News

Advanced Search

Auctioneers Tickled Pink by 2017 Jewelry Sales

Dec 20, 2017 7:55 AM   By Rapaport News
Comment Comment Email Email Print Print Facebook Facebook Twitter Twitter Share Share


RAPAPORT...
Christie’s and Sotheby’s saw combined jewelry sales of more than $1 billion this year as major pieces smashed auction records.

While neither company released a year-on-year comparison, Christie’s described 2017 as a “stellar year” for its jewelry department. Christie’s reported worldwide jewelry sales of $556.7 million for the year, while Sotheby’s garnered $551.3 million, it said.

Both auction houses recorded significant milestones this year, with Sotheby’s selling the CTF Pink Star diamond (pictured) for a world-record $71.2 million. It also achieved the highest price for earrings in auction history, selling the Memory of Autumn Leaves and the Dream of Autumn Leaves for a combined $57.4 million.

Meanwhile, Christie’s sale of the 14.93-carat Pink Promise for $32.2 million in Hong Kong earned the highest average price per carat for a pink diamond.

While the bulk of Christie’s sales were at live auctions, the company has seen “immense growth” in online auction sales to $8.9 million this year. Sotheby’s said buyers bought 23% of lots online.

Some 32% of Sotheby’s jewelry buyers this year were bidding at the auction house for the first time, the company added.
Tags: auction, Christie’s, CTF Pink Star, Dream of Autumn Leaves, Jewelry, Memory of Autumn Leaves, Pink Promise, Rapaport News, Sotheby’s
Similar Articles
Rapaport LogoRapaport Weekly Market Comment
Jul 19, 2018
Slow trading, with dealers in summer vacation mode. Bargain-hunters asking for higher discounts during quiet
Plump ClubPlumb Club Names New President
Jul 18, 2018
The Plumb Club, an alliance of suppliers to the jewelry, diamond and watch industries, has elected Michael
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First
© Copyright 1978-2018 by Martin Rapaport. All rights reserved. Index®, RapNet®, Rapaport®, PriceGrid™, Diamonds.Net™, and JNS®; are TradeMarks of Martin Rapaport.
While the information presented is from sources we believe reliable, we do not guarantee the accuracy or validity of any information presented by Rapaport or the views expressed by users of our internet service.