Dazzling 9.22-carat diamond ring sells for $70,800 (Canadian) in Miller & Miller's June 11th auction

NEW HAMBURG, Ontario - June 16, 2022 - PRLog -- A dazzling platinum diamond ring featuring a 9.22-carat center stone and two baguette shoulder stones slipped onto a new finger for $70,800, and a circa 1991 Rolex Submariner watch with a solid 18kt yellow gold case and bracelet brought $43,660 in an online-only Watches & Jewels auction held June 11^th by Miller & Miller Auctions, Ltd.

Prices quoted in this report are in Canadian dollars and include an 18 percent buyer's premium.

The diamond ring boasted VS2 clarity and M color, and was accompanied by a certificate of appraisal from Gem Scan of Toronto. It sold within estimate, as did the Rolex Submariner, which had an Oyster bracelet and 40mm case that were the size one would expect from a Submariner, but with the added weight and feel of gold on the wrist, its presence was even more impressive.

"Lab created diamonds and their effect on the market for natural diamonds remains a popular topic of discussion in the jewelry industry," said Justin Miller of Miller & Miller Auctions, Ltd. "There is no question that a low-cost supply of lab created diamonds has affected the lower end of the market, but for larger, high-quality investment-grade diamonds, their availability seems to have had minimal impact. This was proven when the 9.22-carat diamond ring sold for $70,800."

Wristwatches in the auction included rare and desirable models from Rolex, Omega, Patek Philippe, Audemars Piguet, Breguet, Piaget, IWC and Blancpain and Accutron., The selection of jewelry included rings, necklaces, bracelets and earrings. American railroad pocket watches were made by Waltham, Illinois and Hamilton, among others.

"The market for untouched examples of highly sought-after Rolex and Omega models continues its upward trajectory, whereas prices for dress models appear to be leveling out," Mr. Miller observed.  "This is a trend that we have been monitoring closely for the past twelve months."

Miller & Miller Auctions, Ltd. has several major auctions planned for the remainder of 2022. Coming up quick is a Petroliana, Railroadiana & Advertising auction on Saturday, June 18^th, featuring the Joe Byway collection. After that is a Petroliana & Advertising auction (Sept. 10); an Art & Canadiana auction (Oct. 8); and a Watches & Jewels sale (Nov. 19). All will be online.

To learn more about Miller & Miller Auctions, Ltd. and the upcoming auction events, please visit www.millerandmillerauctions.com.