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Jewel sells for world record price in an online auction

Christie’s has announced that its 28.86 carat, D colour diamond was the highest valued lot ever offered in a Christie’s online sale. 

The stone was estimated at $1m (£806k) to $2m (£1.6m), and received bids immediately upon the sale going live on 16 June. After a “fierce competition” of 31 bids from across the globe, the stone sold for $2.1m (£1.7m), setting the new record for a jewel sold in an online auction.

Overall, Christie’s Jewels Online series totalled $4.1m (£3.3m), with 100% sold by value and 93% sold by lot, achieving 140% hammer above low estimate, and 64% of lots selling at or above their high estimate. 

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Christie’s said the online sale received “significant global participation” with bidders represented from 27 countries and five continents. 

According to Christie’s, there was also an “unprecedented” amount of online engagement across a spread of 134 countries, with a 70% increase of daily visitors to the sale page compared to the online Jewels sale hosted in June 2019. 

Rahul Kadakia, international head of jewellery at Christie’s, said: “The spectacular 28.86 carat D colour diamond received immediate attention upon its announcement. 

“The stone possesses a transparency and purity which can only be found in the world’s finest diamonds. The sale of this exceptional stone established the record for a jewel sold in an online-only auction, demonstrating greater client confidence in Christie’s digital ability and online sale platform.” 

He added: “We now look forward to the beginning of our live auction season for jewellery spanning all major Christie’s global sale sites led by a US$8m Fancy Intense Blue IF Diamond of 12.11 carats offered in Hong Kong on July 9.”

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