Enormous Heart Shaped Diamond Auctioned at Christie’s

Christie’s Auction house’s upcoming Magnificent Jewels auction may not be held until May 18th 2011, but it seems the world famous auction house couldn’t wait to showcase one of its star pieces.

Certain to be a big draw this spring is a 56.15 Heart shaped diamond expected to sell for anywhere between $9 million to $12 million, according to pre-sale estimates.  Heart diamonds are more technically known as ‘Heart Shape Modified Brilliant’ cuts, based upon its shape and modification of the traditional Round Brilliant cut.

In fact, Christie’s estimates that less than a handful of heart shaped diamonds weighing over 50 carats have been sold in the last 20 years, due to the skill required to cut such a diamond.  According to experts, cutting a symmetrical heart while maintaining weight and brilliance takes a master diamond cutter. 

The upcoming auction set to take place in Geneva will no doubt help Christie’s continue their streak after 2010 set records as their highest selling year, into the New Year.  The record was helped along by the sale of some other pricey diamonds, including a 14.23-carat rectangular-cut, fancy intense pink diamond ring named The Perfect Pink, which made international headlines when it sold for $23.2 million in November in Hong Kong.     

As well as The Bulgari Blue, a circa 1972 two-stone ring featuring a 10.95-carat triangular-cut fancy vivid blue, VS2 diamond and a 9.87-carat triangular-cut G, VS1 white diamond, which sold for $15.8 million in New York in October.  Purchased by a private Asian buyer, it was the second highest sale for Christie’s in all of 2010.

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