No Golconda Blue, but Christie's still Raises $72m
May 15, 25
(IDEX Online) - Christie's Geneva sold 100 per cent of lots at its Magnificent Jewels yesterday (14 May) and raised $72.3m - despite the withdrawal of the sale's main attraction, the 23.24-carat Golconda Blue.
It carried a $35m to $50m estimate and would have been the largest fancy vivid blue diamond ever offered at auction. But consignors pulled the gem with less than three weeks' notice, saying it would be sold a family member instead.
The new top lot was another blue, an emerald-cut 6.24-carat fancy deep blue diamond (pictured) that was sold to London-based Moussaieff Jewellers for $12.7m. Christie's said it set an auction record price per carat for a deep blue jewel.
A fancy, vivid blue oval-shaped diamond ring of 3.68 carats set by Graff, sold for $5.8m to Lawrence Graff.
And a private collection of 21 pieces by JAR (Joel Arthur Rosenthal) sold for $7.1m, with a diamond necklace selling for $2.8m, almost five times its pre-sale estimate.
Christie's said the auction raised $72.3m, with 77 per cent of the 115 lots selling above their high estimate. By comparison, last year's Magnificent Jewels auction raised $54.2m.