50 carat diamond necklace sells for $9.5m at Christie's New York auction

paulfrasercollectibles

2015-06-26 13:01:31

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50 carat diamond necklace sells for $9.5m at Christie's New York auction

A 50 carat pear-shaped D colour flawless diamond necklace was the star attraction on October 16

A 50.52 carat diamond necklace has provided the top lot at a leading jewellery auction in New York.

Christie's jewellery auction 50 carat necklaceThe 50.52 carat diamond necklace sold for $188,000 per carat

The pear-shaped D colour flawless diamond necklace sold for $9.5m, or $188,000 per carat, at Christie's Magnificent Jewels auction on October 16, a testament to its considerable eye appeal.

It sold to an anonymous private buyer.

In second place was a pair of pear-shaped fancy yellow and colourless diamond ear pendants, of 52.78 and 50.31 carats, respectively.

They sold within estimate for $4.7m.

A natural two-strand pearl necklace beat its $3.5m high estimate by 4.76%, selling for $3.7m, while a 68.35 carat oval-cut fancy intense yellow flawless diamond achieved $3.2m.

Rahul Kadakia, Christie's head of jewellery for the Americas and Switzerland, said: "Private collectors and dealers reacted more than positively to a 369 lot auction that was finely-tuned in terms of prices and selection of gems to current market conditions.

"Natural pearls, colourless flawless diamonds, and coloured diamonds of high quality once again dominated the day, making for a vibrant atmosphere in the saleroom."

The auction achieved $50m in all, with 87% of lots sold - indicative of the current appetite for fine jewellery.

A 2012 Barclays surveyof collectibles owners found that 70% own jewellery, up from 57% in 2007 - making it the most popular form of treasure asset. Fine art was in second place with 49%.

For more of the latest from the world's jewellery auctions, sign up to our free weekly newsletter, or click hear to learn more about the exciting investment potential of the jewellery sector.

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