Auctions

Christie’s Geneva sales total £45m

Christie’s luxury sales in Geneva, which took place over the course of July, realised a combined total of £45,885,630.

This total included the sale of 195 pieces of jewellery, 226 watches, and 819 fine wines, with a combined sell through rate of 81%. Registered bidders came from 42 countries, across six continents. 

The top lot of the sale week was a vivid blue and colourless diamond ring by REZA, which sold for 8.7m Swiss francs (£7.4m)  in the ‘Magnificent Jewels’ sale that took place on 22 July.

The event also saw the sale of a pair of cabochon aquamarine and single-cut diamond earrings signed Margaret Jewels, a Geneva-based private jeweller, which was sold to benefit the Swiss foundation Children’s Action. The earrings sum will be donated in its entirety to benefit the foundation.

Francois Curiel, chairman of Christie’s Europe, said: “Our 102nd week of sales in Geneva took place under extraordinary circumstances with social distancing, not just at the pre-sale exhibition but also at all three live auctions. 

“Nevertheless, collectors showed great resilience and confidence as they bid and bought all week long, starting with the Cartier clocks to fine wrist watches, rare wines to superb gems.”

He added: “The star of the week was a twin stone blue and white diamond ring by Parisian jeweler, Reza, which achieved $9.2m after spirited bidding between several telephones. A 100ct perfect D color diamond was purchased by Moussaieff jewelers who continue to acquire the rare and unusual gems of the world.”  

Aline Sylla-Walbaum, international business manager of the Luxury Cluster said: “Christie’s has been the Jewels market leader for 26 years. 

“Our commitment to excellence combined with our strong personal relationships has built our reputation, which in turn has created trust; the most important factor for clients when buying at auction, might it be live or online.” 

She added: “The Geneva sale season, which operated under strict sanitary guidelines, including reduced attendance in the auction room, saw strong participation of buyers from 42 countries over the phone and online. 

“With a combined sale result of CHF 54.6 million and a sell-through rate of 81%, we are now looking forward to London and New York to conclude the July Luxury Sales month, which started in Hong Kong.” 

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