Pre-Auction Analysis: June 8th, 2021, Christie’s New York, Magnificent Jewels

As most of the industry has been prevented from traveling to New York during this challenging period, this Auction Analysis could help those who would like to bid without physically inspecting the goods.                                                 

Our Christie’s New York Pre-Auction Analysis focuses on elements that are hidden from the unprofessional eye. We will describe the important visual elements for those who cannot attend the preview and discuss characteristics such as: Undertone, Color Dispersion, and Inner-Grade (UDI; a detailed explanation appears at the bottom of this article). We analyze and grade Fancy Color Diamonds relative to their GIA grade.

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, pass the industry threshold and can be traded easily. Fancy Color Diamonds that are graded 10 or above, (without a quality remark) are usually sought after by high-end jewelry brands, 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 12 pro, no filters were applied.
• All auction valuations are per carat and in US Dollars.

Lot #68

204.36 carats, Fancy Intense Yellow, Cushion, VVS2 

High catalog estimation: $26,913 per carat

Price realized: $24,221 pc

An extremely large Fancy intense yellow cushion cut diamond. Looking at the way in which  it was cut and polished, we can assume the owners decided to intentionally keep it over 200 carats at the expense of its proportions. The combination of a 72% depth and the Extremely Thick girdle, results in a very small face-up view in relation to its weight. The Strong Blue fluorescence is prominent, and  affects the translucency of the crystal, creating an overall “cloudiness.” The color dispersion is good when looking straight at the face-up, however, as it is a “thick” stone, tilting it slightly, reveals several  colorless patches.       

Visual Assets

Total Visual Score 8 out of 12

To review the GIA Report of 204.36 ct, FIY, CU, VVS2 Click here 

Lot #102

2.52 carats, Fancy Vivid Blue, Pear, IF

A similar diamond enters the market once every… Check Rarity Here 

High catalog estimation: $3,500,000 Total

Price realized: $2,910,000 Total

A Fancy Vivid Blue Pear Shape with a very low Inner-Grade, bordering on an “Intense” saturation. It was polished in a nontraditional maner, making step cut facets on the pavilion, and as such received the mixed cut description in the GIA report. Minor colorless patches surrounding the face-up view and the minor presence of a gray undertone.

Visual Assets

Total Visual Score 7 out of 12

To review the GIA Report of 2.52ct,FVB, Ps, IF Click here 

Lot #80

10.18 carats, Fancy Intense Yellow-Green, Pear, SI1

High catalog estimation: $39,292 per carat

Price realized: $36,836 pc

A relatively large pear-shape diamond for this color combination. According to the GIA report, the hue is composed of ~ 40% yellow and ~ 60% Green, which makes the latter  the body color. The Symmetry is “Fair” and the SI1 clarity is the result of various small blemishes and external features. Green Fancy color diamonds that have a yellow modifier come in a wide variety of undertones (although they have the same color description in the report). The undertone in this color category can impact price dramatically.  

Visual Assets

Total Visual Score 8 out of 12

To review the GIA Report of 10.18 ct, F.I.Y/G, PS, SI1 Click here 

Lot #109

4.10 carats, Fancy Gray-Blue, Emerald, SI2

High catalog estimation: $85,365 per carat

Price realized: $206,341

A square Emerald cut diamond with a ~40% Gray modifier and ~60% Blue hue in the color mix, Blue being the body color. The 55% depth makes the stone appear larger in relation to its weight and the SI2 clarity is a result of several feathers on the crown and table. Although the clarity is SI2  the stone is  “eye clean.” 

Visual Assets

Total Visual Score 8 out of 12

To review the GIA Report of 4.10 ct, F.G/B, EM, SI2 Click here 

Lot #77

2.58 carats, Fancy Intense Purplish Pink, Oval, SI1 

An extremely small number of similar diamonds enter the market yearly… Check Rarity Here 

High catalog estimation: $116,279 per carat

Price realized: $261,627 pc

A 2.58 carat Fancy intense Purplish Pink oval with a pleasant hue resulting from the purple modifier. The fluorescent is Strong Blue and the SI1 clarity results from several twinning wisps under the table.

Visual Assets

Total Visual Score 9 out of 12

To review the GIA Report of 2.58 ct, F.I.P/P, OS, SI1 Click here 

Lot #145

2.04 carats, Fancy Intense Purplish Pink, Pear, VS2 

An extremely small number of similar diamonds enter the market yearly… Check Rarity Here 

High catalog estimation: $147,058 per carat

Price realized: $343,137 pc

A shallow Fancy Intense Purplish Pink Pear-Shape. From the imprecise facet alignment and the open culet, it seems like it was polished early in the last century, resulting in a Fair Symmetry grade and a poor color dispersion. The purple modifier creates a soft and pleasant hue. The 53% depth makes the stone appear larger relative to its weight. 

Visual Assets

Total Visual Score 9 out of 12

To review the GIA Report of 2.04 ct, F.I.P/P, PS, VS2  Click here 

Lot #104

6.86 carats, Fancy Intense Yellow, Radiant, VS1 

An extremely small number of similar diamonds enter the market yearly… Check Rarity Here

High catalog estimation: $17,492 per carat

Didn’t reach the minimum

A 6.86 carat Fancy Intense Yellow Radiant cut with very high visual assets and 60% depth creating a large look relative to its weight. The GIA report is dated 2011. 

Visual Assets

Total Visual Score 12 out of 12

To review the GIA Report of 6.86 ct, F.I.Y, Rad, VS1 Click here 

General

We use 1, 2, 3, 4, and 4+ to grade the three visual elements that GIA is silent about, although they 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 common).

Grade 3 full-bodied color (above average).

Grade 4 very strong saturation.

Grade 4+ applies to 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 that is 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 as to 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 is the result of cutter proficiency.