Industry News by Nemesis

50ct. Diamond Leads Sales at Christie’s Geneva

May 17, 2018

 

A 50.47-carat Harry Winston diamond ring was the top seller at Christie’s Magnificent Jewels auction in Geneva on Wednesday. 

The cushion brilliant-cut, D-color, VVS1-clarity piece sold for $6.5 million, at the higher end of its pre-sale estimate of $5 million to $7 million, the auction house reported. The final price translates to $129,000 per carat. 

Pink diamonds sold well, with two making the top 10. A rectangular-cut, 8.52-carat, fancy intense purplish-pink, VVS1 stone fetched $6.3 million, crushing its original estimate of $3.5 million to $5 million, while a square-cut, 21.03-carat, light pink, VVS2 diamond went for $2.5 million, also beating its price tag of $1 million to $1.5 million. The sale follows Sotheby’s Geneva auction on Tuesday, at which three pink diamonds set price records. 

Overall, 88% of lots sold, totaling $81.6 million, Christie’s said. 

The timing of the nearby GemGenève show, which ended Sunday, boosted the presence of jewelry enthusiasts in the Swiss city, and contributed to the buzz at the auction, according to Rahul Kadakia, Christie’s international head of jewelry. 

“The inaugural GemGenève jewelry fair attracted 140 exhibitors and many new faces to Geneva, adding to the spirited activity at the sales all week long,” Kadakia noted. “White diamonds, in particular, showed great demand, alongside blue and pink stones and top vintage jewels.” 

Other top lots at the Christie’s sale included a rectangular-cut, 20.49-carat, fancy vivid yellow, VVS1 diamond that sold for $5.6 million. Two Cartier rings — a 5.03-carat pear-shaped, fancy intense blue and a 4.16-carat, pear-shaped, fancy vivid yellow — together sold for $5.2 million, almost double their original estimate of $2.5 million to $3.5 million.

 

Source: Rapaport

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