FrontRunners: Rocks on a Roll

Two exceptionally rare colored diamonds will be the highlights of Christie’s New York Jewelry Sale (www.christies?.com) on October 15 in Manhattan. The stones—a 7.02-carat intense blue diamond and a 5.60-carat bright purplish-pink diamond—have presale estimate prices as high as $5 million and $3 million, respectively. However, over the past 18 months, auction prices for colored diamonds have soared far beyond estimates. In addition, notes Rahul Kadakia, senior vice president and head of the jewelry department for Christie’s Americas, the prices of colorless diamonds are about four times greater today than they were just three years ago. The Christie’s sale also will feature a number of significant colorless diamonds, including a rectangular-cut, 16.05-carat, D-??color stone with an estimated price of $1 million to $1.5 million.

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