auction

Unique emerald goes on auction

Isaac Mostovicz writes that an exceptional gem is up for auction...

While diamonds are certainly my favorite gems, many women are finding alternative types of gems to use for their engagement rings so that they can be unique without a diamond (of course every diamond is unique, and every woman can certainly find the right diamond for her, but as always luxury depends on how you interpret it). Luxist brought to my attention the particularly large (1040 carats) “Polly” emerald that is going up for auction on 29 August. Appraised for $454,000 by a GIA certified appraiser, it’s certainly too large for a ring, but it’s so unique, I could see many a Lambda be interested in purchasing it for his or her collection. The auction is open to anyone, with bids by phone or absentee bids with a $50,000 deposit.

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Classic Car Auction in London

Isaac Mostovicz writes...

image Businessman Bernie Ecclestone apparently has too many classic cars for his liking.  Last week the Guardian reported how the President and CEO of Formula One held “the billionaire’s version of a spring clean” by selling off 50 cars in his private collection, many of which he has never driven.

The highlight of the show was Ecclestone’s 1937 Mercedes Benz 540K Spezial Roadster, which sold for £3.85 million ($8 million).

Simply touring the auction became an event in and out itself as visitors paid £50 yesterday just to gain admission to view the cars themselves.  One visitor, as reported by the Guardian, visited as much to ogle other visitors as to appreciate the cars themselves:

We have more money than we know what to do with, so we thought we’d come here.  And we wanted to see what greed looks like.

The full takings of the sale have not been released, but not all the cars went for millions or hundreds of thousands of pounds–a 1964 Ford Anglia Deluxe Saloon went for £5,588.

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Diamond Hoax and Diamond Highs

Isaac Mostovicz writes...

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One for the ‘too-good-to-be-true’ file: several weeks ago we mentioned the discovery of an unpolished diamond in the North-West Province of South Africa that was said to be twice the size of the Cullinan diamond. Turns out it’s a hoax: The UK’s Guardian reports that Brett Jolly, a British property developer, was apparently duped by former business colleagues who were trying to get him to buy the land where the ‘diamond’ was found. Upon Jolly’s arrival at the mine, they produced something that was clearly plastic and didn’t or wouldn’t use the testing machine properly on this ‘diamond’ to accurately test it. Shame.

In actual diamond news, Sotheby’s recently held an auction in Hong Kong that sold a 6.04 carat internally flawless ‘fancy vivid blue’ diamond for $7.98 million. That’s a price of $1.32 million per carat, about 10 times the amount that white diamonds of this caliber would sell for, and well above the previous record set by ‘Hancock Red,’ a red diamond that sold for $926,000 per carat 20 years ago.

The Diamond Vues blog notes that Sotheby’s is also going to auction off a nearly perfect 84.37 carat white diamond on November 14 in Geneva. It’s expected to fetch $15 million.

And so demand for exceptional diamonds continues to rise.

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