Sydney, Australia --  Sotheby’s Australia is planning a landmark auction on April 12.  It will be the first time the Australian branch of the well-known auction house has had its own jewellery sale, and it will feature a home-grown red diamond.  This will also be the first red diamond offered up for public auction in Australia.  Sotheby’s noted in a press release that while the Argyle pink diamonds are considered rare and precious, so few truly red diamonds have been found that diamond connoisseurs consider them to be the most valuable of all colored diamonds.

This 0.82-carat, fancy purplish-red oval-cut diamond is flanked by a pair of fancy blue diamonds.  All three stones are surrounded by round-brilliant white diamonds and set on a platinum band which is barely visible, die to the size of the setting.  Accompanying the piece will be a letter from Argyle Diamonds, attesting to the rarity of the center stone.  The diamond ring, the featured piece in the sale, is expected to fetch between $645,000 and $1 million. 

Also included in the sale is a 10.07-carat heart-shaped diamond engagement ring valued at up to $500,000, a diamond-and-gemstone-studded Vertu mobile phone that includes pave-set fancy pink and white diamonds, pink sapphires and rubies, all set in 18-karat rose gold (an estimated $25,000-50,000).  Other colored stones will be on display, including an emerald and diamond ring, a sapphire and diamond ring, and a double-strand of graduated emerald beads with diamond-set rondelles.  Solitaire diamonds in white, yellow, and pink will be auctioned off, along with pieces by Cartier, Tiffany & Co., Rolex, Bulgari, Piaget, Breitling, and Paspaley South Sea Pearls.

The items will be available for viewing in Melbourne on April 7 and Sydney on April 10, with the auction taking place on April 12.  The total value of all of the lots combined is an estimated $2.9-5.1 million.  This will set up Sotheby’s Australian branch as another great market for high-qualty diamond jewellery. 

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