Christie’s achieves world auction record price per carat for fancy purplish-red diamond

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Christie’s Magnificent Jewels sale in Geneva, which was held this season in a new adapted format, including a live hybrid and online component, achieved a total of CHF36,348,250 /$39,983,075 on November 10, selling 89% by lot, including a new auction world record price per carat for a fancy purplish-red diamond.

The new record price was established for a fancy purplish-red diamond set into a ring by Graff. The 1.05 carat stone sold for CHF2,760,000, translating into a price per carat of $2,640,000.

The top lot of the jewellery auction was an extraordinary rectangular-cut fancy yellow diamond of 28.88 carats, selling for CHF 2,850,000 / $3,135,000 to a private collector.

With much international interest and a bidding battle that lasted over 10 minutes, lot 348, an Art Deco multi-gem clock by Van Cleef & Arpels, sold for CHF1,032,000 / $1,135,200,
achieving over four times its pre-sale low estimate.

“Despite the challenging environment and the first auction at the Four Seasons Hotel des Bergues without clients present in the room, Christie’s saw strong bidding from all over the world, both online and on the telephone,” said Max Fawcett, Christie’s Head of Jewellery Department, Geneva, who was one of the two auctioneers in the sale.

“With a sell-through rate of 89%, it shows the market is robust and there is very competitive demand for exceptional jewels and coloured stones. We look forward to our successful sales in Paris, London, Hong Kong and finally New York to conclude the season.”Christie’s achieves world auction record price per carat for fancy purplish-red diamond

Picture courtesy of Christie’s