Record-Breaking Jewelry Auction at Christie's Geneva: $72 Million Grossed as Every Lot Finds a Buyer
A High-End Jewelry Auction Yields Stunning Results
The Christie's Geneva Magnificent Jewels auction saw a spectacular showcase of rare and valuable gems, held at the Hotel des Bergues on Wednesday.
First off, this was a "white glove" sale, meaning all lots found buyers. Rare, isn't it? The auction garnered over $72.3 million with 77 lots surpassing their high estimate. Now, that's a feat!
The star of the show was a ring crowned with a 6.24-carat fancy deep blue diamond, selling for more than $12.7 million after five intense bidding rounds. With VVS2 clarity, this potentially flawless gem fetched over $2 million per carat—a record-breaking price for a deep blue diamond. And who was the lucky buyer? None other than Moussaieff Jewellers, a prestigious London-based gem house catering to royalty, bigwigs, celebrities, and rich Israelis. Known for nabbing rare stones at auctions, Moussaieff Jewellers boasts a collection that includes the 6.04-carat flawless Moussaieff Blue Diamond and the 5.11-carat Moussaieff Red Diamond, the biggest known red diamond in the world. Alisa Moussaieff, a co-founder of the firm, expressed her delight, stating, "This diamond will be a fitting addition to our private collection."
While the auction gained significant attention for the deep blue diamond, it also showcased a private collection of 21 jewels by JAR, a renowned contemporary high jewelry house. Dubbed "A Bouquet of Gems: A Superb Collection of Jewels by JAR," this portion of the auction netted over $7.1 million, with several pieces making it to the top 10 lots.
The highlight was the "Apricot Blossom" bangle, fourth on the list of highest lots, fetching over $2.8 million—more than four times its high estimate. Next up was an "extraordinary" diamond necklace, selling for about $2.6 million, making it the fifth most valuable lot in the sale.
Christie's noted a strong interest in colored diamonds and gems, with a particular preference for vibrant and rare ones. One such standout was a Graff-designed ring adorned with a 3.68-carat fancy, vivid blue oval-shaped diamond, selling for approximately $5.8 million (price per carat: more than $1.5 million). Graff, the famed London diamond jeweler, reportedly purchased this piece, making it the number 2 lot of the sale.
Another noteworthy gem was a 10.17-carat Burmese, cushion-shaped ruby ring embellished with round diamonds, selling for over $4.1 million. It was the number 3 lot of the auction.
The event left Rahul Kadakia, Christie's International Global Head of Jewels, in awe: "Today's sale marked a truly extraordinary moment in auction history. The exceptional JAR collection, along with a remarkable array of exquisite gems, achieved top prices in a packed sale room... The atmosphere was electric as both Christie's and clients reveled in the moment."
- The jewelry industry witnessed a significant milestone with Moussaieff Jewellers, a high-end gem house known for their lavish collections, purchasing a record-breaking deep blue diamond at the Christie's auction, a testament to their keen eye for rare gems.
- The auction not only cemented Moussaieff's reputation but also demonstrated the growing interest in the finance sector for colored gems, as seen in the high demand for vibrant and rare ones, such as the Graff-designed fancy vivid blue oval diamond that fetched over $5.8 million.
- Amidst the buzz of the fashion-and-beauty world, the business of jewelry took a leap forward, with Christie's Geneva Magnificent Jewels auction, showcasing the lifestyle of both the rich and famous, as well as luxury businesses like Moussaieff Jewellers and Graff, further underscoring the enduring allure of the industry.
