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29ct. Diamond Sets Online Record at Christie’s

Jul 1, 2020 5:14 AM   By Rapaport News
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RAPAPORT... Christie’s brought in more than $4 million at its latest digital sale, with a 29-carat diamond earning the highest online price ever for a jewel.

The emerald-cut, 28.86-carat, D-color, VVS1-clarity, type IIa diamond ring garnered $2.1 million, beating its $2 million high estimate at the Jewels Online sale, Christie’s said Tuesday. The piece received offers as soon as the sale started on June 16, with a total of 31 bidders competing to acquire it up to the close of the auction on June 30, Christie’s added.

“The sale of this exceptional stone established the record for a jewel sold in an online-only auction, demonstrating greater client confidence in Christie’s digital ability and online sale platform,” said Rahul Kadakia, international head of jewelry at Christie’s.

Meanwhile, items by Graff proved popular, with a cascade necklace by the designer, set with a total of 46.57 carats of diamonds, selling for $275,000 against its $250,000 to $350,000 estimate. A Ladygraff watch featuring a total of 40.86 carats of diamonds fetched $175,000, beating its high estimate of $150,000, while a Graff Butterfly pink-sapphire and diamond watch more than doubled its high estimate of $70,000, garnering $150,000.

Other notable items include a ring set with a cushion-shaped, 27.81-carat, yellow sapphire bracketed by diamonds, and a sapphire, cultured pearl and diamond necklace, which both sold for $32,500, well above their $15,000 high valuations.

In total, Christie’s sold 93% of goods on offer, and 100% by value, with 64% of lots selling at or above their high estimates, it said. Bidders participated from 27 countries across five continents.

Christie’s next online jewelry sale will take place from July 3 to 13, featuring the auction of three pieces by designer Anna Hu. Proceeds from those jewels, donated by Alrosa through its Diamonds That Care campaign, will go to help support healthcare workers during Covid-19. The auction house will also hold a live Fine Jewels sale in Paris on July 8, followed by its Hong Kong Magnificent Jewels auction on July 9.

Image: The 28.86-carat diamond ring. (Christie’s)
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Tags: Alrosa, Anna H, Christie’s, COVID-19, Diamonds That Care, Fine jewels, Graff, Graff Butterfly, Hong Kong Magnificent Jewels, Jewels online, Ladygraff, Rahul Kadakia, Rapaport News, World Record
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