Aurora Green Diamond Sells For Record Breaking $16.8 Million

The 5.03-carat “Aurora Green” diamond set two world auction records for a green diamond Tuesday at Christie’s Hong Kong Magnificent Jewels sale, selling for more than $16.8 million.

The rectangular-cut fancy vivid green diamond sold for more than $3.3 million per carat.

The green diamond, with VS2 clarity mounted on a gold ring surrounded by circular-cut pink diamonds, was purchased by Hong Kong-based Chow Tai Fook Jewellery, one of the largest jewelry retailers in the world. Its price was at the low end of its estimate.

The diamond shattered the previous records for a green diamond, which was set earlier this month for “The Ocean Dream,” a 5.5-carat fancy vivid blue-green diamond that sold for $8.6 million ($1.5 million per carat).

The Aurora Green was the top lot of the sale and one of four lots that set world auction records. The sale totaled more than $85 million with 10 lots exceeding more than $1 million. Colored diamonds, colored gems and jadeite were among the top lots. A total of 72 percent of items were sold by lot and 73 percent by value.

The sale attracted 197 buyers from 19 countries across five continents.

The three other items that set auction records are as follows:

* Burmese oval-shaped ruby ear pendants of 10.02 and 9.09 carets by Etcetera sold for $11.6 million ($607,053 per caret), a world auction record for a pair of ruby earrings.

* An Art Deco sapphire and diamond bracelet by Cartier sold for $7.2 million, a world auction record for a bracelet.

* A multi-gem pendant necklace by Wallace Chan sold for $967,164, a world auction record for a jewel by Wallace Chan.

By Anthony DeMarco founder of the Jewelry News Network blog.