A Global Market

The jewellery market has continued to gain strength from the participation of new buyers from China, Hong Kong, Indonesia, Taiwan, India, Russia and the Middle East. Asian private collectors purchased the two most important jewels in the sale of HRH The Princess Margaret's collection (London, June 2006). Activity from Russian collectors is increasing in most sale centers, especially St Moritz, which has long been a favourite resort of theirs. In January 2007, Christie's held its inaugural sale of Contemporary Jewels & Watches in Dubai. In a packed saleroom that saw great activity from collectors all over the Middle East, the event realized $11.8m, surpassing all expectations and launching a strong new jewelry auction venue.

Diamonds & Precious Stones

Diamonds continue to lead the international jewellery market, as seen with the exceptional prices achieved at every Christie’s auction worldwide in 2006. The top lot of the year was a D color, internally flawless diamond of 50.53 carats sold for $4,216,000 – just over $83,000 per carat (New York, April 2006). Colored diamonds continue to attract great interest, especially pink and blue gems that can be worth 10 times more than their colorless counterparts. Colored stones, rubies in particular, also remain in demand and a Burmese gem of 8.62 carats achieved $3.6 million, setting a world auction record of $425,000 per carat (St. Moritz, February 2006).

Contemporary Jewels

Contemporary jewellery is thriving, with signed creations by world renowned designers bringing in strong prices as collectors show confidence in acquiring jewels as works of art. This was seen most clearly in the sale of Ellen Barkin’s collection and its unique ensemble of 17 jewels by JAR. Inspired pieces from this master jeweler far surpassed not only pre-sale estimates, but often the intrinsic value of the stones used. Jewels from contemporary designers such as Viren Bhagat (Bombay), Carnet (Hong Kong), Lorenz Baumer (Paris), James de Givenchy (New York) and Michele della Valle (Rome), continue to be greatly sought after at auction.