JEWELLERY MARKET THRIVES IN GENEVA
CHRISTIE’S GENEVA MAGNIFICENT JEWELS SALE TOTALS $97 M
- World auction record for a Kashmir sapphire
- 138 buyers from 24 countries
- Strong results for coloured gems and natural pearls
- Intense competition on jewels by JAR
Geneva – On 13 May 2015, Christie’s auction of Magnificent Jewels fetched a total result of SFr.91,246,875 / US$97,515,535 / €86,666,281, selling 77% by lot and 81% by value.
The top lot of the sale was a rectangular-cut fancy vivid pink diamond ring of 5.18 carats, which sold for SFr.10,021,000 / $10,709,442 / €9,517,945 ($2,067,459 per carat).
A cushion-shaped Kashmir sapphire ring of 35.09 carats changed hands for SFr.6,885,000 / $7,357,999 / €6,539,373 ($209,689 per carat), establishing a world auction record for a Kashmir sapphire.
Rahul Kadakia, International Head of Christie's Jewellery Department, declared: “The inexorable rise in demand for coloured gemstones and pearls continued this evening. A 35.09 carat Kashmir sapphire established a new world record which equates to over $200,000 per carat. A single strand of natural pearls changed hands for $3.8 million and a 5.18 carat vivid pink diamond sold for $10.7 million. We now look forward to exciting sales in Paris, Hong Kong, London and New York during the next month.”
OVERALL 19 LOTS SOLD ABOVE $1 MILLION
The most valuable lot of Christie's Geneva auction of Magnificent Jewels was a rectangular-cut fancy vivid pink diamond ring of 5.18 carats, which sold for SFr.10,021,000 / $10,709,442 / €9,517,945 ($2,067,459 per carat; illustrated right).
A record-breaking cushion-shaped Kashmir sapphire ring of 35.09 carats fetched SFr.6,885,000 / $7,357,999 / €6,539,373 ($209,689 per carat), establishing a world auction record for a Kashmir sapphire (illustrated left).
International collectors fiercely bid on each of the four jewels by JAR which achieved a combined total of $1,714,195.
Royal Emeralds of India: a pair of antique Colombian emerald Indian bangles, circa 1900, sold for SFr.1,625,000 / $1,736,637 / €1,543,425 (illustrated below left)
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