The largest diamond auctioned online by Christie’s is a 28.86-carat, D-colour, VVS1, which is estimated to fetch US$1 to US$2 million (HK$7.75 million to HK$15.5 million).
Even without the lockdowns and social distancing, auctions have been transitioning into the digital sphere since the highly successful sales of Elizabeth Taylor’s inaugural auction in 2011. Live auctions offer privacy and flexibility in taking a closer look at items in detail with 100% anonymity. Now that we are in times where staying away from people is encouraged, online auctions have been soaring with new members registering online and boosting sales up 80% in general, with a sell through rate of up to 99%, according to Christie’s.
“As the jewelry auction market leader for over twenty-six years, our team continues to strategically innovate and bring to market the very best jewels for our clients. This year has presented unprecedented circumstances, enabling Christie’s new opportunities through our enhanced digital platform. Recognising greater client confidence, we are proud to announce the highest valued lot ever to be offered for sale in our June 2020 Jewels Online auction.” — Rahul Kadakia, International Head of Jewelry at Christie’s
In its upcoming online auction which will be held from 16 to 30 June, Christie’s will outdo itself with a whopping 28.86-carat, D colour, VVSI, emerald cut diamond. Estimated to be the highest valued piece ever to be sold for the house online, it’s expected to sell for US$1 to 2 million (HK$7.75 million to HK$1.55 billion).
The value of this diamond comes from the combination of its colour, the highest quality of colour and transparency in natural diamonds measured by GIA. Belonging to the Type IIa category, it is the most chemically pure (less than 2% can reach this status) diamond of extreme quality. Not to mention, the sizeable gem, making these three qualities found in one diamond exceptionally rare. Lastly, the cut — one of oldest in terms of traditions — which is the step-cut emerald has fewer facets and is unforgiving when it comes to flaws and impurities.
With the 28.86 Spectacular Diamond Ring, other hard-to-come-by pieces will also go under the “digital” hammer including a Graff Diamond and Sapphire Necklace of tapering openwork flower motif design (estimated at US$70,000 to US$100,000 or HK$543,000 to HK$775,000); a Kutchinsky Cuff Bracelet featuring pear-shaped emeralds and round yellow diamonds on a field of white diamond pave (estimated at US$30,000 to US$50,000 or HK$233,000 to HK$388,000); and a Van Cleef & Arpels Brooch in the style of a four leaf clover with chrysoprase petals, centring on a round diamond and sculpted gold pistil (estimated at US$6,000 to US$8,000 or HK$47,000 to HK$62,000).
The online showing room will be open 16-30 June 2020 at www.christies.com.