Brilliant Ring-ins
Sydney Morning Herald
Saturday October 1, 2005
The Holy Grail of jewellery in my estimation is a Tiffany diamond solitaire ring. But, a little like Holly Golightly, the closest I assumed I'd get was by pressing my nose against the glass.
I may never own a Tiffany but my chances of acquiring a substantial diamond solitaire look infinitely more glittering after a tour of Sydney's auction houses.Last month, Bonhams & Goodman celebrated what they claim was the most successful jewellery auction in Australia, with more than $900,000 of items sold.The highlight was a 3ct D/flawless emerald cut diamond (pictured), sold after fierce bidding for $90,820. An 18ct gold 4.2ct solitaire diamond ring went for $50,200, well above pre-sale estimates of $34,000-$38,000. More attainable were many fine-quality graded diamonds, for example a loose 2ct brilliant diamond selling for $34,650, a 2ct solitaire diamond ring for $30,300 and a 2.66ct solitaire diamond ring for $26,300.On the more affordable side, Tim Goodman says, "There are lots of wonderful things you can buy for under $1000. Or you might find a diamond and sapphire ring for $2000 that in a shop would sell for three times as much and then have a jeweller alter it to your taste or size."At self-described "grass roots" auctioneer Lawson-Menzies, the prices come down a considerable notch. "A diamond ring of high clarity, good cut etc, would retail at around $10,000 for 1ct but here you could pick that up for around $4500," says general manager Martin Farrah.Reputable auction houses will supply condition reports and will guarantee the items they sell.Sotheby's offers the following advice for buying good stones:Diamond buyers are looking at 11/2 to 2 cts and better quality. A grading certificate for diamonds of a good colour and size will assist with the resale.Round brilliant cuts are still the most popular, followed by emerald cut. Fancy cuts such as heart, pear and marquise shapes are more difficult to sell.A good colour and cut will see your piece appreciate in value over a low-colour, fancy-cut diamond.
© 2005 Sydney Morning Herald