Christie’s nets over $48 million at June edition of Magnificent Jewels

Christie’s New York June 8 auction of Magnificent Jewels achieved a total of $48,872,000 with 95% sold by lot and 98% by value.
The auction was led by The Light of Africa Diamond, a D color, Flawless, Type IIa, emerald-cut diamond of 103.49 carats, with excellent polish and symmetry, which achieved $20,084,000 and ranks as the fifth most valuable colorless diamond ever offered at Christie’s. The diamond, unearthed from The Cullinan Diamond Mine, was cut and polished from a 299.3 carat rough by Stargems Group.
Rahul Kadakia, International Head of Jewelry, Christie’s, remarked: “The Magnificent Jewels auction at Christie’s New York rounded off an incredible sale season with solid results worldwide.  Ann Getty’s extraordinary JAR collection sold for a total of $5,065,000, over double the pre-sale estimate.  The 103.49ct Light of Africa D Flawless diamond achieved an incredible $195,000 per carat demonstrating the strength of the diamond market at the highest levels.  The stone was unearthed at the Cullinan Mine and polished by the Stargems Group.  We look forward to the rest of our online jewelry sales in London, New York, and Paris, which run through the end of June.”
The sale also achieved strong results for jewelry from notable private collections, such as: a selection of Bulgari jewelry from the collection of Signora Silvana Mangano, led by a Bulgari Fancy Intense yellow diamond ‘Trombino’ ring of 15.98 carats, which sold for $693,000; a Van Cleef & Arpels set of coral and gold jewelry, formerly in the collection of Mrs. Brooke Astor, which realized $75,600; and a pair of emerald and diamond earrings of 13.79 and 12.14 carats from the Property of a Private Collector, which achieved $1,260,000.