Latest News

Save E-mail Print Most Popular RSS Reprints

Latest Christie's auction sells 50 percent by lot

November 21, 2008

Similar Stories | Topics

Geneva--A day after the three top diamond lots failed to sell at Sotheby's auction in Geneva, a Christie's auction in the same city sold only 50 percent by lot.

"Jewels: The Geneva Sale," held on Thursday in the Swiss city, totaled $22.5 million, with the level of prices falling 20 percent-30 percent below what was realized last spring, according to a release from Christie's.

Despite difficult economic times, the top lot sold, a 42.28-carat Kashmir sapphire that went for $3.49 million or $82,500 per carat, setting a new world record price for a sapphire sold at auction.

Other lots sold included a Van Cleef and Arpels ring featuring a 22.9-carat rectangular-cut, D-color, potentially internally flawless diamond, purchased by a private European buyer for $2.04 million, and a 63.22-carat rectangular-cut fancy intense yellow diamond ring, which fetched $1.3 million.

Eric Valdieu, senior vice president of Christie's Switzerland, acknowledged that it is a difficult market, but also noted the record sale price for the sapphire and overall strong bidding.

"Even though the level of prices is 20 to 30 percent below what it was in the spring, there was healthy bidding in the room, resulting in a sale that totaled $22.5 million," he said. "Good prices were paid for natural pearls and vintage jewelry by an international audience with a strong contingent of Indian, Russian, Middle Eastern and continental European buyers."

Among the top 10 lots was a Bulgari natural-pearl and diamond necklace, which was snapped up by the Indian trade for $522,500.
Save E-mail Print Most Popular RSS Reprints
Post a Comment
* Required field
* Author:
* Comment:
 

More Brand Profiles

Movado Lincoln Center Watch
Movado watch fetes 50 years of pirouettes, solos

A night out at the New York City Ballet or Jazz at Lincoln Center is bound to be memorable, but Movado hopes to help make it more so with a new version of its iconic "Museum" watch.  Read More

Raymond Weil forms U.S. distribution company
More News

More Like This

Patek Philippe sets record price at Antiquorum sale
May 11, 2009 | National Jeweler Network
Patrizzi and Co. auction nets over $6.7 million
April 22, 2009 | National Jeweler Network
Antiquorum's Geneva auction nets $12.7 million
November 18, 2008 | National Jeweler Network
Cartier watches now bear Geneva Seal
April 01, 2008 | National Jeweler Network
Rare pocket watches on block at Sotheby's
October 03, 2007 | National Jeweler Network
TOPICS
Auctions

Design Portfolio

advertisement

Video

Small multi video player located on right rail of NJN site

advertisement

Sponsored by:

Retailer Toolbar

America's Best Jewelers
Join the ONLY Social Network for Jewelry Retailers. Get access to expert content, peer best practices, and more.
Start networking today.
Newsletters
Newsletters
Topic-specific newsletters that deliver the latest news on jewelry, diamonds, wholesale operations and high-volume buying directly to your in-box.
Reader Connect
ReaderConnect
Supplier information presented with every article, bringing you related, actionable content on every topic.
Jewelry Yellow Pages
Yellow Pages
A comprehensive listing of associations, organizations, suppliers and services for the jewelry industry.
Classifieds
Classifieds
A comprehensive listing of job postings, product offerings and other materials for sale for the jewelry industry.
NJN Customer Connect
CustomerConnect
The most sophisticated suite of marketing services available for jewelry retailers, from Internet tools to data marketing.

advertisement