New York auction house celebrates Magnificent Jewels 300-lot sale.

Christie’s New York has announced a sparkling 2012, with its sales totalling $163 million (£101m) over the year, coming to a close with yesterday’s December sale totaling $32.5 million (£20m).

Yesterday’s sale featured the 50ct D-colour Graff diamond ring, which Laurence Graff bought back for $8.4 million (£5.2m), while a record was smashed for reddish-orange diamonds at auction, with a 3.15ct stone achieving $2.1 million (£1.3m).


The “blockbuster” 300-lot sale of Magnificent Jewels at its flagship Rockefeller Plaza saleroom was a day-long sale, achieving sell-through rates of 84% by lot and 86% by value.

The Graff diamond ring was the top lot of the day, marking another large diamond sale for Christie’s, and was re-purchased by Laurence Graff for little under its $10 million top estimate.

He said: “This is the third time that I have owned this beautiful diamond and I am as thrilled today as I was the first time. Diamonds of this exceptional caliber have a life and legacy that carries on beyond us all.

“This is one of the finest D-color diamonds in the world and I am delighted to have it back again,” Graff added.

Earlier in the sale, Christie’s a new per-carat record was achieved for a Kashmir sapphire at auction, with the sale of a 8.91 carat sapphire for $1,370,500 (£849,710).

Rahul Kadakia, head of jewellery at Christie’s Americas and Switzerland, said: “A D color diamond of 50.01 carats last sold by Christie’s New York in 2005 and purchased by Laurence Graff for $4.2 million has once again been purchased by Mr. Graff for $8.4 million, demonstrating the increasing strength and stability of the global diamond market. Over $163 million of superb jewels sold under our gavel this year at Christie’s New York, with new and established collectors competing at the very highest levels.”