• 50 CARAT D-COLOR GRAFF DIAMOND RING BOUGHT BACK BY LAURENCE GRAFF FOR $8.4 MILLION
• NEW WORLD AUCTION RECORD ACHIEVED FOR A REDDISH-ORANGE DIAMOND OF 3.15 CTS AT $2.1 MILLION
• NEW WORLD AUCTION RECORD PRICE PER CARAT ACHIEVED FOR A KASHMIR SAPPHIRE OF 8.91 CTS - $154,000 PER CARAT
New York – Christie’s New York saw a stellar finale to its fall auction season on December 10, with a blockbuster 300-lot sale of Magnificent Jewels at its flagship Rockefeller Plaza saleroom. The day-long sale realized a total of US$32,541,625 (£20,175,808/ €25,057,051) with strong sell-through rates of 84% by lot and 86% by value. This sale result, combined with robust results achieved for Christie’s New York jewels auctions in April, June and October, brings the 2012 New York jewelry auction total to over US$163 million.*
The top lot of the December 10 sale was a rectangular-cut, D-color, potentially flawless diamond ring of 50.01 carats by Graff. Estimated at $7-10 million, the ring fetched US$8,370,500 (£5,189,710/ €6,445,285) or US$167,400 per carat. The buyer of the stone was Laurence Graff.
“This is the third time that I have owned this beautiful diamond and I am as thrilled today as I was the first time. Diamonds of this exceptional caliber have a life and legacy that carries on beyond us all,” noted Mr. Graff after the sale. “This is one of the finest D-color diamonds in the world and I am delighted to have it back again.”
Earlier in the sale, Christie’s realized a new per-carat record for a Kashmir sapphire at auction, with the sale of a superb 8.91 carat sapphire for US$1,370,500 (£849,710/€1,055,285) or US$154,000 per carat. The final lot of the season was an exceedingly rare fancy reddish-orange diamond of 3.15 carats. The unique stone is the largest reddish orange diamond ever graded at the Gemological Institute of America (GIA). Exhibiting two of the rarest hues in the world of diamonds, this rarity soared beyond its low estimate of $700,000 to sell for US$2,098,500 (£1,301,070/ €1,615,845), setting a new world auction record for a reddish-orange diamond and a new per-carat record price of US$666,200.
For the year in New York, Christie’s sold 29 jewels over the $1 million mark, of which 4 jewels achieved over $7 million. In April, Christie’s garnered headlines worldwide with the highly successful sale of the jewelry collection from the estate of the reclusive American copper heiress Huguette M. Clark. The collection, comprised of 17 exceptional jewels from the Art Deco period, realized $20.8 million and saw a new U.S. auction record achieved for The Clark Pink, the most expensive pink diamond ever sold at auction in the United States.
Rahul Kadakia, Head of Jewelry, Christie’s Americas and Switzerland, commented: “A D color diamond of 50.01 carats last sold by Christie’s New York in 2005 and purchased by Laurence Graff for $4.2 million has once again been purchased by Mr. Graff for $8.4 million, demonstrating the increasing strength and stability of the global diamond market. Over $163 million of superb jewels sold under our gavel this year at Christie’s New York, with new and established collectors competing at the very highest levels.”
Note to editors:
*The full 2012 total for the jewelry category will be announced in January 2013 as part of the company’s annual corporate figures release.
December Luxury Week at Christie’s New York continues on Tuesday, December 11 with our Interiors sale. Full results for Luxury Week will be available at the close of the week. For the full roster of sales, click here
Christie’s is a name and place that speaks of extraordinary art, unparalleled service and international expertise. Founded in 1766 by James Christie, Christie's has conducted the greatest and most celebrated auctions through the centuries providing a popular showcase for the unique and the beautiful. Christie’s offers around 350 auctions annually in over 80 categories, including all areas of fine and decorative arts, jewellery, photographs, collectibles, wine, and more. Prices range from $200 to over $100 million. Christie’s also has a long and successful history conducting Private Sales for clients and online sales are offered year-round across all categories. Christie’s global presence is spread across a network of international salerooms and 61 representatives and offices. Christies.com provides detailed articles and videos on the objects offered for sale alongside the latest advances in digital viewing tools to make Christie’s accessible to all.
*Please note when quoting estimates above that other fees will apply in addition to the hammer price - see Section D of the Conditions of Sale at the back of the sale catalogue.
*Estimates do not include buyer’s premium. Sales totals are hammer price plus buyer’s premium and are reported net of applicable fees.