In this article, we have picked out some Lots which are priced extremely low, almost too good to be true if we were to purchase them at the low estimate (even after adding the buyer's premium). Below we have listed these jewellery lots as well as comparative pieces from other auction houses across the years. This provides an idea of what the actual piece may look like as very often, there are discrepancies between the picture and the actual gemstone.
Click here to return to other preliminary reviews this Spring 2020 Auction season.
< 9 July 2020 | 147 Lots Total >
Our Picks < 6 Lots >
1 Ruby
2 Coloured Diamonds
2 Emeralds
1 Sapphire
All our comparisons are based on low auction estimates excluding buyer's premium.
LOT1810 | Ruby Ring BULGARI Estimated (7-8 carats)
RUBY AND DIAMOND RING, BULGARI
Rectangular-cut ruby, circular and baguette-cut diamonds, gold, ring size 6, signed Bvlgari
This lot is offered without a reserve.
This means that the item can be sold at any price bid, even if it runs far below the low estimate.
HK$65,000-95,000 US$8,000-12,000
Our thoughts:
This is ridiculously cheap - even if we assume it to be a Heated Ruby from any locality
Also, we assume that Bulgari would not use diffused treated or fracture-filled Rubies (including H(C))
Lot 1810 which looks to have a 7-8 carats face is priced at US$1,000/ct, this is the price we would already expect for a 2 ct ruby of this picture quality and colour
Most likely the Ruby in real life to be extremely included with a much stronger purplish colour or that this was purposely marked down by Christie's as a promotional item
Hence Lot 1810 may run far beyond the high estimate
LOT1882 | 5.07 carats Fancy Yellow Diamond SI1 Clarity
COLOURED DIAMOND AND DIAMOND RING
Fancy yellow cut-cornered rectangular modified brilliant-cut diamond of 5.07 carats, half-moon and circular-cut diamonds, gold, ring size 6 ¾. GIA, 2020, report no. 6345361049: 5.07 carats, Fancy Yellow colour, SI1 clarity, excellent polish
This lot is offered without a reserve.
US$15,000-23,000
Our thoughts:
This is unusually cheap - even if it only has a 3 carat face up size
US$3000/ct for a 5ct Fancy Yellow SI1
Comparison Diamond : 5.01cts Light Brown VS2
US$5,000/ct for similar specifications with a slight improvement in grade
However, the colour in this is Light Brown which supposed to be much cheaper than a Fancy Yellow colour diamond
Yet, we see a much high price per carat
COLOURED DIAMOND AND DIAMOND RING
US$25,000-38,000
By CHRISTIE'S in the same auction, Hong Kong Magnificent Jewels July 2020
Old mine brilliant-cut diamond of 5.01 carats, circular-cut diamonds, gold, ring size 6
GIA, 2019, report no. 6203567021: 5.01 carats, Y to Z range, Light Brown colour, VS2 clarity.
LOT1887 | 2.01 carats Fancy Pink Diamond VS1 CLARITY
COLOURED DIAMOND AND DIAMOND RING
Fancy pink pear modified brilliant-cut diamond of 2.01 carats, round brilliant-cut diamond of 1.01 carats, tapered baguette-cut diamonds, gold, ring size 4 ¾
GIA, 2000, report no. 11164860: 2.01 carats, Fancy Pink colour, VS1 clarity.
GIA, 1990, report no. 7176090: 1.01 carats, D colour, VVS2 clarity
US$78,000-100,000
Our thoughts:
Subtracting the cost of the round colourless diamond, the pink diamond would come up to be around US$35,000/ct
Usually for diamonds with this specifications, we would expect the whole ring to be valued at US$180,000, more than double the low estimate
At this price point of US$78,000, the pink diamond would likely have a small face up size, yet it should still be worth much more than the low estimate
Comparison Diamond : 2.07 Fancy Pink Diamond IF Clarity
Subtracting the cost of two rectangular colourless diamonds, the pink diamond would come up to be around US$120,000/ct
The only notably difference between these pink diamonds is that the first has a clarity grade of VS1 while this rectangular gem is Internally Flawless
However, it still does not justify the huge price difference from US$35,000/ct to US$120,000/ct
In our opinion, the first pink diamond is undervalued
FANCY PINK DIAMOND AND DIAMOND RING
Estimate: 250,000 - 350,000 USD
By SOTHEBY'S New York Magnificent Jewels Dec 2019
Set with a cut-cornered rectangular modified brilliant-cut Fancy Pink diamond weighing 2.07 carats, flanked by two emerald-cut diamonds weighing 1.09 and 1.07 carats, size 6.
