11 out of 12

Lot # 2010

2.70 carat Fancy Dark Gray, emerald cut, VS2. High catalog estimation: $ 85,321 pc. GIA #12039898

A Fancy Dark Gray Emerald cut diamond with an overall pleasant look. Under direct sunlight, this diamond could give an impression of a Bluish Gray diamond. The contrast of the pink side stones, reinforces the “blue” optical illusion.

Unfortunately, our grading system is not applicable to Gray diamonds for the following reasons:

Gray color itself acts as an undertone. Black areas with no color, merge with the Gray body color of the stone and a strong Inner-Grade is inherent in a dark Gray diamonds.    

Price Realized: $76,679 pc

 Total Visual Score: N/A

Lot # 1985

3.65 carat Fancy Vivid Yellow round cut, VS2. High catalog estimation: $ 52,610 pc. GIA #6197494579

A Round Vivid Yellow brilliant with relatively low Inner-Grade. The yellow body color has a noticeable warm undertone. The Color is dispersed well with very few colorless patches.

Price Realized: Didn’t reach the minimum

Total Visual Score: 7 out of 12

Lot # 2044

10.43 carat Fancy Intense Yellow radiant cut, VS2. High catalog estimation: $ 14,728 pc. GIA #2185144513

A Fancy Intense Yellow mixed cut Radiant with a ‘Step-Cut’ crown and a starburst facet alignment pavilion. The color dispersion is high although the Inner-Grade is low, the undertone is average.

This diamond enjoys a low depth percentage, a feature that gives an optical illusion of the stone being bigger than its actual weight.

Price Realized: $17,560 pc

Total Visual Score: 9 out of 12

General

We use 1, 2, 3, 4, and 4+ to grade the three visual elements that GIA is silent about, however, impact the value dramatically.

Inner-Grade refers to the strength of color within each GIA saturation category:

Grade 1 weakest, bordering the saturation below.

Grade 2 weak (most abounded).

Grade 3 full-bodied color (above average).

Grade 4 very strong saturation.

Grade 4+ applies for the vivid category only, exhibiting the strongest possible saturation (rarely seen).

Undertone refers to a subtle hue influence in the body color of the stone.

For example:

A Fancy Blue Diamond with a significant gray presence in its general appearance will be graded with a low undertone grade of 1. A Fancy Blue that has no gray influence and will be close to a primary blue will receive the grade, 4.

In a Pink Fancy Color Diamond, a stone with a warm undertone (such as orange or brown) will receive a low undertone grade. A pink stone with a cold undertone (such as purple) will receive a high grade.

In Yellow Fancy Color Diamonds, low foreign influence or a light orange influence will grant the stone a high undertone grade. When the yellow undertone looks like a true primary yellow, it will receive the rare grade 4+. Green and brown undertones will grant a low grade in the yellow category.

Color Dispersion relates to how well the color is dispersed in the face-up view of a Fancy Color Diamond, regardless whether the GIA grades the stone as even. A stone with many colorless areas will receive the grade 1, while a stone that exhibits its face-up view with no colorless patches will receive the grade 4+. Unlike the first two elements, the color dispersion is not a gemological quality and has only to do with cutter proficiency.