Jewelry auctions in New York continue to impress, matching the multimillion-dollar sales of high-end watch auctions. Sotheby’s and Christie’s led the way in June, collectively amassing over $70 million. Sotheby’s Magnificent Jewels sale reached $30,033,900, while Christie’s achieved $44.4 million.
The top lots consistently feature fancy colored diamonds, flawless diamonds, and rare gemstones like emeralds, sapphires, and rubies. At Sotheby’s, the highest-selling items, seven in total, each fetched over $1 million. Leading the auction was a Van Cleef & Arpels necklace from 1929 adorned with perfectly matched diamonds, selling for $3.6 million. Following closely was a 53-carat internally flawless diamond, a rare find in today’s diminished diamond mining landscape, which sold for $3,480,000. Notably, Kashmir sapphires, including a 10.31-carat ring and a 14.51-carat sugarloaf cabochon ring, underscored the auction’s focus on rarity, selling for $1,980,000 and $1.8 million respectively. Natural pearls, another rarity, fetched top prices, such as a necklace selling for $552,000.
Christie’s also highlighted the allure of fancy colored diamonds, with the top lot being the 10.2-carat Eden Rose, a fancy intense pink diamond that sold for $13.3 million. Following were a yellow and white diamond pendant at $2,167,500, and a vivid blue heart shaped diamond ring surrounded by diamonds, selling for $2,107,000. Notably, a natural pearl, cultured pearl, and diamond necklace exceeded expectations, selling for $378,000, five times its high estimate.
These auctions underscored that rarity drives value, with collectors willing to pay top dollar for exceptional pieces, whether diamonds, gemstones, or pearls, in today’s competitive auction market.
