Jewellery market reaches new high

The Blue Winston: the largest flawless Fancy Vivid blue diamond in the world

The Jewellery market remains extremely vibrant and a buoyant season lies ahead. That is the view of Rahul Kadakia, international head of Christie’s jewellery department, speaking after last week’s record breaking Maginificent Jewels sale held by Christie’s in Geneva.

The sale realised US$154,193,622, selling 85% by lot and 94% by value. Overall 27 lots sold  above $1 million and five world auction record prices were achieved, including the world auction record price per carat for a blue diamond, with the sale of the largest flawless Fancy Vivid blue diamond in the world, weighing 13.22 carats, for US$23,795,372 (a world record price of $1,799,953 per carat).

The diamond, which was purchased by American luxury jeweller Harry Winston, has been named The Winston Blue by Nayla Hayek, CEO of Harry Winston.

“In January 2013 we purchased Harry Winston and since then my ambition has been to acquire the most desirable and unique gems. When Christie’s announced they were offering the largest flawless fancy-vivid blue the GIA had ever graded, I had to buy it. Today, I am proud to own the most beautiful blue diamond in the world: The Winston Blue,” said Hayek.

Rahul Kadakia added: “Harry Winston continued buying the best at Christie’s with their acquisition of The Winston Blue. World auction prices were achieved in a record breaking auction with intense bidding throughout the sale. The Cartier Devant de Corsage Brooch realised a staggering US$17,5M, a 660% increase having first sold for US$2.65M at Christie’s Geneva back in 1991.”

François Curiel, President of Christie’s Switzerland, said the sale places Geneva firmly in the spotlight as a centre for the sale of precious items.

“Buyers from all over the world competed fiercely in the jewellery sale, and a watch collector from the Middle-East acquired a 1949 Rolex which fetched over SFr. 1Million establishing a world record price for a watch of this brand.,” he said. “In this global world, Geneva remains a leading center for the sale of precious objects.”