Christie’s Record-Breaking “Year of the Colored Diamond”

With the demand for diamonds on the rise in 2010, it is no wonder that Christie’s Auction house is reporting its highest yearly international sales total ever.

“With many new buyers in Europe, the US, and Asia actively participating at a high level, competition has become more intense than ever for rare jewels and gems of the highest quality,” Christie’s said in a press release.

Worldwide sales for the iconic auction house totaled $426.4 million; a 56 percent increase from 2009, and was partly due to renewed interest in the jewelry market, specifically in China, which saw one of the largest sales of the year.

 The “Perfect Pink,” a 14.23 carat Fancy Intense pink, rectangular cut diamond ring sold for over $23 million, or about $1.6 million per carat, and set a new record for the most expensive jewel ever sold in Asia. 

Another notable Christie’s sale was the “Bulgari Blue,” a 10.95 carat, Fancy Vivid blue, triangular cut diamond, set onto a ring alongside a 9.87 carat triangular cut white diamond.  The auction house’s second largest sale for the year was sold to a private Asian buyer and went for around $15.8 million, setting a new price per carat record for blue diamonds.

However, diamonds weren’t the only gemstones flying off the auction block in 2010, a 9.2 carat Ruby from the Duke of Portland’s collection sold for $3.3 million in London, as well as the ‘Portland Pearls,’ a diamond and pearl brooch that sold for $2.4 million. 

Although the top sale for the year was credited to Sotheby’s, another prestigious auction house that sold the 24.78-carat “Graff Pink” diamond for $46.2 million, Christie’s won second and third place, as well as the sale of six jewels for more than $5 million and notable success with its private sales.

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