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

Weekend Spotlight On...

This weekend the spotlight is on... Spinel on Flickr:

 http://www.flickr.com/x/t/0096009/photos/ptorraca/4561637257/

 http://www.flickr.com/x/t/0097009/photos/ptorraca/3247627998/

http://www.flickr.com/x/t/0098009/photos/envydesignsjewelry/4400640696/

http://www.flickr.com/x/t/0091009/photos/31192108@N03/4712900639/

Spinel comes in a wide range of colors and is used in various styles of jewelry - most people think of the synthetic spinel used in their class ring but Spinel is a natural beauty!

Want more info about Spinel?  http://dailyjewel.blogspot.com/2010/03/spinel-misunderstood-jewel.html


Do you have a suggestion for a Weekend Spotlight feature?   give me a topic and a website!

Spinel - A Misunderstood Jewel

"Have you seen her all in gold
Like a queen in days of old
She shoots colors all around
Like a sunset going down
Have you seen the lady fairer…..

She's like a rainbow
Coming colors in the air
Oh, everywhere
She comes in colors “

Jagger/Richards

A completely misunderstood gem...in ancient days Spinel was thought to be Ruby...Boomers tend to remember it as a synthetic stone for class rings....in today's terms, we need to work on this stone's "brand".

Spinel is found in many locals worldwide - and in some of the most exotic, gem-rich countries. Today due to a new find in Tanzania this rich and beautiful jewel is finally taking its place beside the finest of gems and doing it with its real name intact!

The name Spinel comes from "spina" the Latin for thorn which is thought to refer to the pointed octahedral shaped crystals. It is the magnesium aluminium member of the larger spinel group of minerals, with the formula MgAl₂O₄.

As with most gems, Spinel in it's purest form is a clear colorless stone - trace elements in the areas where the deposits are found are responsible for the rainbow of colors that this up and comer can be found in. From the palest of pastel lavenders, pinks and blues, warm coffee browns to the most vivid red and gleaming black.

The Crown Jewels of Iran include what are thought to be the finest collection of Spinel, the largest of which is a 500 carat stone. This collection was plundered from India when the Mogul Empire fell. Yet the most famous Spinels, or should I say infamous are the 170 carat "Black Star Ruby" and 361 carat "Timur Ruby" found in the British Crown Jewels.

According to the Color-n-Ice blog by Gemologist and Author, Diana Jarrett:

Only 150 years ago was this gem identified as a separate species from its look-a-like corundum, or ruby. And by 1910 using the Verneuil method of synthesizing, spinel was successfully created in the laboratory.

Today gorgeous gems are coming out of Tanzania and the gem rich Mogok Valley. It's color and hardness make it a great option for jewelry.

Lustre: Vitreous

Crystal: Isometric

Morphology: Usually Octohedral

Hardness (Mohs): 7 1/2 to 8

I want to take a few lines to thank GemCal - Purveyors of Fine Spinel, a company that has been based in the Far East since the 80's, for the stunning gem photos. Their website is a wealth of information, gorgeous gems and for the adventurer the stories and photos of the mine sites.