High-Jewelry Sales are Booming at Christie's and Sotheby's—Here's What's Selling

"Buyers aren't scaling back on jewelry amid the ongoing global Covid-19 crisis, auction sales of high-ticket jewels are booming, thanks in part to online previews and bidding and a surge in availability of rare pieces."We were stressed going into the live auction in Geneva, because we knew it would determine what the market felt like, says Christie's jewelry specialist Marie-Cécile Cisamolo Another internally flawless diamond, weighing 100.85 carats, sold for $5,946,070, and a diamond and fancy-yellow diamond bracelet by Cartier sold for $2,559,900 Sotheby's jewelry sales are also booming at the high end.

At its Geneva sale in July, it sold a fancy-grey/blue diamond ring for CHF 2,060,000 and a fancy pink diamond ring for CHF 2,840,000 At a Hong Kong sale in July, it sold a pair of black and white diamond earrings for $2,345,000, and several multi-million-dollar diamonds in online sales "Due to the pandemic, we postponed the live Magnificent Jewels auctions from April to July, but we held three online jewelry auctions, all of which were 100%-sold white-glove sales," says Wenhao Yu, deputy chairman, of jewelry for Sotheby's Asia.

"Our Magnificent Jewels sale in July totaled $56 million, the highest valued jewelry sale worldwide this year, including two exceptional fancy vivid diamonds, a blue and a pink selling for $10.5 million and $8 million respectively, attesting to the strong demand for top quality jewels-like great art, they endure We've also had great success with quality designer pieces as well as vintage jewels in great condition." . Source