Accompanied by three GIA reports:
No. 1142227968 dated December 21, 2011 stating that the diamond weighing 2.07 carats is Fancy Pink, Natural Color, Internally Flawless.
No. 2176206846 dated April 11, 2014 stating that the diamond weighing 1.09 carats is E color, Internally Flawless, with Excellent Polish and Symmetry.
No. 2166934727 dated February 27, 2014 stating that the diamond weighing 1.07 carats is E color, Internally Flawless, with Excellent Polish and Symmetry.
LOT1896 | 3.66 carats Colombian Emerald No Oil
& Light Pink Diamond IF Clarity Type IIa
EMERALD AND COLOURED DIAMOND RING
Rectangular step-cut emerald of 3.66 carats, light pink rectangular-cut diamond of 2.59 carats, circular-cut diamonds, platinum and gold, ring size 6 ½.
SSEF, 2020, report no. 113048: Colombia, no indications of clarity modification
GIA, 2019, report no. 6335863942: 2.59 carats, Light Pink colour, Internally Flawless clarity, Type IIa
US$48,000-75,000
Our thoughts:
We would expect this Lot to go for US$100,000/ct if it were exact to its picture
The Light Pink Diamond is of Type IIa which are a much rarer type of diamonds, making up only 2% of diamonds found
The Emerald has very good specifications and looks fairly clean without major inclusions
However, at this price range, Lot 1896 is either undervalued or that the Emerald may look very pale in colour in real life and both gems may have very deep pavilions
LOT1901 | 3.80 carats Colombian Emerald No Oil
EMERALD, DIAMOND AND COLOURED DIAMOND RING
Octagonal step-cut emerald of 3.80 carats, pear and circular-cut diamonds, circular-cut pink diamonds, platinum and gold, ring size 6
Gübelin, 2019, report no. 19091095: 3.80 carats, Colombia, no indications of clarity enhancement
US$38,000-65,000
Our thoughts:
US$10,000/ct for a 3ct Colombian No Oil Emerald
From this image, we would be expecting Lot 1901 to be valued at US$70,000 - US$80,000
Lot 23 seems to be included - we would expect the stone to be full of visible inclusions and dark in colour in real life at this price estimate
LOT1938 | 14.70 carats Kashmir Sapphire No Heat
SUPERB SAPPHIRE AND DIAMOND RING
Cushion-shaped sapphire of 14.70 carats, fancy and circular-cut diamonds, gold, ring size 5 ¾
SSEF, 2018, report no. 98932: 14.706 carats, Kashmir, no indications of heating
Gübelin, 2018, report no. 18040006: 14.70 carats, Kashmir, no indications of heating
US$500,000-750,000
Our thoughts:
US$34,000/ct for a 14ct Kashmir No Heat Sapphire
A Kashmir No Heat Sapphire of similar clarity but better colour would already be valued at US$41,000 for just a 5ct size stone, a 14ct stone will go for exponentially higher
At this price estimate, we would expect Lot 1938 either undervalued or extremely dark and dull in colour with almost no fire from the stone in real life
Comparison Sapphire : 5.01 Kashmir Sapphire No Heat
This 5ct good colour and quality Kashmir No Heat Sapphire sold for US$41,000/ct (excl. premium)
AN EXCEPTIONAL SAPPHIRE AND DIAMOND RING
SOLD for US$260,000 (inc. premium)
By BONHAMS Hong Kong Jewels and Jadeite May 2019
The antique cushion-shaped sapphire, weighing 5.01 carats, between single-cut diamond shoulders, ring size 5½
Accompanied by a SSEF report stating that the natural sapphire has no indications of heat treatment and originates from Kashmir. Report number 105838, dated 20 March 2019.
KASHMIR SAPPHIRES"Kashmir sapphires were first discovered in the late 1870s/early 1880s high up in the snow-clad Great Himalayas of north-western India. The area was worked sporadically until the late 1920s/early 1930s but the glory years of the 1880s were never repeated. Legend tells that the finest stones from this 30-40 year period were all acquired by the Maharaja and jealously guarded in the chambers of the Kashmir State Treasury. British geologist, Charles Stewart Middlemiss, Superintendent of the Mineral Survey of Jammu and Kashmir State from 1917 until 1930, recorded seeing some of this fabled hoard, describing the sacks of rough and cut gems as a "king's ransom", with some sapphires the size of polo balls.
Today, Kashmir sapphires set the standard against which all other sapphires are measured and are avidly sought by collectors who are prepared to pay princely sums for top-quality specimens from this extraordinary period in the history of gemmology."
Excerpt from BONHAMS.