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Magnificent Jewels sale rakes in $19 million

December 14, 2007

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London—Diamonds dominated at Christie's Magnificent Jewels sale in London, which yielded nearly $19.1 million with 89 percent of the lots offered sold by value.

Specifically, 194 lots were sold, with 240 lots offered, Christie's said in a press release announcing the results of the Dec. 12 auction.

The top lot was a pear-shaped D flawless diamond of 17.62 carats, which sold for $2,054,456 or $116,000 per carat. Other top sellers included a rectangular-cut D, VS1 diamond of 13.41 carats that went for $1,368,344, and a pair of pear-shaped diamond ear pendants, one a D, VVS2 diamond, and the other an E, VS1 diamond. The ear pendants, weighing 8.60 and 8.21 carats, respectively, brought in $1,231,122.

Raymond Sancroft-Baker, senior European director of Christie's Jewellery in London, said the jewelry auction sales were among the highest ever achieved in London.

"Diamonds dominated the auction, with fierce competition on the telephone, in the room and online," Sancroft-Baker said in a media release. "Art deco jewelry also proved to be very popular, exemplified by the stunning Cartier choker/bracelets which realized $682,000, exceeding their pre-sale estimate by a factor of five."
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