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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. 

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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