With $93 million jewelry sale, jewel market is healthy, says Christie's

Record ID: 876276

  • Title: With $93 million jewelry sale, jewel market is healthy, says Christie's
  • Date: 17th May 2017
  • Summary: GENEVA, SWITZERLAND (MAY 17, 2017) (REUTERS) BUILDING AND BOATS NEAR BRIDGE FERRARI AND JAGUAR CARS PARKED IN FRONT OF FOUR SEASONS HOTEL JAGUAR FERRARI AND JAGUAR PARKED ON ROAD CHANDELIER IN AUCTION ROOM PEOPLE SITTING IN ROOM DURING CHRISTIE'S SEMI-ANNUAL JEWEL AUCTION GENEVA, SWITZERLAND (MAY 11, 2017) (REUTERS) VARIOUS OF "LA LEGENDE" 92 CARAT D HEART-SHAPED DIAMOND NECKLACE BY BOEHMER ET BASSENGE GENEVA, SWITZERLAND (MAY 17, 2017) (REUTERS) AUCTION ONGOING VARIOUS OF AUDIENCE FILMING WITH PHONES SCREEN SHOWING BID INCREASING FOR "LA LEGENDE" 92 CARAT D HEART-SHAPED DIAMOND NECKLACE (SOUNDBITE) (English) CHRISTIE'S INTERNATIONAL HEAD OF JEWELLERY RAHUL KADAKIA SAYING, TALKING ABOUT THE DIAMOND: "Sold for you, Thomas, 13 million (Swiss) francs." DOG AUCTION ONGOING GENEVA, SWITZERLAND (MAY 11, 2017) (REUTERS) VARIOUS OF 15.03 CARAT OVAL CUT BURMESE RUBY GENEVA, SWITZERLAND (MAY 17, 2017) (REUTERS) (SOUNDBITE) (English) CHRISTIE'S INTERNATIONAL HEAD OF JEWELLERY RAHUL KADAKIA SAYING, TALKING ABOUT THE RUBY: "At 8 million (Swiss) Francs, 8 million 500 thousand 9 million, 9 million francs five hundred thousand, 10 million, at 10 million francs now, for 10 million Swiss francs." BID FOR THE RUBY GOING UP AUDIENCE FILMING THE BIDING WITH THEIR PHONES PEOPLE TAKING BID ON THE PHONE (SOUNDBITE) (English/French) CHRISTIE'S INTERNATIONAL HEAD OF JEWELLERY RAHUL KADAKIA SAYING, TALKING ABOUT THE RUBY: "11 million 200 thousand francs, 11 million 200 thousand. Last chance, Julian, for the bid over the phone. 11.2, and selling, 11 million 200 thousand francs (as hammer goes down). We sale, your bid, thank you very much, 11.2 million francs." AUCTION ONGOING (SOUNDBITE) (English) CHRISTIE'S CHAIRMAN FOR ASIA PACIFIC, FRANCOIS CURIEL SAYING: "As the stock market in New York was taking a dip this morning, we just sold 93 million dollars worth of jewellery, with several big stones selling for more than 10 million dollars. More than 90% of the sales found a buyer, so that is the proof that we are dealing with a very healthy, strong jewellery market." AUCTION ONGOING SCREEN SHOWING BIDS INCREASING AUCTION ONGOING (SOUNDBITE) (English) CHRISTIE'S CHAIRMAN FOR ASIA PACIFIC FRANCOIS CURIEL SAYING: "Tonight, there was many European buyers, and many American buyers. There were quite a few Chinese buyers, but maybe a bit less than we had normally. But America and Europe dominated." CHANDELIER
  • Embargoed: 1st June 2017 00:06
  • Keywords: ruby diamond auction jewellery christie's
  • Location: GENEVA, SWITZERLAND
  • City: GENEVA, SWITZERLAND
  • Country: Switzerland
  • Topics: Arts / Culture / Entertainment,Human Interest / Brights / Odd News
  • Reuters ID: LVA0016H8B32X
  • Aspect Ratio: 16:9
  • Story Text:With a $93 million jewellery sale, Christie's auction house said on Wednesday (May 17) this showed that the jewellery market was healthy and strong, though the two pieces leading its semi-annual luxury sales did not reach their top estimate sale prices.
    Leading the 250 pieces semi-annual sale, the 92 carat flawless heart-shaped diamond "La Legende" necklace by Boehmer and Bassenge, estimated between $14 million and $20 million, sold for just under $15 million ($14,989,012 including taxes).
    The 15 carat Burmese oval cut ruby, estimated between $10 and $15 million, sold for just under $13 million ($12,942,775, premium price including taxes).
    However, a few coloured diamonds did sell beyond expectations, reflecting the growing interest for these rare jewels, especially blue ones.
    Estimated between $2.5 million and $3 million, a 7.97 carat cushion-shaped fancy intense blue diamond sold for more than four times its estimated value, and went under the hammer at over $12,700,000, setting a new world auction record per carat.
    Christie's refused to disclose the identity of the buyers of its two major pieces, but indicated that many of the buyers, were from Europe and the United States, while Hong Kong and Asian buyers dominated last year sales.
    On Tuesday (May 16), at rival auction house Sotheby's, two dazzling pink and blue pear-shaped diamonds were together sold for more than $57 million to a private buyer.
    Last month, a 59.60 carat pink diamond sold for a record $1.2 million in Hong Kong.
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