×
By
AFP
Published
Nov 20, 2008
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Top diamond stays on the shelf at Geneva auction

By
AFP
Published
Nov 20, 2008


A Sotheby's employee holds the 'Fancy Deep Blue' diamond during an auction preview on November 12 - Photo : Fabrice Coffrini/AFP
GENEVA, Nov 20, 2008 (AFP) - A 10.48 carat blue diamond failed to sell at a Geneva auction as no one matched the reserve price of 6.7 million Swiss francs (six million dollars), auctioneers Sotheby's said Thursday, blaming the current economic climate.

The Fancy Deep Blue diamond, described by Sotheby's as "beauty personified," did attract stray interest on Wednesday evening but no acceptable bids.

"The diamond market is currently in a period of transition and it will probably not be clear where it is headed until the end of the year," said David Bennett, Sotheby's chairman of jewellery for Europe and the Middle East.

"As in all markets in transition, potential buyers were reluctant to commit to purchase, which resulted in the three top diamond lots remaining unsold," he added.

The top lot sold was a Fancy Pink diamond ring weighing 8.02 carats, which fetched 1.59 million Swiss francs, Sotheby's said.

The whole sale fetched 17.9 million francs, taking the total from Sotheby's jewellery auctions in Geneva for 2008 to 77.9 million francs.

Copyright © 2022 AFP. All rights reserved. All information displayed in this section (dispatches, photographs, logos) are protected by intellectual property rights owned by Agence France-Presse. As a consequence you may not copy, reproduce, modify, transmit, publish, display or in any way commercially exploit any of the contents of this section without the prior written consent of Agence France-Presses.