Signed Diamond Jewellery

Published on 17/05/10

Diamonds and signed vintage jewels netted strong prices at Christie's semi-annual sales in Geneva, signalling that the international market has returned to full strength, the auction house said on Thursday.

The star lot on Wednesday night, which followed modern art sales in New York last week, was a flawless white diamond weighing 40.21 carats sold for 5.69 million Swiss francs ($5.14 million) to an anonymous buyer, it said. The rectangular-cut stone was estimated at $4.5 million-$5.5 million.

"The vigour seen in the US and Asia was equalled here in Europe, with strong prices achieved for fine jewellery, watches and wine. demand for stellar examples rivalled that seen at the height of the market, which very much seems to have returned 'en force'," Francois Curiel, President of Christie's Switzerland, said in a statement.

Christie's jewellery sales totalled $33.9 million, above the high end of its pre-auction estimate, with some 89 percent of the 220 lots on offer finding new owners, it said.

Rival Sotheby's (ADD RIC) netted 60 million Swiss francs ($54.10 million), almost double the low end of its pre-sale estimate, at its jewellery sales in the Swiss city on Tuesday.

Jean-Marc Lunel, head of Christie's jewellery department in Geneva, European capital for jewel auctions, said of its own results: "Once again diamonds dominated the total, although signed period jewels proved the most popular pieces in the sale.