Christie’s raised more than $31.7 million in its “Magnificent Jewels” sale in New York on April 12. Of the 413 lots offered, 363 were sold.
The two most spectacular sales at the auction were a 50-carat flawless diamond cut by Lawrence Graff, which he bought back for $4.2 million, and an 8-carat ideal Burmese ruby for which a private Asian buyer paid $2.2 million. Rahul Kadakia, head of jewelry for Christies Americas, noted that the ruby’s $275,000 per carat price was a world record.
Christie’s spring jewelry sale season includes upcoming auctions in Geneva on May 19 and at the auction house’s new Hong Kong convention center location on June 1.