Jewel auctions break several records

Geneva's auction houses have held their spring jewellery sales and reported sparkling results: two days' work has brought in more than SFr110 million ($104 million).

This content was published on May 16, 2008 minutes

The world's two leading auction houses, Sotheby's and Christie's, also saw several records being broken.

One of these was for a 3.73-carat blue diamond ring, which changed owners at Sotheby's on Thursday for SFr5.2 million. This works out at a record SFr1,401,615 per carat.

Sotheby's reported total trade of SFr60 million, with two-thirds of lots going for more than their top estimate.

Christie's held its rare jewellery auction on Wednesday and said it was equally pleased.

A 13.39-carat blue diamond ring sold for SFr9.2 million, the most paid at such an auction for ten years.

François Curiel, president of Christie's Europe, said this was because coloured diamonds were currently in short supply whereas demand from collectors for unusual pieces of jewellery was high.

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