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Christie’s Paris Auction Smashes Estimates

Dec 7, 2016 3:28 AM   By Rapaport News
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RAPAPORT... Christie’s sold 91 percent by value and 84 per cent by lot at a Paris jewelry auction, with nearly half of the lots beating their pre-sale guidance.

The Paris Jewels sale fetched $4.1 million (EUR 4 million) on Tuesday, with 45 percent of items sold above their estimated prices, the auction house said. The most expensive individual item was a rectangular, 7.93-carat, D-color, VVS1-clarity diamond that was sold for $587,382, or $74,071 per carat, surpassing its upper estimate of $476,685.

A collection of 20 jewelry pieces designed by René Boivin fetched a combined $605,416, almost double its guidance of $300,312. The priciest item in the set was an elephant-themed necklace comprising colorless and yellow diamonds, which was bought for $155,187 – well above its upper estimate of $52,965.

In addition, a pair of ruby and diamonds bracelets designed by Cartier sold for $307,727.

The auction drew buyers from 27 different countries and 5 continents, with 82 registered bidders on Christie’s Live, the online bidding platform.

The sale comes just before of Christie’s much larger Magnificent Jewels auction in New York which takes place on Wednesday, headlined by a rectangular, 51.35-carat, D-color, VVS1-clarity diamond estimated at $5 million to $7 million.
Tags: Auctions, Christie’s Live, Christie's, Magnificent Jewels, new york, paris, Paris Jewels, Rapaport News, René Boivin
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