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Auctioneers Tickled Pink by 2017 Jewelry Sales

Record-breaking diamonds drive total proceeds to more than $1 billion.
Dec 20, 2017 7:55 AM   By Rapaport News
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Christie’s and Sotheby’s saw combined jewelry sales of more than $1 billion this year as major pieces smashed auction records.

While neither company released a year-on-year comparison, Christie’s described 2017 as a “stellar year” for its jewelry department. Christie’s reported worldwide jewelry sales of $556.7 million for the year, while Sotheby’s garnered $551.3 million, it said.

Both auction houses recorded significant milestones this year, with Sotheby’s selling the CTF Pink Star diamond (pictured) for a world-record $71.2 million. It also achieved the highest price for earrings in auction history, selling the Memory of Autumn Leaves and the Dream of Autumn Leaves for a combined $57.4 million.

Meanwhile, Christie’s sale of the 14.93-carat Pink Promise for $32.2 million in Hong Kong earned the highest average price per carat for a pink diamond.

While the bulk of Christie’s sales were at live auctions, the company has seen “immense growth” in online auction sales to $8.9 million this year. Sotheby’s said buyers bought 23% of lots online.

Some 32% of Sotheby’s jewelry buyers this year were bidding at the auction house for the first time, the company added.
Tags: auction, Christie’s, CTF Pink Star, Dream of Autumn Leaves, Jewelry, Memory of Autumn Leaves, Pink Promise, Rapaport News, Sotheby’s
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