Christie’s Geneva Magnificent Jewels sale creates highest total revenue achieved

Christie’s Geneva sale of Magnificent Jewels held on 11th November achieved various records including the highest total achieved for any Magnificent Jewels sale in the world. The sale generated revenues worth US$150,216,738 and this revenue combined with the Patek Philippe 175 and the Important Watches sale, concludes Christie’s 2014 autumn sale week with a grand total of US$185,011,232, the highest total since the first Christie’s auction in Geneva in 1969.

The sale recorded 54 percent of the jewels selling above their pre-sale estimate, 31 jewels selling above SFr.1M, six jewels above SFr. 5M and two jewels above SFr. 10M.

Rahul Kadakia, International Head of Christie’s Jewellery Department: “Christie’s Geneva welcomed over 600 registrants to the sale from over 30 countries. We are extremely proud that the Blue Belle of Asia established a new world record for any sapphire sold at auction for US$17,295,796. The JAR “Parrot Tulip” bangle bracelet realised US$3,595,853 and established the second highest price for a creation by JAR. Jewels from major collections also realised exceptional prices such as the Art Deco natural pearl and diamond necklace from the private collection of the Baroness Edouard de Rothschild which sold for US$5,195,369.”

The Blue Belle of Asia, The Blue Belle of Asia, a cushion-shaped Ceylon sapphire of 392.52 carats and diamond necklace was bought by a private collector for US$17,295,796. It sold as the top lot and set a new world record price for any sapphire sold at auction. The second top lot was bought by Laurence Graff - a pair of coloured diamond ear pendants set with a pear-shaped fancy vivid blue SI2 diamond of 6.95 carats and a pear-shaped fancy vivid pink VS2 diamond of 6.79 carats. The remainder of the top lots included a kite brilliant-cut fancy pink VS1 diamond ring of 15.62 carats, The Queen of Burma which is an oval-shaped Burmese ruby ring of 23.66 carats, by Cartier, a pear-shaped and brilliant-cut diamond necklace suspending a flawless D colour pear-shaped diamond of 20.20 carats, an Art Deco natural pearl and diamond necklace, a coloured diamond necklace with five yellow cushion-shaped diamonds of 53.09, 35.58, 34.13, 17.25 and 17.17 cts, a pear-shaped light pink VVS1 diamond of 40.48 cts, a gold diamond and green garnet “Parrot Tulip” bangle, by JAR and finally a pair of natural pearl and diamond ear pendants of 104.31 and 101.57 grains.

The sale also offered The Cartier Tigers formerly in the collection of the Duchess of Windsor, which sold for US$3,138,848. The consignor Sarah Brightman intends to offer a portion of the proceeds from the sale to The Andrew Lloyd Webber Foundation. Empress Eugenie’s Feuilles De Groseillier brooch once part of the French Crown Jewels sold for US$2,330,929.

“Over the past three days, Geneva was once again in the spotlight, starting with the commemorative Patek Philippe 175 sale and concluding with a $150 million jewellery sale in which nearly all lots found a buyer. Collectors from China, America, the Middle East and all over Europe remained either in the saleroom, or on the telephone until 11.00 pm to acquire important and historical jewels as well as extremely rare precious stones that are rarely seen on the market” said François Curiel, International Head of Luxury.