Christie’s New York achieves over $163 million in jewellery auction sales in 2012
NEW YORK, December 11, 2012 – Christie’s New York saw a stellar finale to its fall auction season on December 10, with a blockbuster 300-lot sale of Magnificent Jewels at its flagship Rockefeller Plaza saleroom.
The day-long sale realized a total of US$32,541,625 (£20,175,808/ €25,057,051) with strong sell-through rates of 84% by lot and 86% by value. This sale result, combined with robust results achieved for Christie’s New York jewels auctions in April, June and October, brings the 2012 New York jewelry auction total to over US$163 million.
The top lot of the December 10 sale was a rectangular-cut, D-color, potentially flawless diamond ring of 50.01 carats by Graff. Estimated at $7-10 million, the ring fetched US$8,370,500 (£5,189,710/ €6,445,285) or US$167,400 per carat. The buyer of the stone was Laurence Graff.
“This is the third time that I have owned this beautiful diamond and I am as thrilled today as I was the first time. Diamonds of this exceptional caliber have a life and legacy that carries on beyond us all,” noted Mr. Graff after the sale. “This is one of the finest D-color diamonds in the world and I am delighted to have it back again.”
Earlier in the sale, Christie’s realized a new per-carat record for a Kashmir sapphire at auction, with the sale of a superb 8.91 carat sapphire for US$1,370,500 (£849,710/ € 1,055,285) or US$154,000 per carat.
The final lot of the season was an exceedingly rare fancy reddish-orange diamond of 3.15 carats. The unique stone is the largest reddish orange diamond ever graded at the Gemological Institute of America (GIA). Exhibiting two of the rarest hues in the world of diamonds, this rarity soared beyond its low estimate of $700,000 to sell for US$2,098,500 (£1,301,070/ €1,615,845), setting a new world auction record for a reddish-orange diamond and a new per-carat record price of US$666,200.
For the year in New York, Christie’s sold 29 jewels over the $1 million mark, of which 4 jewels achieved over $7 million. In April, Christie’s garnered headlines worldwide with the highly successful sale of the jewelry collection from the estate of the reclusive American copper heiress Huguette M. Clark. The collection, comprised of 17 exceptional jewels from the Art Deco period, realized $20.8 million and saw a new U.S. auction record achieved for The Clark Pink, the most expensive pink diamond ever sold at auction in the United States.
Rahul Kadakia, Head of Jewelry, Christie’s Americas and Switzerland, commented: “A D color diamond of 50.01 carats last sold by Christie’s New York in 2005 and purchased by Laurence Graff for $4.2 million has once again been purchased by Mr. Graff for $8.4 million, demonstrating the increasing strength and stability of the global diamond market. Over $163 million of superb jewels sold under our gavel this year at Christie’s New York, with new and established collectors competing at the very highest levels.”