Christie’s Magnificent Jewels sale brought in $19.29 million today in New York. The sale of 208 lots was 84% sold by lot and 85% by value. That last figures means the experts got their estimates right. Six of the top 10 lots were large white diamonds; the top lot was a 30.02 carat diamond.
These numbers, indeed the whole of the large diamond market, show that there’s plenty of cash in the world and it is seeking a safe place to park. Rahul Kadakia, Christie’s Head of Jewelry, said “the market for colorless diamonds remains absolutely firm and very much in line with prices realized for similar stones this time last year.”
That bodes well for the broader art market, especially the so-called masterpiece market.