London- The auction of fancy jewels recently organized by Christie’s Geneva saw huge sales of up to 88 percent, a reflection of the market’s remarkable trust and prosperity driven by a special and powerful participation from Asia.
A 92-carat flawless heart-shaped diamond designed by the Parisian jewelry house “Boehmer et Bassenge” was the most important piece in the auctions. It was sold for over 14 million Swiss francs (about $14 million, around $163,000 for each carat).
The piece called “La Legende” was sold on the phone three minutes after its bid was launched in the hall. It has made a new record for a heart-shaped diamond ever sold in an auction till this day.
Commenting on the record, Francois Curiel, the Asia-Pacific chairman for Christie’s said: “Auctions of fancy jewels witnessed an exceptional participation this week. The three auctions saw a growing participation through the online sales’ service. Another time, Geneva has proven itself a distinguish hub to exhibit fancy and rare jewels and watches, as auctions achieved great revenues recently. A heart-shaped diamond was sold for $15 million and made a new record among all the previously sold heart-shaped diamonds. The last record reached by a diamond hit $10 million in the Christie’s auctions in May 2011.”
Noteworthy, this recovery in the auctions comes while the luxury product market sees a decline in its sales.