This week, Sotheby’s held their fourth auction dedicated to the sale of noble jewels in Geneva. The sale broke a world record when an extremely rare, Natural Fancy colored diamond ring was sold for $8,034,503 million. The award was received when the diamond set a new record for selling the most amount of money per carat.

The natural fancy intense colored 7.64-carat cushion shaped diamond set in yellow gold and platinum, was only estimated to sell for $4-6 million. An anonymous buyer beat out two other competitive clients by out-bidding them for a staggering $1,051,636 per carat. Sotheby’s expressed their enthusiasm by stating that the sale was the “standout moment of the day”.

In 2009, Sotheby’s held the world record with a $796,178 per carat for a 3.17 blue diamond. However, this particular ring was so coveted because it is the largest cushion shaped stone of this color grading ever to appear at auction. The ring was graded as a “Fancy Intense Blue, Natural Color VVS2 clarity and it comes with a GIA worksheet slating that the diamond may be potentially flawless after re-polishing.” This is an incredible accomplishment considering there are almost no diamonds in the world that come close to nearly flawless.

Overall, the Sotheby’s spring auction brought in $53.98 million – surpassing Sotheby’s original prediction of $32.4 million to $46 million. More that 74% of their merchandise was sold above asking price, which was another unexpected yet welcomed surprise to the famous auction house.

[Sotheby's]