This year fall, a total of eight blue diamonds from “The De Beers Exceptional Blues Collection” sourced from the Cullinan Mine in South Africa was to be sold in the auction during 2022-2023. However, in the Sotheby’s Geneva auction in November, the first two from the batch failed to sell. One was withdrawn right before the auction, and the other failed to meet its reserve price. In early December, as one of the largest polished diamond and largest flawless or internal flawless diamond ever graded by GIA, the 303.10ct fancy deep brownish-yellow diamond “Golden Canary” hammered price fell far short of expectations at Sotheby’s New York Magnificent Jewels Auction.

Experts from the industry and auction house generally agreed that the market was fatigue about overflowed color diamonds appeared at auction and excessive advertising campaign and media exposure. Further, the sanction resulting from Ukraine war against Russia are also seen as possible reason, because Russian buyers are one of the major buyer of large diamonds at auction houses.

The 303.10-carat fancy deep brownish-yellow “Golden Canary” diamond – nationaljeweler.com