NEW YORK, NY.- An extraordinary type IIa diamond sold for $2,629,000 at Bonhams Fine Jewelry sale on December 9, the pinnacle of the day's two jewelry sales which achieved $8,912,188 in total. The unmounted stone weighed 17.82 carats and was a modified pear brilliant-cut. Consigned from a private collection, the diamond more than doubled its pre-sale estimate after a lengthy bidding war.

"Less than 2% of the world's diamonds are type IIa, meaning they contain little - if any - nitrogen. They are considered the most chemically pure of all diamonds, and are renowned for their limpid appearance. This particular diamond was almost like a droplet from a sparkling waterfall," explained Susan Abeles, Bonhams Head of US Jewelry, and Virginia Salem, the Director of the Jewelry Department in New York. "It was a pleasure to offer the diamond after decades in a private collection."

Hundreds of bidders representing almost two dozen countries participated in the Fine Jewelry sale, with notable interest coming from East Asia, including Hong Kong, China, Taiwan and Korea. The Madison Avenue gallery audience was standing room only, as the determined attendees competed with the telephones and those bidding live online. The sale was 88% sold by lot and 82% sold by value.

Diamonds were the order of the day, comprising no less than nine of the top 10 prices achieved for Fine Jewelry. The rainbow array of colored diamonds on offer attracted significant attention. A 1.12 carat pear shaped, natural fancy intense blue diamond ring tripled its pre-sale estimate to reach $365,000, while a fancy brownish-pink diamond ring, weighing 2.01 carats, more than doubled its estimate to reach $155,000. A fancy intense yellow diamond ring weighing 7.09 carats reached $185,000, while a fancy light yellow diamond ring weighing 7.79 carats achieved $118,750.

Diamond solitaire rings and earrings were also well received. A 5.05 carat diamond solitaire ring from Harry Winston brought $209,000, while a 5.27 carat, E color diamond solitaire ring with internally flawless clarity realized $293,000. A pair of diamond solitaire earrings, coming from a Charleston, SC estate more than doubled their estimate to reach $125,000.

According to Bonhams Jewelry Department in New York, "We are very pleased with the results today, which confirm the renewed strength of the diamond and fine jewelry market worldwide."

The Fine Jewelry sale on December 9 was immediately followed by the Salon Jewelry sale, which saw excellent prices achieved for diamonds, sapphires, and signed pieces from makers such as Tiffany & Co. and Cartier.