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Christie's Sells Almost $60M of Jewels at New York Auction

Dec 14, 2015 5:38 AM   By Rapaport News
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RAPAPORT... Christie’s sold $59.7 million of jewelry at its New York auction on December 10, 2015, selling the event’s top lot, the ‘Victory’ diamond, for $4.3 million.

The rectangular-cut, 31.34-carat, D-color ring commemorating the Allied victory in World War II fetched $137,492 per carat at the Magnificent Jewels auction, according to a statement December 10. Christie’s pre-auction estimate valued it at $4 million to $5 million.

A cushion-cut, 43.79-carat, D-color diamond ring sold for $4 million, while a 103.66-carat diamond pendant necklace auctioned for $3.7 million. A rectangular-cut, 28.28-carat, D-color diamond ring went to an online buyer for $3.4 million, a new Christie’s record for a jewel sold to an internet bidder.

A collection of pieces from the estate of late New York socialite Carroll Petrie was 90 percent sold by lot, with “late-evening bidding wars” for some of the most sought after necklaces, including a unique Tony Duquette design from the collection of Wallis Simpson, the Duchess of Windsor.

Separately, a ring with a round, brilliant-cut, 1.74-carat, fancy intense blue diamond sold for $1.9 million, beating its estimate of $700,000 to $1 million. The price of $1.1 million per carat was a record for fancy intense blue diamond, according to the Diamond Investment & Intelligence Center.

In total, 11 lots were auctioned for at least $1 million each, and four fetched more than $3 million apiece. Christie's sold 71 percent by lot and 77 percent by value.
Tags: Auctions, Christie's, Magnificent Jewels, new york, Rapaport News, retail, u.s.
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