Record breaking pearl necklace hits £3m at auction

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Natural coloured pearl necklace sets world record at Christie's.

The spring auction season in New York kicked off with a record breaking result at Christie’s, where its sale of jewels reached $41,951,125.

Natural pearls were the stars of the day with a few rarities on offer, including a four-strand natural colored pearl necklace, which sold to a private Asian bidder for $5,093,000 – a world auction record. 

Other highlights included the sale of the top lot of the day, a 5.29 carat fancy intense purple/pink diamond. After a round of moderately competitive bidding the stone sold for $5,765,000 to a dealer on the phone. Of the 310 lots offered, 238 were sold.

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The sale had a number of passes, mostly on more commercial goods, but it did have some bright spots as well. A collection of signed jewellery from an unnamed collector was said to be the most exciting part of the sale as dealers and privates competed for the best pieces.

There was a collective gasp in the room when it was announced that the 80.73 carat K colour VS2 cushion-cut diamond ring was pulled from the sale. White diamonds sold steadily, but most yellow diamonds on offer were left on the block. 

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