Jun 3, 2015
Learning More About Fine Jewels at Auction
At Guildhall Diamonds we often talk about auction records for Natural Fancy Color Diamonds and how important they are in terms of setting value. This is because the premiere auction houses (Sotheby’s and Christie’s) attract the worlds most prestigious buyers, dealers and investors for the rarest and most exclusive diamonds, gemstones and pearls whether for historical importance, investment or sheer breathtaking beauty. When buyers and collectors see the record breaking results year after year, it is actually in the auction houses that pricing for the industry gets set.
You may have heard the phrase “natural fancy color diamonds have never dropped in value since record keeping began in the 1970’s.”
I often hear this term being bounced around the Internet. But what does it mean really? Well, Sotheby’s and Christie’s hold the records for diamonds sold at auction and so they are actually the source for pricing. They will use their own records to price estimates for stones at auction. Dealers and private investors use auction records as a means to value their goods as well.
I am always on a hunt for more knowledge when it comes to natural fancy color diamonds – so when I heard that Catharine Becket, Sotheby’s New York Specialist and Vice President was presenting at a GIA Alumni event, I made sure I bought a ticket to attend.
If you would like to get an insider’s peak into the world of auctions, specifically Catharine Becket’s GIA presentation, visit my blog Queen of Color Diamonds or click here.
Colorfully yours, Nicole Snitman, GIA DG, AJP