Rare Orangy-Red Diamond Sells for USD 1.45 million at Heritage Auctions Setting the Third Highest Price-Per-Carat Value Recorded by a Red Diamond in the World

Texas-based auction house Heritage Auctions set a record at its Jewelry Auctions held on September 29, 2022, when a 1.21-carat, extremely rare fancy orangy-red, round brilliant-cut diamond, bearing Lot No. 55149, with an estimate of USD 100,000 -150,000 sold for a staggering USD 1,450,000, which was 14.5 times the lower estimate and almost 10 times the upper estimate. The rare red diamonnd set a price-per-carat value of USD 1,198,347 the third highest price-per-carat value recorded by a red diamond in the world, the first ppc-value of USD 1,694,101 being held by the 1.92-carat, rectangular-cut,fancy-red, un-named red diamond that sold for USD 3,252,675 at a Christie’s Geneva Auction in May 2013. The second highest ppc-valuie of USD 1,565,557 for a red diamond is still held by the 5.11-carat, trilliant-cut, fancy-red, Moussaieff Red diamond, the largest red diamond in the World, which achieved a price of USD 8 million.

The red diamond was previiously set in a bracelet, the property of a Lady, who inherited it from her mother, which also had other colored diamonds set on it. Many of the colored diamonds set in the bracelet turned out to be color-treated. Hence, it was presumed that the red diamond too must have undergone color enhancement like the others. However, due to the extreme rarity of diamonds of this color, experts of the auction house, sent the diamond to GIA for testing, and surprisingly it turned out to be of natural color.

GIA Report No. 2225274265 States that the 1.21-carat, round brilliant-cut diamond with dimensions of (6.62-6.84) x 4.14 mm, has a Fancy Orangy-Red Color, and a Clarity of I-2.

The bidding on this lot started with USD 300,000 and after over thirty competetive bids reached USD 1,450,000. The final price was the highest achieved by any jewel at a Heritage Auction. According to the auction house, the stone’s rare saturation and intensity in Color, were behind its strong performance.

Commenting on the sale of the red diamond, Heritage’s executive director of fine jewelry, Jill Burgum said, “Diamonds described as predominantly red are extraordinarily uncommon, and finding one over 1 carat is especially rare. So we weren’t surprised that this magnificent specimen caught the eye of our discerning bidders.”

The first, second and third largest red diamonds in the World are 1) The 5.11-carat, trilliant-cut, fancy red Moussaieff Red Diamond 2) The 5.05-carat, emerald-cut, Kazanjian-Red Diamond and 3) The 5.03-carat, modified round brilliant-cut, fancy dark-red De Young Red Diamond.

©Smithsonian Institution

The 1.21-carat, round brilliant-cut, fancy orangy-red diamond that sold at the September 29, Heritage Auctions occupies the 11th place in the table of known famous diamonds arranged in descending order of carat weights.

S/NName of DiamondCarat WeightCut/ShapeColorHighest price achieved at sale/auctionPrice per carat
1Moussaieff Red5.11trilliant-cutfancy redUSD 8 millionUSD1,565,557
2Kazanjain Red5.05emerald-cut   
3DeYoung Red5.03modified round brilliant-cutfancy dark red  
4Fancoldi Red Diamond3.16round brilliant-cutfancy intense purplish-red  
5Graff Purplish-Red2.26modified octagonal-cutfancy purplish-redChristie’s Geneva auction, Nov. 2007. USD 2,646,000USD 1,170,796
6Raj Red Diamond 19882.23    
7Unnamed Red Diamond1.92radiant-cutfancy redPhillips de Pury, New York Auction, Oct.2001, USD 1,652,500USD 860,677
8Unnamed Red Diamond1.92rectangular-cutfancy redChristie’s Geneva, May 2013. USD 3,252,675USD 1,694,101
9Unnamed Red Diamond1.70octagonal-cutfancy purplish-redChristie’s Hong Kong, Dec.2008 
10Unnamed Red Diamond1.59modified rectangular-cutfancy purplish-redChristie’s New York April 2007, USD 958,400USD 602,767
11Red Diamond Sold at Heritage Auctions1.21Round Brilliant CutFancy orangy red Sept 29th 2022 Heritage AuctionsUSD 1,450,000


Unnamed Red Diamond1.05oval-cutfancy redChristie’s April 2002, USD 442,500USD 421,428
13Unnamed Red Diamond1.00pear-shapedfancy purplish-redChristie’s Oct 1997 Sale, USD 215,500USD 215,500
14Hancock Red0.95circular-cutfancy purplish-redChristie’s New York auction 1987. USD 880,000USD 926,315
15Unnamed Red Diamond0.91modified square-cutfancy purplish-redSotheby’s Hong Kong, Nov. 2004. USD 561,392USD 616,914
16Unnamed Red Diamond, Christie’s Hong Kong, May 20010.73rectangular-cutfancy redUSD 391,280USD 536,000
17Rob Red0.59pear-shapedfancy intense red  
18Unnamed Red Diamond, Christie’s Hong Kong, May 20000.59oval-cutfancy purplish-redUSD 262,550USD 445,000
19Lady in Red0.54round-brilliantfancy intense purplish-red  

© internetstones.com

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