Sotheby's earned over $16 million in revenues, approximately $14 million of which was derived from sales, at its recent Important Jewels auction, held on September 20 in New York City, Diamond World reports.



The auction house noted that demand was strong at the sale, for stones below 10 carats in size as well as for the larger stones on sale. Most of those who made the most expensive purchases of the day were American diamond traders, Sotheby's said.



The stone that fetched the highest price at the auction was a 5.08 carat round fancy pink polished diamond, netting $1,426,500, according to Diamond World. Some of the other standout purchases at the auction included a 3.09 carat pear-shape fancy intense orangey-pink diamond pendant, which garnered $770,500, and a 13.22 Kashmir sapphire and diamond ring, which brought in $578,500.