Massive Success at Christie's Geneva Jewelry Auction: Total Sales Reach $72 Million with All Items Selling Out
Auction Fever at Christie's Geneva Magnificent Jewels
The recent auction at Christie's Geneva was a buzzing spectacle, held at the Hotel des Bergues. This auction, comprising 115 lots, was a "white glove" sale, which means all lots found buyers, a rarity during international jewelry auctions. The total sale value soared past $72.3 million, with a whopping 77 lots selling above their high estimate - another noteworthy achievement!
Topping the list was a magnificent ring featuring a 6.24-carat fancy deep blue diamond that fetched more than $12.7 million after a thrilling five minutes of bidding. This gem, with VVS2 clarity, sold for more than $2 million per carat, setting a new auction record for a deep blue diamond.
The sale didn't just catch attention because of the record-breaking price, but also due to the illustrious buyer - Moussaieff Jewellers. This London-based family-owned high jewelry house caters to Middle East royalty, influential politicians, international celebrities, and affluent Israelis. They are well-known for their purchases of rare stones at auctions, including the 6.04-carat flawless Moussaieff Blue Diamond and the 5.11-carat Moussaieff Red Diamond, the world's largest known red diamond[1]. Alisa Moussaieff, co-founder of the firm, expressed her delight, stating, "This diamond will be a fitting addition to our private collection."
In addition, the auction featured a private collection of 21 jewels by the celebrated contemporary high jewelry house, JAR, headed by American-French artist Joel Arthur Rosenthal. Dubbed "A Bouquet of Gems: A Superb Collection of Jewels by JAR," this collection generated more than $7.1 million, with several pieces making it to the top 10 lots of the sale.
Leading the charge was the "Apricot Blossom" bangle, a floral display featuring round diamonds, reddish orange and yellow enamel, blackened silver, yellow gold, and bronze. It sold for a staggering $2.8 million, well beyond its high estimate. Following close behind was a diamond necklace, described as "extraordinary" by the auction house. This piece, marked by approximately 16 old-cut and round diamonds set in 18k rose gold and blackened silver, fetched approximately $2.6 million, making it the fifth most valuable lot in the sale.
Christie's reported a robust demand for colored diamonds and colored gemstones throughout the auction, particularly for the vibrant and rare varieties. Among the highlights was a ring by Graff featuring a 3.68-carat fancy, vivid blue oval-shaped diamond. This stunning piece was bought by Lawrence Graff, the founder of Graff Diamonds, a renowned London diamond jeweler[2][3]. It fetched more than $5.8 million, giving it a sky-high price per carat of over $1.5 million.
Another captivating highlight was a 10.17-carat Burmese, cushion shaped ruby, nestled on an 18k gold ring and surrounded by round diamonds. It sold for over $4.1 million, making it the third most valuable lot of the auction.
The magnitude of this sale didn't escape Rahul Kadakia, Christie's International Global head of Jewels, who declared, "Today's sale marked a truly extraordinary and memorable moment in auction history." Indeed, it was a spectacle that left hearts racing and pockets lighter!
Insights:
- Moussaieff Jewellers, the buyer of the 6.24-carat fancy deep blue diamond, is a family-owned high jewelry house that specializes in purchasing rare stones at auctions[1].
- Lawrence Graff, the owner of Graff Diamonds, purchased the 3.68-carat fancy, vivid blue oval-shaped diamond ring[2][3].
- The JAR collection, which fetched more than $7.1 million, was named "A Bouquet of Gems: A Superb Collection of Jewels by JAR"[1].
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- The impressive sale at Christie's Geneva, which included a purchase by Moussaieff Jewellers, showcases the intersection of finance, lifestyle, and entertainment.
- The auction of the colorful gems, diamonds, and jewels by JAR, along with the record-breaking prices for the blue diamonds from Graff and Moussaieff, underscores the ongoing fascination with jewelry in the realm of lifestyle and entertainment finance.
