Diamonds.net drills down in Christie’s first half of 2009 numbers to find that the company still sees strength in diamonds, especially colored diamonds and large white stones. These prized stones have been used as a safe-haven store of value in troubled times. Despite overall sales declines at the auction house and 53% decline in the Jewelry, Jadeite and Watch category, Diamonds.net points to this company statement: “Diamond prices remained very much in line with those achieved at the same time last year.”
Christie’s jewelry sales during the period included the Geneva important watches sale valued at $13.7 million and sold 93 percent by lot and value, and the Geneva jewelry sale, which totaled $19.6 million with a perfect pear-shaped diamond of 30.52 carats selling for $3.1 million.
Two jewelry sales took place in New York realizing a total of $30.4 million. Highlights in New York included a perfect pear shaped diamond of 30.02 carats, which went for $4 million. Christie’s added that colored diamonds continued to be in strong demand with a pear-shaped blue flawless gem of 6.29 carats selling for $3.5 million.
The Christie’s Hong Kong jewels sale closed with a value of $34.2 million selling 90 percent by lot and 95 percent by value. The company stressed that the auction demonstrated “continued enthusiasm from Asian collectors for fine gems and jewels.” Christies Hong Kong also generated $7.5 million at its watch sale. The Dubai jewels and watches sale realized $4 million and included a kite-shaped 5.01 carat D color, internally flawless diamond pendant which sold for $194,500.
Christie’s Jewelry, Jadeite & Watch Sale -53% in 1H (Diamonds.net)