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No Slowing In Colored Gem Market As Sotheby’s Geneva Jewels Sets New Record With $175m Sale

May 17, 2016 by Marion Maneker

Sotheby's Sale of Magnificent Jewels and Noble Jewels 17.05.16

Magnificent Jewels and Noble Jewels in Geneva made $175,097,419 / CHF 171,018,625, above the recent record of $160.9m (CHF 149.9m) also set by Sotheby’s in the equivalent sale in May 2015. Here’s Sotheby’s release:

The sale was led by the spectacular “Unique Pink”, a supremely rare Fancy Vivid Pink diamond weighing 15.38 carats that sold for an exceptional $31,561,200 / CHF 30,826,000 (price per carat: $2,052,094).

The Unique Pink (ii)

Speaking after the sale, David Bennett, Worldwide Chairman of Sotheby’s International Jewellery Division, commented: “Exactly one year after having set the world record for a jewellery sale, Sotheby’s Geneva has raised the bar once again with a great sale and a great result for the Unique Pink. This was a sale that had the perfect mix of great gemstones and jewels, the vast majority of which were sourced from private collections.”

SALE OVERVIEW

  • 83% sold by lot
  • Three lots sell for over $10 million. Six lots sell for over $5 million.
  • New record for an online purchase in a live auction at Sotheby’s (Lot 462, a pair of Important Pear-Shaped Fancy Blue and Fancy Orangy Pink Diamond Earrings totals $6 m / CHF 5.9 m).
  • 41% increase in the number of lots sold online compared to the equivalent sale last year.
  • Participants came from 45 countries.
  • 25% of the total number of participants came from Asia.
  • 70% of lots sold above high estimate.
  • Pre-sale estimate: $145.4 – 223.8m / CHF 142 – 218.6m.

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Filed Under: General

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