Friday 17 May 2013

Record-breaking Sales at Christie's Geneva Auction

Record-breaking Sales at Christie's Geneva Auction

(IDEX Online News) – The auction records just keep getting smashed. The latest record-breaking sale took place at Christie’s in Geneva on May 15 when a D color, flawless, 101.73-carat diamond sold for $26.7 million ($254,400 per carat), setting a new world record at auction for a colorless diamond.

That lot – renamed the “Winston Legacy” after its new owner Harry Winston – helped the Magnificent Jewels sale realize a total of $102.14 million, selling 86 percent by lot and 93 percent by value, the highest result ever for a various-owner jewelry auction at Christie’s.

“Harry Winston acquired the most perfect diamond ever offered for sale at auction, the ‘Winston Legacy’, continuing the tradition of buying and selling only the very best, a trait of the founder Mr. Winston himself,” said Rahul Kadakia, head of Jewellery, Christie's Switzerland and Americas.

“World record prices were set for diamonds, pearls and sapphires, thereby firmly establishing the international appetite for the most beautiful gems and jewels in a record-breaking $102 million auction at Christie's Geneva."

A total of 20 lots sold for a price exceeding $1 million, with 147 buyers coming from 31 countries across five continents.

‘The Star of Kashmir,’ a cushion-shaped Kashmir sapphire of 19.88 carats, sold for a world auction record per carat for a sapphire at $175,202 per carat for a total of $3.48 million.

Another record breaker was a fancy red, VS2 diamond ring of 1.92 carats sold for $3.25 million ($1.6 per carat), which sold for a world auction record price for a red diamond.

Pearls were also popular with a single-strand natural pearl necklace selling for a record price of $8.45 million.