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Friday, May 20, 2011

New World Record Prices at Christie's Geneva



CHRISTIE’S GENEVA 


SETS NEW WORLD RECORD PRICES

FOR A HEART-SHAPED DIAMOND
FOR ANY SAPPHIRE
FOR ANY INDIAN JEWEL

SOLD AT AUCTION


Christie's sale of magnificent jewels in Geneva achieved a total of more than $78M, the highest result for any jewellery auction ever held by the auction house in Switzerland. The top lot was a 56 ct heart-shaped diamond, which sold for more than $10M becoming the most expensive heart-shaped diamond ever sold at auction.


François Curiel, President of Christie's Switzerland :
 “The jewellery sale in Geneva was marked by strong bidding with moments of passionate enthusiasm, exemplified by an antique Imperial Mughal spinel necklace realising more than $5M. While the ‘blue chip’ diamonds and coloured diamonds were in great demand, a 130 ct Burmese sapphire stole the show at $7.1M. Forty-two years after our first sale in Switzerland, Geneva remains a vital, specialised auction centre in today’s global market.”


The TOP LOT of the sale was a 
heart-shaped D colour, internally flawless, type IIa diamond 
of 56.15 cts which sold for US$ 10,946,422, 
becoming a world auction record for any heart-shaped diamond.






Previous record for a heart-shaped diamond:
Heart of the Desert Diamond
A heart-shaped D, internally flawless, diamond of 64.42 cts
Sold on 16 November 1994 at Sotheby’s Geneva for US$ 5,248,846






A cushion-cut Burmese sapphire of 130.50 cts sold for US$7,122,742, achieving a new world record price for a sapphire at auction (illustrated right).


Previous record for a sapphire:
A cushion-cut Kashmir sapphire ring 
of 42.48 cts
Sold on 28 November 2008 at Christie's Geneva for US$ 3,475,210








An Imperial Mughal spinel necklace sold for US$ 5,210,902 setting a world record price for any Indian jewel at auction (illustrated left).


Previous record for an Indian jewel:
A Mughal ruby, emerald and jade covered flask
North India, first half of 17th Century
The Clive of India Treasure
Sold on 27 April 2004 at Christie’s London for US$ 5,210,209






About Christie’s
Christie’s, the world's leading art business had global auction and private sales in 2010 that totaled £3.3 billion/$5.0 billion.  Christie’s is a name and place that speaks of extraordinary art, unparalleled service and expertise, as well as international glamour. Founded in 1766 by James Christie, Christie's conducted the greatest auctions of the 18th, 19th and 20th centuries, and today remains a popular showcase for the unique and the beautiful. Christie’s offers over 450 sales annually in over 80 categories, including all areas of fine and decorative arts, jewellery, photographs, collectibles, wine, and more. Prices range from $200 to over $100 million. Christie’s has 53 offices in 32 countries and 10 sale rooms around the world including in London, New York, Paris, Geneva, Milan, Amsterdam, Zurich, Dubai and Hong Kong. More recently, Christie’s has led the market with expanded initiatives in emerging and new markets such as Russia, China, India and the United Arab Emirates, with successful sales and exhibitions in Beijing, Mumbai and Dubai.


*Estimates do not include buyer’s premium. Sales totals are hammer price plus buyer’s premium and do not reflect costs, financing fees or application of buyer’s or seller’s credits.


Photo Credit:  Denis Hayoun - Diode SA
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