Christie's "Magnificent Jewels" total $24.3 million - Annual US jewelry sales totals a record $120 m Christie's sale today of Magnificent Jewels totaled $24,278,925, capping off a record year of jewelry sales at Christie's New York and bringing our U.S. annual auction sale total to $120 million
News-Antique.com - Dec 12,2007 - Christie's sale today of Magnificent Jewels totaled $24,278,925, capping off a record year of jewelry sales at Christie's New York and bringing our U.S. annual auction sale total to $120 million - the highest figure ever achieved in the American jewelry auction market for the second year in a row. The top lot was a 53.71ct D flawless diamond which sold for $5,753,000 and was immediately dubbed Dubai Magnificence by its new owner.
Sold: $ 24,278,925 £11,785,885 €16,516,275
Lots Sold: 283 Lots Offered: 316 Sold by Lot: 90% Sold by $: 95%
Exchange Rate: $ =£2.05 / € 1.47
Lot Description Estimate ($) Purchase Price Buyer
318 A pear-shaped D color, flawless diamond of 53.71cts $107,000 per caratDubai Magnificence Estimate on Request $5,753,000£2,806,341€3,913,605 Amer Radwan
294 A cushion-cut ruby of 12.43cts $160,000 per carat 800,000-1,200,000 $2,001,000£976,097€1,361,224 Asian Private
300 A pear-shaped D color, VVS1 diamond of 22.73cts$85,500 per carat 1,300,000-1,500,000 $1,945,000 £948,780€1,323,129 U.S. Trade
317 An oval-cut fancy intense pink, VS1, Type IIa diamond of 3.86cts$388,000 per carat 1,200,000-1,500,000 $1,497,000£730,244€1,018,367 European Trade
314 A circular-cut fancy gray-blue, VS2 diamond of 3.09cts$220,000 per carat 250,000-350,000 $679,400£331,415€462,176 CHATILA
311 A rectangular-cut fancy vivid yellow, VS1 diamond of 18.07cts$35,000 per carat 550,000-650,000 $634,300£309,414€431,496 U.S. Trade
285 A pear-shaped D color, VS1 diamond of 7.23cts$76,500 per carat 200,000-300,000 $553,000£269,756€376,190 U.S. Trade
312 A circular-cut faint pink, internally flawless diamond of 7.00cts$55,000 per carat 330,000-350,000 $385,000£187,805€261,905 U.S. Trade
296 A sapphire and diamond cluster ring of 30.20cts, by Cartier$12,750 per carat 300,000-500,000 $385,000£187,805€261,905 Middle Eastern Trade
313 A rectangular-cut fancy grayish blue, VS1 diamond of 2.65cts$127,000 per carat 100,000-200,000 $337,000£164,390€229,251 European Trade
Comment: Rahul Kadakia, Head of Jewelry for Christie’s Americas, “This $24.3m auction capped off a record year of jewelry sales at Christie’s in New York, bringing our U.S. annual auction sale total to $120m, the highest figure ever achieved in the American jewelry auction market for the second year in a row. 2007 stands as an important benchmark with 21 lots surpassing the million dollar mark at Christie’s New York alone and numerous record prices having been achieved at our salerooms worldwide. The jewelry market remains strong with solid prices achieved across the board, particularly for rare white flawless diamonds which have been consistently achieving over $100,000 per carat. The 53.71ct D flawless diamond was immediately named Dubai Magnificence by its new owner, Amer Radwan of Radwan Diamond Corporation in Dubai, who commented, “In a market as competitive as it is, I am thrilled to have been able to acquire such a perfect diamond.”
