RAPAPORT... Sotheby’s worldwide jewelry auction sales in 2015 will
likely be below its record reached last year, according to the auctioneer’s
estimates.
While auction revenues hit $506.5 million since the start of
this year, the luxury seller estimated the final figure for the whole year is
likely to fall below $602.5
million seen in 2014. It cautioned,
however, that the numbers are “not calculated with the same exact information”
as previous periods.
The auctioneer sold $313.3 million at jewelry tenders in
Europe, $100 million in Asia and $93.2 million in North America in the year to
November 23, according to figures released by the company November 23.
Sotheby’s upper estimate for its three remaining jewelry
auctions of the year – Fine Jewels in London on December 1, Fine Jewels and
Jadeite in Hong Kong on December 2, and Magnificent Jewels in New York on
December 9 – is $87.4 million cumulative. If it were to reach this figure, the annual
sales would stand at $593.9 million.
So far in 2015, the company held four jewelry auctions in Europe,
three in North America and two in Asia, with European sales averaging $78.3
million per event, Asian auctions selling on average $50 million and North
American tenders producing an average of $31.1 million, according to the data.
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