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Diamonds Big Sellers At Christie's Auction on 2/17/05.
Trade Reports this morning announced that Christie's had sales at its Important Jewels auction in New York on February 17 totaling $4.3 million, with 88% of lots sold and 90% of expected auction value. Sales at Christie’s St. Moritz auction held February 16 totaled $12.6 million with 76% of lots sold and 67% of expected value.
Rahul Kadakia, jewelry head for Christie’s Americas, commented that strong sales at both auctions “kicked off what promises to be a great season for the jewelry market.”
Tradespeople and individuals contested for colorless, colored diamonds and stones as well as jewelry pieces.
The top lot was an Asscher-cut fancy brown, VVSI diamonds of 66.43 carats, which was sold to a private US buyer for $419,200. The second top lot was a pear-shaped diamond line necklace of 80.60 carats which sold $307,200. Both surpassed pre-sales estimates.
Despite disappointment at the St. Moritz show that a 63.52 carat diamond was not sold, Eric Valdieu, jewelry head for Christie’s Switzerland, said prices obtained and the levels of activity in the first sale of the year are “a good omen for the jewelry auction market.”
The top lot was a three-stone circular-cut diamonds necklace with a total carat weight of 77.88, which sold to the US trade for $725,470. The second was a cushion-shaped diamond ring of 17.23 carats/H/VS1, which sold to the Swiss trade for $476,581 or $27,660 per carat.
A very good start to the 2005 Diamonds, Gems, and Jewelry Auction Season.
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