Mon, May 22, 2017

Art & Auctions
Christie's luxury sales fetch $114m

Three sales of luxury goods at Christie’s Geneva fetched a total of CHF112 million ($113.6 million) collectively for Important Watches, Fine & Rare Wines and Magnificent Jewels.

The auctions, which were held from May 15 to 17, also saw new records set.

A world record price at auction was achieved for reference 2497 by Patek Philippe known as the Haile Selassie, which sold for just over CHF2.9 million. The Fine & Rare Wine auction was highlighted by a 29-lot collection of Bouchard Père et Fils, La Romanée, which was all sold.

“The Luxury Sales this week were well attended both in the saleroom itself as well as a significant increase in online bidding this season across all three sales. Geneva has proven once again to be the right place to offer the most exquisite jewels, the rarest wines and important watches. A fantastic result was achieved for the heart-shaped diamond which sold for just under $15 million, setting a new record for a heart-shaped diamond sold at auction, surpassing the previous record of $10.9 million set at Christie’s in May 2011,” commented François Curiel, Christie’s Chairman Europe and Asia

The top lot of the sales was a 92.15 carat heart-shaped diamond set by Boehmer et Bassenge into a very stunning sautoir, which sold for CHF14.76 million ($14.98 million) after three minutes of bidding in the room and telephone, setting a new record for any heart-shaped diamond sold at auction.

The private collection of Eric Nussbaum, who was the initiator and “eye” behind the Heritage Cartier collection sold 100 per cent, achieving CHF683,125 ($693,176) with the top lot, a natural pearl necklace, doubling its pre-sale estimate and selling for CHF100,000.  

La Dolce Vita part of the auction – focusing on Italian jewellery design – was highlighted by the unique Bulgari sautoir from the collection of Silvana Mangano. The necklace sold for CHF187,500 ($190,312), tripling its pre-sale estimate.

The next Luxury Sales will be held in Hong Kong, followed by London.

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