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Christie’s Geneva sales achieve 65% more than last year
The sales saw a return of buying vigour
By: Diamond World News Service
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May 14 2010 5:00PM
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Reference: 4948  

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Christie's, spring auctions in Geneva amounted to US$56,745,038 indicating a 65 percent increase over its sales in May 2009. The auctions included sales of watches (Important Watches including a Connoisseur’s Vision Part II), wine (Fine Wines) and jewellery (Jewels: The Geneva Sale). François Curiel, President of Christie's Switzerland said, " 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’."

The Jewels : The Geneva Sale achieved US$33,963,653, with 194 lots sold out of the 220 lots offered. Jean-Marc Lunel, Head of the Jewellery Department at Christie's Geneva said, “Greatly exceeding its pre-sale high estimate, Christie's Geneva Spring jewellery auction totalled $33.9m, selling 94 percent by value. Close to 400 participants, whether in the room, on the telephone or online, competed for the 220 carefully selected jewels. Once again diamonds dominated the total, although signed period jewels proved the most popular pieces in the sale. Two private collections of fine vintage jewellery virtually sold out for $9.9m, while every lot in the special ‘Cartier section’ found a buyer, achieving a total of $4.2m.”

Top five lots of the jewels’ sales included:

A rectangular-cut D, Flawless diamond of 40.21cts bought for $5,129,100 $127,000 per carat.

A circular-cut diamond riviére totalling 155.17cts that sold for 4,725,900m as compared to its presale estimate of US$1,800,000.

A brilliant-cut D, Internally Flawless diamond of 16.92cts bought for $2,760,300.

A rectangular-cut G, VVS1 diamond of 23.07cts sold for $1,190,700.

A pear-shaped D, Internally Flawless diamond of 10.06cts sold for $1,082,700.

The Important Watches including a Connoisseur’s Vision Part II sale amounted to $21,099,940, with 354 lots sold out of the 369 lots on offer. Aurel Bacs, International Co-Head of the Watch Department, said - “We are proud to announce that following the success of last November’s sale of A Connoisseur's Vision Part I, the second part of the most important private collections of Patek Philippe wristwatches in the world ever offered at auction, now also become the most expensive one ever sold. As with the Part I sale, 100 percent of the lots were sold with a combined total of almost SFr.16 million, led by the Mona Lisa of all watches, the unique Patek Philippe chronograph wristwatch, ref.1527, which sold for an outstanding $5,708,833 (SFr.6,259,000 / €4,393,192) to a Swiss private museum. Throughout the sale, the room was packed with buyers from all over the world, and an additional 250 bidders participated online via Christie’s LIVE™. European bidders were fiercely challenged by international collectors, especially buyers from China.”

Top five lots of watches sold included:

Patek Philippe - an 18K gold perpetual calendar chronograph wristwatch, ref. 1527 bought for US$ 5,708,833 ( estimate - US$1,400,000-2,300,000).

Patek Philippe – an 18K gold perpetual calendar chronograph wristwatch, ref. 2499 bought for $878,352.

Patek Philippe – an 18K gold full calendar wristwatch, ref. 96 sold for $659,448.

Patek Philippe – an 18K gold hinged single button chronograph wristwatch, manufactured in 1924 sold for $659,448.

Patek Philippe – an 18K pink gold perpetual calendar chronograph wristwatch, ref. 1518 sold for $615,667.

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