Christie’s Jewelry Sales
4/14/2011 4:50:10 AM
Christie’s jewelry sales came in at over $31 million at their annual auction, Christie’s New York Magnificent Jewels sale. Their biggest item in gemstone jewelry up for sale was, in fact, not sold. The item, a 10.09-carat purple-pink diamond, has an estimated value of $12 to $15 million – not the most recession friendly of options.
Eight percent of the sale was sold by lot and seventy percent was sold by value.
Raul Kadakia, the head of Jewelry at Christie’s, told Forbes Magazine,
“While we were disappointed that the 10-carat, purple-pink diamond did not find a buyer, top-quality white, blue, pink and yellow diamonds fared very well.”
He also said:
“Demand for large colored diamonds from connoisseurs and investors continue to reach new heights… And we look forward to starting the spring season with this exceptional group of top-colored diamonds, curated with the specific desires of today’s collectors in mind.”
One diamond that fared especially well was a 3.25-carat square, emerald-cut, fancy intense IF, blue diamond. It sold for three and a half million dollars.
The highest ranking diamond was a rectangular cut, internally flawless one. At a show stopping 37.16 carats, the diamond sold to a private collector for four and a half million dollars, which comes out to about one hundred and twenty thousand dollars per carat.
Five diamonds were sold at over a million dollars each.
There were also two rings made out of sapphire that garnered a lot of attention at the sale. One of which was an Art Deco Kashmir 10.06 carat sapphire ring from Tiffany & Co., from around the 1920s, which was sold for almost seven hundred and fifty thousand dollars (seventy four thousand dollars per carat). In addition, a forty carat cushion cut Burmese sapphire rand diamond ring. It sold for over five hundred thousand dollars.
Out of the two hundred and eighty lots that were offered, two hundred and twenty four lots were sold, which equated to a selling rate of about eighty percent.
Next month, Sotheby’s will hold an auction in Geneva, Switzerland, where it will auction off the most expensive tiara to have ever been sold. Its price is somewhere between five and ten million dollars.
Related Articles:Brad Pitt Proposes to Angelina Jolie With Diamond RingSunday, Apr 15 2012 4:46AM Diamond news agency,
Shira
 |
Brad Pitt Proposes to Angelina Jolie With Diamond Ring Brad Pitt and Angelina Jolie are officially engaged Pitt has proposed to Jolie with a diamond ring estimated at $250000
|
Invest in Diamonds Advise Experts Thursday, Apr 5 2012 5:10AM Diamond news agency,
Shira
|
Invest in Diamonds Advise Experts Diamonds are a good investment opportunity for those looking to diversify their portfolios In 2011 the RapNet Diamond Index (RAPI) for one carat polished diamonds outpaced gold Diamond supply restrictions are expected to drive the price of diamonds up in the coming years and demand is expected to increase by 50% as a result of growing demand in the Chinese and Indian markets
“Over the past decade cross-asset correlations have nearly doubled (but) diamonds have exhibited very low correlations to other assets making them an attractive source of diversification They have almost no correlation to anything else – commodities gold equity markets” said David Riedel President of equity research firm Riedel Research Group
Experts claim that both loose diamonds and diamond rings work as investments
China and India are currently the top consumers of gold in the world The rising middle class in these countries and a growing population of young people is expected to considerably drive up the global demand for diamonds Sotheby's recent “Magnificent Jewels” sale in Hong Kong illustrated booming interest in diamonds in Asia The auction highlight was the sale of a 801-carat blue diamond ring for $127 million
“We expect cultural trends throughout emerging markets to drive demand for diamonds further A major trend increasing demand among the Chinese is a desire to display wealth” said Riedel
Some critics claim however that diamond investment is more suited toward industry professionals or those with expert diamond knowledge Investment in large high-grade diamonds are primarily the realm of wealthy international investors seeking alternative investments that are not correlated to the securities markets and not for individuals without prior diamond knowledge cite critics
...
|
Russian Diamond Industry Seeks Business Opps in India Tuesday, Apr 3 2012 7:02AM Diamond news agency,
Shira
 |
Russian Diamond Industry Seeks Business Opps in India Russian diamond jewelry industry players have come to Surat India to explore business relationship opportunities with local companies
|
De Beers Reports Global Diamond Sales IncreaseThursday, Mar 29 2012 10:44AM Diamond news agency,
Shira
 |
De Beers Reports Global Diamond Sales Increase According to De Beers research global diamond jewelry sales increased by 10 percent in 2011 This primarily spurred by continued growth in China
|