Christie’s New York Jewelry Sale Deemed ‘An Auction to Remember’
October 22, 09
 The 32 ct Annenburg Diamond (above) sold for $240,000 p/c at Christie’s NY Sale |
The international auction house reports that 327 out of 385 lots sold, which achieved a combined sell-through rate of 85 percent by lot and 94 percent by value.
The sale’s highlight, the Asscher-cut 32.01-carat D Flawless Annenburg Diamond, broke records and estimates by selling for $7,698,500, or $240,000 per carat.
Other top sellers passing the $1 million mark included a 16.33-carat E color internally flawless circular-cut diamond sold for $1,583,300 or $97,000 p/c; a pair of pear-shaped fancy blue (7.18 carats) and fancy light pink (8.04 carats) diamond ear pendants sold for $1,426,500; a second pair of ear pendants, pear-shaped diamonds of 7.51 and 8.18 carats, D color, internally flawless sold for $1,202,500 or $76,000 p/c; and a brooch by Cartier consisting of a belle époque diamond and rock crystal bow, sold for $1,082,500.
“It was as if the recession never happened,” remarked Rahul Kadakia, head of jewelry at Christie’s New York about the sale, which took place for three hours in the morning and then resumed for another four and a half hours in the afternoon. “Virtually every lot exceeded its estimate and the $7.7 million Annenburg diamond astonished even the most seasoned diamond dealer,” he added.
Diamond traders were encouraged by the results. “The auction prices are important news,” an Israeli trader told IDEX Online. “They provide further evidence to firming prices.”