Christie’s Bucks the Trend with its Jewels Online Auction Sold Out and Garnering US$1.3 Mn

Christie’s Online Jewelry Auction Sells Out
(Left) Graff, emerald and diamond ‘Icon’ earrings, price realised: $43,750. (Right) Graff, emerald and diamond ‘Icon’ necklace, price realised: $52,500.

Christie’s Jewels Online Sale held from April 13-24, 2020, is some cause for cheer for the jewellery world. The online auction not only raised a total of US$1,352,125 but, of the goods put up, 99% sold by lot and 100% sold by value, with 81% of lots selling above their high estimate, the auction house announced.

What is more, Christie’s noted that the sale received “significant global participation” with bidders from 31 countries and five continents, and with 38.5% of them being new buyers. “Additionally, there was an unprecedented amount of online engagement across a global spread of 150 countries with a 99% increase of unique visitors compared to the online Jewels sale hosted in April 2019 and a 46% increase of unique visitors compared to the February 2020 sale,” Christie’s stated.

Interestingly, the actual prices realised, for some lots, were far higher than the fairly low estimates. Graff led the fray with its jewellery representing the top lots. At the forefront was an emerald and diamond ‘Icon’ necklace that sold for $52,500, against a low estimate of $10,000; a pair of emerald and diamond ‘Icon’ earrings, which realised $43,750; and a ruby and diamond ring, that sold for $35,000. David Webb jewellery also commanded “top prices” including for a diamond and multi-gem pair of earrings, which sold for $35,000; and a gold necklace, that realised $35,000; “both achieving more than four times their estimates”, Christie’ said. Other notable results included a ‘Circle Rope Link’ gold necklace, by Verdura that achieved $20,000, against a low estimate of $6,000; and a diamond, sapphire and turquoise bracelet, by Tiffany & Co. that tripled its estimate selling for $15,000.

Caroline Ervin, AVP, Specialist for eCommerce Jewels at Christie’s Americas, said: “We were delighted with the amount of online engagement for this sale, which received an unprecedented number of unique visitors, over a 99% increase from April 2019, and from around the world. We worked collaboratively to enhance our digital educational offerings to include refreshed online collecting guides, videos, and interviews with specialists to better virtually connect with our audiences. The extraordinary engagement is a testament to our meaningful client relationships and digital initiatives and the strong results are attributed to the thoughtful curation of the sale, which featured a wonderful selection of spring-inspired jewellery by celebrated designers.”

NewsSource: gjepc

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Disclaimer: This information has been collected through secondary research and TJM Media Pvt Ltd. is not responsible for any errors in the same.

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