Top Diamond Items Far Exceed Estimates at Christie's Auction
(November 19, '09, 5:16 Edon Ophir)

 
This fancy vivid, fancy intense
and fancy blue diamond clasp
was sold for $2.67 million at
the Christie's auction

A 62.30 carat pear-shaped, D Flawless diamond was by far the highest seller Wednesday at Christie's Jewel sale in Geneva. The diamond was the star lot of the week, purchased for $8.05 million dollars by Aleks Paul of Essex Global Trading.

 

Christie's Geneva Sale totaled $32 million, with 82 percent sold by lot and 96 percent sold by value. Of the 10 highest-sold items at the sale, eight lots well-exceeded the auction house's pre-sale estimates. 

 

Paul, who went home with the three highest-sold items, purchased a ring set with a 3.30 carat rectangular-cut fancy intense blue and 3.90 carat, E, VS2 diamond for $2.67 million, a 261 percent increase from Christie's highest pre-sale estimate.

 

Reflecting a 294 percent increase from its highest original pre-sale estimate, a clasp set with set with two pear-shaped fancy vivid blue diamonds, a circular-cut fancy intense blue diamond and two circular-cut fancy blue diamonds, was also sold to Paul for $2.67 million.

 

"This show's the clear resurgence of the jewelry market and we look forward to exciting sales in Hong Kong, New York and London in early December," said Jean-Marc Lunel, the head of the sale.