Thursday 13 November 2014

Christie's Geneva Jewel Auction Garners $150M

Christie's Geneva Jewel Auction Garners $150M

Nov 12, 2014 7:52 AM By Ronen Shnidman RAPAPORT... Christie's Geneva sale of important jewels garnered total sales of $150,216,738 and was 89 percent sold by lot. The auction house said that the event had the highest total sales value of any important jewel auction held to date.

The top lot was a necklace with a sapphire pendant called the Blue Belle of Asia, which set a record price of $17.2 million for sapphire jewelry sold at auction. The 392.52-carat, cushion-shaped sapphire is suspended from a diamond tassel pendant attached to a diamond necklace and mounted in gold.

The highest selling jewelry piece made with only diamonds and precious metals was a pair of colored diamond ear pendants by Bulgari that sold for $16.1 million.

The pendants are comprised of a cluster of marquise and pear-shaped diamonds weighing 19.28 carats in total. A pear-shaped, 6.95-carat, SI2, fancy vivid blue, diamond mounted in platinum and gold is suspended from one pendant, and a pear-shaped, 6.79-carat, VS2, fancy vivid pink diamond is suspended from the other pendant and also mounted in platinum and gold.

Another diamond jewel that sold for a hefty price was a kite-shaped, 15.62-carat, VS1, fancy pink diamond ring set in platinum and gold that garnered $6.2 million, approximately double its presale estimate.

Rahul Kadakia, the international head of Christie’s jewelry, said that over 600 registered buyers from more than 30 countries attended the Christie’s Geneva auction.