Christie’s Nets Highest Total for Online Jewels Sale

RAPAPORT… Christie’s brought in $11.8 million from its most recent Paris auction, setting a record for an online jewelry sale, it said Wednesday.

A Boucheron ring set with an antique cushion brilliant-step-cut, 7.05-carat ruby surrounded by diamonds was the star of the Paris Joaillerie sale, which ran from November 30 to December 14. The piece realized $1.1 million, nearly 10 times its high presale estimate.

A number of other jewels also beat their valuations. Two pieces fetched $422,995 each, almost double their high estimates: A Belle Époque diamond bow brooch by Cartier with an old-cut cushion-shaped, 4.92-carat diamond and a cushion modified brilliant-cut, 15.09-carat, I-color, SI1-clarity diamond ring. Meanwhile, an aquamarine and coral necklace by Parisian Art Deco jeweler Jean Fouquet went for $338,396, twice its upper valuation.

Other notable items included a ring bearing a 10.95-carat Colombian emerald and diamonds, which achieved $309,889, more than nine times its high estimate. A retro tank bracelet by Boucheron sold for $70,499 and an Art Deco Tutti Frutti clip made by Mauboussin in 1929 garnered $67,679. Both pieces went for more than six times their presale estimates.

The sale total was not only the highest for any online jewelry auction, but also for any jewelry sale held in Paris, either live or digital, Christie’s noted. In total, the auction house sold 86% of items on offer. The 418 participants hailed from 33 countries, with 18% of those being first-time bidders.

Image: The Boucheron ruby ring. (Christie’s)