2012 New York Jewelry Auctions Total US$163.6 Million

December 10 Sale Realizes US$32.5 Million

The New York Magnificent Jewels auction realized a total of US$32,541,625, setting several new world auction records and demonstrating the robust strength of the international jewelry market. Combined with results achieved for Christie's New York jewels auctions in April, June and October, this sale brings the 2012 New York auctions in this category to a grand total of US$163.6 million. The New York auction rooms sold 29 jewels over the US$1 million mark this year, of which 4 jewels achieved over US$7 million.

Throughout the year, investment-quality diamonds have captivated an international audience of collectors, and this week's sale was no exception. The top lot of the day was a rectangular-cut, D color diamond ring of 50.01 carats by Graff, which sold for US$8,370,500 (US$167,400 per carat). We also 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 (US$154,000 per carat). The grand finale was an exceedingly rare fancy reddish-orange diamond of 3.15 carats, the largest diamond of this color ever offered at auction. It soared above the low estimate of US$700,000 to sell for US$2,098,500, a world auction record for a reddish-orange diamond and a world price per carat (US$666,200) for a reddish-orange diamond at auction.