Auctions

Christie’s jewels auction totals $28m

Christie’s has announced that its Magnificent Jewels auction totalled $28m (£21.6m), with 87% sold by value and 83% sold by lot. 

The auction, which took place in New York City on 29 July, had global participation with clients registered from 34 countries.

A diamond necklace suspending a pear-shaped diamond was the top lot of the sale. The  115.83 carats, F color, VVS1 clarity piece realized $6m (£4.8m). 

Coloured diamonds also led the sale. Internally Flawless, an “intense” 7.16 carat blue diamond ring, sold for $3.8m(£2.9m), while a light purplish pink, 7.65 carat ring was sold for $819,000 (£628,946). 

Gemstones also achieved high prices in the sale, with one 53.48 carat sapphire ring fetching $615,000 (£472,286) in the auction. Meanwhile, a Colombian emerald ring of 35.77 carats realized $399,000 (£306,410), while a sapphire and diamond necklace sold for $325,000 (£249,582).

According to Christie’s, “important” signed pieces featured in the sale received competitive bidding and “exceeded initial estimates”.

This included a pair of gold ‘pendantif-pendant’ earrings by Man Ray, which achieved $125,000 (£95,993) against its low estimate of $10,000 (£7,679), as well as a set of opal jewellery by Angela Cummings for Tiffany & Co. that sold for $68,750 (£52,796) against its low estimate of $20,000 (£15,352).

In addition,  a coral, onyx and diamond bracelet by Bulgari achieved $111,250 (£85,399) against its  $40,000 (£30,705) estimate, while a Van Cleef & Arpels ruby, emerald, sapphire and diamond bracelet sold for more than five times its estimate, realizing $162,500 (£124,740).

The auction house’s Jewels Online sale continues through 6 August and 7 August, and is set to feature a broad selection of fine jewels and iconic designs, including Bulgari, Cartier, David Webb, Tiffany & Co., and Van Cleef & Arpels pieces.

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