May 2016 was an exceptional month in the history of diamond auctions. And we’re not just talking about the Geneva auctions in which auction houses like Christie’s and Sotheby’s carried out some of the most amazing record-setting sales. At Worthy, last month also brought in several jaw-dropping online auctions, like this 10.01 CT Fancy Yellow Diamond.
When we thought we couldn’t be more excited about the amazing story behind the Yellow Diamond auction, we received another pleasant surprise: a stunning a GIA 10.11 CT Round Cut Diamond had been submitted on our website. After reading our client’s description of his item, we carried out a pre-auction market value estimate without any cost to the seller.
Once our client agreed on the reserve price for his item, we provided him with a fully insured FedEx shipping label addressed to our headquarters in New York City for a full evaluation. As part of our one-of-a-kind evaluation process, we hand-delivered the item to the GIA laboratories located near our offices for a 100% professional and objective diamond grading. Our partnership with GIA, the world’s leading diamond grading institute, aims to provide a professional evaluation based on the highest industry standards, in order to enhance buyer trust and ultimately getting the highest market value for our clients’ diamonds.
In this case, the GIA report graded the stone as a 10.11 CT with D color, VVS1 clarity and excellent cut. A diamond of that size with such outstanding attributes is incredibly valuable, and we knew that through our online auction platform we would be able to get the highest deal possible for our client. We took professional photographs in high resolution and created a detailed description for our buyers based on the GIA report.
As soon as the auction started, bids rolled in reaching total bids of over $4M. During the whole process, the seller was able to check the live auction 24/7 from wherever he was. After 7 days, the auction was closed with a final offer of $676,260!
This remarkable story is only one example of how our auction platform can help our clients get the most for their diamonds. We take pride in providing the most secure, fast and hassle-free way for selling your pre-owned diamond jewelry online. We do all the legwork, and you enjoy the true value of your diamonds.
Do you want to sell your diamonds or diamond jewelry? Get started with a free estimate.