In a sign of these socially distanced times, Christie’s Jewels announced today that it will present the highest valued lot ever offered in one of its online sales—and the largest D color diamond ever to be auctioned online—in its upcoming Jewels Online sale.
The virtual auction, scheduled for June 16–30, will be led by a diamond ring featuring an emerald-cut 28.86 ct. D color diamond with VVS1 clarity. The diamond belongs to the rare type IIa category, the classification for the most chemically pure diamonds, which comprises less than 2% of all diamonds. The ring is estimated to sell for between $1 million and $2 million.
Christie’s has made several high-ticket jewelry sales online since the COVID-19 pandemic began and many nations enacted stay-at-home orders. And its sell-through rates have been excellent, ranging from 89% to 99% since February.
Jewels in its online auctions routinely overshoot their estimated prices. A pair of Graff ruby and diamond hoop earrings with a low sales estimate of $8,000 sold for $187,500 in the house’s February auction, to give one example. And its April-May sale achieved the highest total for a Jewels Online sale in Hong Kong, with 89% sold by lot and participation from 20 countries. The top lot was a Cartier diamond necklace that sold for $70,000, against a low estimate of $10,000.
The record participation and increased level of transaction has spurred Christie’s Jewels to offer a new sale each month and increase the value of its offerings overall.
“This year has presented unprecedented circumstances, enabling Christie’s new opportunities through our enhanced digital platform,” Rahul Kadakia, international head of jewelry at Christie’s, said in the statement. “Year-over-year, we have seen an increase in online participation and the value threshold for transacting online.”
Top: The D color diamond ring Christie’s is offering in its June Jewels Online sale (photo courtesy of Christie’s)
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