Graff Pays $8.3 Million to Own 50 Carat Diamond for Third Time

Time and again, a certain 50 ct. D-color potentially flawless mega-rock keeps coming back to Laurence Graff.

The London diamond magnate purchased the top lot at Christie’s New York Dec. 10 Magnificent Jewels auction—a ring that he originally designed, featuring a 50.01 ct. rectangular-cut D-color potentially flawless diamond. He paid $8.37 million, or $167,400 per carat, said the auction house.

Christie’s sold the same diamond for $4.2 million in 2005, meaning in the intervening years its price has nearly doubled.

“This is the third time that I have owned this beautiful diamond and I am as thrilled today as I was the first time,” said Graff in a statement. “This is one of the finest D-color diamonds in the world and I am delighted to have it back again.”

The sale also set two notable records:

• An ultra-rare 3.15 ct. reddish orange stone—the largest such stone ever graded at the Gemological Institute of America—sold for $2.09 million, setting a new world auction record for a reddish-orange diamond, and a new per-carat record of $666,200.

• An 8.91 ct. sapphire sold for $1.37 million, or $154,000 per carat, setting a new per-carat record for a Kashmir sapphire at auction.

All in all, the sale realized a total of $32.5 million, with sell-through rates of 84 percent by lot and 86 percent by value.

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Color of the Year for 2013

It’s been a jewel-tone hit on the red carpet for some time, and now emerald green has officially taken hold of the fashion world given thatPANTONE has dubbed it the Color of the Year for 2013.

Emerald green, or PANTONE 17-5641, is the PANTONE Color Institute’s Color of the New Year for 2013.

The color authority, which surveys couture designers regarding their fave collection hues each season, revealed its annual choice this week, calling it “a lively, radiant, lush green.” Fashion designers Tracy Reese and Nanette Lepore are just two designers noted in thePANTONE Fashion Color Report Spring 2013 who are incorporating emerald into their spring collections.

PANTONE 17-5641 officially replaces Tangerine Tango, the Color of the Year for 2012, described as a “spirited, reddish orange” that “provided the energy boost we needed to recharge and move forward,” according to Leatrice Eiseman, executive director of the Pantone Color Institute.

Most often associated with precious gemstones, the perception of the color emerald is sophisticated and luxurious, and represents growth, healing, and new life in cultures worldwide. It’s also the color of renewal and prosperity, and enhances a sense of well-being and promotes balance and harmony.

“Green is the most abundant hue in nature—the human eye sees more green than any other color in the spectrum,” Eiseman told the press. “Symbolically, emerald brings a sense of clarity, renewal, and rejuvenation, which is so important in today’s complex world.”

Even cosmetics brand Sephora and department store chain J.C. Penney are capitalizing on the Color of the Year by launching unique emerald-green collections. Jewelry store owners can do the same by showcasing cases of emerald jewels large and small, available across a wide range of prices, as well as offering complementary jewel tones for the influx of emerald green clothing that will be in stores by spring.

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