International News
Christie’s Geneva Jewelry Auction Achieves $72.4M with 100% Sell-Through — Blue Diamond Leads at $12.7M
All 115 lots sold at the Magnificent Jewels sale, with a 6.24-carat fancy-deep-blue diamond ring setting a new per-carat auction record at $2 million.
Christie’s Magnificent Jewels sale in Geneva reached a dazzling conclusion, achieving CHF 60.5 million ($72.4 million) with a 100% sell-through rate. Every one of the 115 lots found a buyer, showcasing continued strength in the high-end jewelry market.
The undisputed star of the night was a Boucheron ring featuring a 6.24-carat, fancy-deep-blue emerald-cut diamond flanked by white diamonds and rubies. The piece sparked over five minutes of intense bidding before being secured by Moussaieff Jewellers for CHF 10.6 million ($12.7 million) — far exceeding its CHF 6.5 million ($7.7 million) high estimate and setting a new world record of $2 million per carat for a diamond of its hue.
The sale also included a notable private collection of 21 jewels by designer JAR, which collectively fetched CHF 5.9 million ($7.1 million).
Overall, 77% of lots exceeded their high estimates, with international participation from 45 countries: 46% from Europe, Middle East and Africa (EMEA), 26% from the U.S., and 20% from Asia.
Top 10 Highlights:
- Graff repurchased an oval-shaped, 3.68-carat, fancy-vivid-blue diamond ring for CHF 4.9 million ($5.8 million) — $1.6 million per carat, well above its CHF 3.7 million estimate.
- A 10.17-carat Burmese pigeon’s blood ruby ring soared past its CHF 650,000 estimate, fetching CHF 3.5 million ($4.2 million) — $411,000 per carat.
- JAR’s “Apricot Blossom” bangle, with diamonds and vibrant enamel, reached CHF 2.4 million ($2.8 million) — more than four times its estimate.
- Another JAR necklace, featuring 16 old- and round-cut diamonds, sold for CHF 2.2 million ($2.6 million) — over triple its high estimate.
- A 13.80-carat Kashmir sapphire ring went for CHF 2.1 million ($2.5 million) — more than double its estimate.
- A 1950s Kashmir sapphire and diamond bracelet nearly tripled its estimate at CHF 1.9 million ($2.3 million).
- An 11.64-carat fancy-light-blue diamond ring sold within expectations at CHF 1.6 million ($1.9 million).
- A convertible diamond necklace, with detachable bracelet and pendant, exceeded its CHF 1.5 million estimate to reach CHF 1.6 million ($1.9 million).
- A Reza ring with a 20.10-carat D-color, VVS1-clarity diamond realized CHF 1.2 million ($1.4 million), matching expectations.
Christie’s Geneva once again proved its dominance in the luxury jewelry market, underscoring global demand for rare colored diamonds and exceptional craftsmanship.
International News
Mehul Shah (WFDB/BDB) and Kirit Bhansali (GJEPC) Elected To CIBJO Board Of Directors At Centenary Congress In Vicenza
Indian Now Has Four Representatives On Board Of The World Confederation. Enhanced Collaboration Will Increase Transparency and Strengthen Consumer Confidence.
Mehul Shah, President WFDB & Vice President BDB, and Kirit Bhansali, Chairman GJEPC were elected by the CIBJO General Assembly to the Board of Directors of The World Jewellery Confederation (CIBJO) at the organisation’s Centenary Centenary Congress which concluded in Italy on September 7. They join Pramod Agarwal, former GJEPC Chairman, who was re-elected as Vice President of the global body and Vaishali Banerjee, MD India of PGI was also elected to the Board.
Dr Gaetano Cavalieri was re-elected unopposed as President, while Jonathan Kendall and Kenneth Scarratt were re-elected to the other two posts of Vice President. The Board has a total of 30 members.
CIBJO is the oldest global organization in the world gem and jewellery industry and is acknowledged for its stellar role in helping standardize guidelines and nomenclature used by the gem and jewellery trade worldwide. The organization publishes Blue Books and Retailer’s Guides for different industry verticals, drafted by members of its Trade Commissions who are experts in their fields. These are regularly updated at the World Congresses, which are held every few years.
Mehul Shah, who addressed the Opening Session of the Centennial Congress, congratulated the body on being recognised by the United Nations Economic and Social Council in 2006 as a technical expert and advisor, and called for stronger collaboration between CIBJO and diamond industry bodies like WFDB and BDB.
During the Congress deliberations, Mr Shah also strongly urged the body to adopt clear guidelines to differentiate gemstones produced in the laboratories that may appear identical to natural gemstones.
MR Shah said:
“There is a need for greater clarity and transparency in communicating these differences to the consumers so that they understand that these are actually two different products and address different consumer bases.”
Mehul Shah focused on the strong growth in the Indian market where demand was increasing about 10% year-on-year. “India is now the second largest consumer market in the world. “The election of a number of leaders from Indian trade bodies to the CIBJO Board is significant, because our country is both a leading manufacturer-exporter of diamonds, jewellery and coloured gemstones, as well as a rapidly growing consumer market for these products,” Mr Shah said soon after the election.
He endorsed the other panellists’ views that demand and prices were stabilising worldwide. The panel also urged the industry to boost its marketing activity.
He pledged to strengthen the collaboration between the global diamond industry and CIBJO across the world and in India, and work for enhancing consumer confidence in the gem and jewellery industry.
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