International auction house, Christie’s, is gearing up to sell the largest D colour diamond ever auctioned online.
In a sign of the times, Christie’s Jewels has announced that it will present the highest valued lot ever offered in one of its online sales—and the largest D color diamond ever to be auctioned online—in its upcoming Jewels Online sale.
Scheduled to take place June 16–30, the virtual auction will be led by a diamond ring featuring an emerald-cut 28.86 ct. D colour diamond with VVS1 clarity. The diamond belongs to the rare type IIa category, the classification for the most chemically pure diamonds, which comprises less than 2% of all diamonds. The ring is estimated to sell for between $1 million and $2 million.
“This year has presented unprecedented circumstances, enabling Christie’s new opportunities through our enhanced digital platform,” Rahul Kadakia, international head of jewellery at Christie’s, reveals. “Year-over-year, we have seen an increase in online participation and the value threshold for transacting online.”
The stone was originally scheduled to be sold at a live auction but due to Covid-19 live sales around the world have been closed. Both the auction house and the seller agreed the online platform should produce similar results.
“Having experienced greater client confidence of transacting at higher price points online, the decision was made in collaboration with our consignor to move to an online sale, which is a very active channel for us,” Kadakia shares.
Christie’s has made several high-ticket jewellery sales online since the pandemic began and many nations enacted stay-at-home orders. And its sell-through rates have been impressive, ranging from 89% to 99% since February.
The record participation and increased level of transaction has spurred Christie’s Jewels to offer a new sale each month and increase the value of its offerings overall.