Citing “intense activity on the phone and over Christie’s Live,” Violaine d’Astorg, touted the success of the Paris Jewels sale, which took place from November 24th to December 9th. The Director of the Jewels Department for Christie’s France, d’Astorg believes the results speak to the powerful attachment people continue to have with jewelry:
This last jewelry auction of the season demonstrated the continued strength of the jewelry market despite the challenges due to the pandemic.
Diamonds lead the way
A large chunk of that $5 million was attributable to a single 14.7 carat diamond ring. Nearly tripling the pre-sale estimates, this E color, SI1 clarity Marquise cut diamond, set into a platinum ring with baguette-diamonds on the shoulders, commanded $531,812, which amounts to $35,322 per carat.
In a nod to an older style with warmer diamonds, this platinum ring set with a pair of matching 6.73 carat J color, VS2 clarity antique-style brilliants was sold for $167,139, exceeding it’s pre-sale estimate by nearly 40%.
Van Cleef & Arpels in demand
This pair of Van Cleef & Arpels mystery-set ruby and diamond earrings, mystery-set in platinum – also wearable as clip-brooches – more than tripled the pre-sale estimate, bringing in $168,592.
And this beautiful piece of history (circa 1947), a “Paillette” Ballerina brooch with around 1.5 carats total weight of circular cut diamonds set in 18k yellow gold, along with its fitted case, doubled its pre-sale estimate, bringing in $129,164 when the gavel finally fell.
Christie’s sold 80% of the items on offer, in total, with many pieces selling above their estimates. More photos and information on these items can be found on the Christie’s website.
Jewelry spending is trending
Indeed, the past months have seen other record-setting auction results, diamond and jewelry sales surging domestically and abroad and an increase in pandemic-engagements, attributable to a paradigm shift in mindsets: With less spending on travel, holidays and social-events some people are diverting funds to emotional satisfaction, long-term stability and simple self-gifting.