Christie’s Paris Auction Yields $8M

RAPAPORT… Christie’s garnered $8.2 million from its Paris Jewels sale, with a necklace by Jean Fouquet setting a world auction record for a piece by the designer.

Created in 1925, the necklace is set with a cut-cornered rectangular aquamarine weighing between 85 and 90 carats. The Art Deco jewel sold for EUR 980,000 ($1.2 million), smashing its EUR 450,000 ($534,474) upper estimate at the auction, which ran from June 21 to July 7, Christie’s said last week.

Diamonds also performed well at the sale. A cushion-cut, 17.47-carat, F-color, VS1-clarity diamond ring by Monture Boucheron brought in EUR 680,000 ($809,468), or $46,335 per carat, well over its high estimate. A circular-cut, 7.38-carat, G-color, internally flawless diamond pendant fetched EUR 200,000 ($238,079), or $32,260 per carat, beating its valuation.

Other notable items included a diamond necklace containing a total of 40 to 45 carats of circular-cut, old-cut and baguette-cut diamonds. The piece, which transforms into a bracelet, exceeded its high estimate, selling for EUR 162,500 ($193,010). Meanwhile, an Art Nouveau dragonfly brooch by René Lalique fetched EUR 175,000 ($208,010), three-and-a-half times its upper valuation.

In total, Christie’s sold 89% of items on offer at the auction, which saw participants from 36 countries, 17% of which were first-time bidders. The company’s next jewelry event is its Geneva Online Jewels sale, which runs from July 9 to 20.

Image: The Jean Fouquet aquamarine necklace. (Christie’s)