28 Carat Diamond Could Fetch $2 Million At Christie’s Online Auction

28.86 carat diamond ring

Christie’s is offering the largest D-color diamond to be sold at an online auction. What may be more important is that this sale could establish a new way of selling statement diamonds and gems.

A 28.86 carat, D color, VVS1 clarity diamond is the top lot at Christie’s Jewels Online sale, June 16 – 20. Its estimate is $1 million – $2 million, making it the highest valued lot ever offered for sale online at Christie’s.

With live auctions closed in response to the coronavirus pandemic, auction houses have turned to its already robust infrastructure of online auctions and it has paid off for the two largest auction houses, Christie’s and Sotheby’s, with sell-through rates well above 90 percent and many items surpassing estimates. However, what is being sold is limited to signed and unsigned period jewels at lower values than what are normally sold at live auctions.

Christie’s Garners $11M at London Auction

Christies London diamond ring

Christie’s brought in GBP 8.3 million ($10.7 million) from its Important Jewels sale in London on Wednesday, with pearls dominating the event.

The priciest was a cut-cornered rectangular step-cut, 18.02-carat, D-color, VVS1-clarity, type IIa diamond ring, which fetched GBP 881,250 ($1.1 million) against an estimate of GBP 800,000 to GBP 1.2 million ($1 million to $1.6 million). Four of the top 10 lots were jewelry items featuring pearls, which sold for well over their high estimates.

An emerald, diamond and cultured-pearl necklace by Meister, set with a rectangular cut-cornered, 10.99-carat emerald, garnered GBP 275,000 ($355,943), almost 23 times its GBP 12,000 ($15,532) high estimate. Meanwhile, a necklace containing 45 natural pearls went for GBP 268,750 ($347,922), well above its GBP 120,000 ($155,351) high valuation.

A pair of 19th-century natural-pearl earrings, which previously belonged to Eugénie de Montijo, the last empress of France and wife of Emperor Napoleon III, fetched GBP 237,500 ($307,375), smashing its GBP 80,000 ($103,537) upper estimate. A set of button-shaped, natural-pearl and diamond earrings, went for GBP 187,500 ($242,696), exceeding its GBP 80,000 ($103,537) high presale valuation.

Other notable items included a diamond necklace by Shinde, which garnered GBP 539,250 ($697,908), nearly three times its GBP 200,000 ($258,844) high valuation, and a Van Cleef & Arpels diamond necklace from the mid-20th century, which swept past its GBP 150,000 ($194,206) upper valuation, bringing in GBP 347,250 ($449,587).

Source: Diamonds.net