"Enduring Demand": Christie's Sellout Online Jewelry Auction
October 24, 25
(IDEX Online) - A 16.58-carat Kashmir sapphire ring sold yesterday (23 October) for $1,016,000 at Christie's New York, mid-way between its $800,000 to $1.2m pre-sale estimate.
It led the Jewels Online sale, which raised a total of $10,580,370 and achieved a 100 per cent sell-through by value - all 177 lots sold, and all for above their low estimate.
A 24.99-carat emerald-cut diamond ring (J color, VS1 clarity) sold for $762,000, above its $400,000 to $600,000 estimate.
And a sapphire ring (5.82 carats, modified octagonal step-cut, triangular-shaped diamonds, platinum) sold for $711,000, way above its $200,000 to $300,000 estimate.
"These results highlight the continued strength of the online jewelry market and the enduring demand for rare and exceptional pieces," said Christie's.
It said more than a quarter of participants were new to Christie's, a testament to the reach of its online auctions.
Pic shows the 16.58-carat Kashmir sapphire ring.