Bonhams London Nets 6 Million in Diamond Sale

The world-renowned auction house, Bonhams London, is living up to its reputation after experiencing an exceptionally strong fiscal end to 2011. Their jewelry department sales alone increased 70 percent from 2010 to 2011. This dramatic improvement was likely aided by their recent diamond sale, which earned approximately 6.4 million dollars in total, solidifying Bonhams as the fine jewelry market leader in the U.K.

The most valuable piece at this particular auction was an exquisite marquise cut diamond ring. At 9.22-carat, this ring alone sold for almost one million dollars. While the marquise cut ring netted the highest profit, it was certainly not the largest diamond sold at this auction.

The largest diamond featured in this sale was a 24.47-carat brilliant cut diamond ring. This ring as well, as an un-mounted 3.64-carat fancy intense bluish-green cushion-shaped diamond ring, each sold for $395,000. This illustrates just how unimportant size can be while determining the value of a diamond.

With the current instability of stocks and investments around the world, it is no surprise that people have turned to tangible assets, such as diamonds, to secure their equity. With the price of diamonds projected to increase over the next decade, more people will be turning to them as viable investments. Bonhams London has certainly benefited from this rise in demand. At this time, consumers are taking quality into strong consideration and are willing to pay top prices to aquire the best.

There are many different types of diamonds, and each category has its unique high standards of quality. A diamond can be fewer carats and still receive a high-ticket price if it is a rare, expertly cut and polished piece. For example, Bonhams also auctioned a lovely diamond and blue diamond crossover ring by Bulgari for 2.9 million dollars. It is unique and exceptional pieces such as this that have enabled Bonhams to become one of the largest and oldest auction houses across the globe. Bonhams London was able to stay ahead of the competition by having the best selection of diamonds across the board.