Magnificent Jewels Sale Nets Christie’s Geneva $97 Million

May 14, 15 by David Brummer

(IDEX News Online) – Christie’s Magnificent Jewels auction, which was held in Geneva on May 13, realized a total of $ 97.5 million. The top lot of the sale was a 5.18-carat rectangular-cut fancy vivid pink diamond ring, which sold for $10.7 million or $2.067 million per carat, coming in at the middle of the pre-sale estimate of $9.5-$12.5 million.

A pear-shaped D / IF diamond of 55.52 carats was bought for just over $9 million, or $162,711 per carat.

Another top piece was a 35.09-carat cushion-shaped Kashmir sapphire ring, which changed hands for $7.4 million, or $209,689 per carat, establishing a world auction record for a Kashmir sapphire

Overall, 19 lots sold above $1 million.

“The inexorable rise in demand for colored gemstones and pearls continued this evening…,” said Rahul Kadakia, International Head of Christie's Jewelry Department

This sale, which was 77 percent sold by lot and 81 percent by value, was expected to generate revenues in excess of $80 million. It follows another Christie’s auction in New York in April that realized $49.2 million, including the sale of a 5.29-carat fancy intense purplish pink diamond, which sold for $5.76 million, or $1.09 million per carat.

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Magnificent Jewels Sale Nets Christie’s Geneva $97 Million

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