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Market NewsCommentDiamonds drive Christie?s record 2007 sales

Diamonds drive Christie?s record 2007 sales

Jewellery sales at Christie’s totalled $395 million in 2007, an increase of 11% over 2006, primarily driven by diamonds. According to Christie's the record sales are the highest ever achieved by any auction house. "The magical barrier of $100,000 per carat was regularly broken for top colourless diamonds, while coloured diamonds often sold for over $1million per carat. These figures were unheard of as little as five years ago,” François Curiel, Christie’s chairman of Jewellery said in a statement. "There was also a major geographical re-alignment, as Hong Kong established itself firmly alongside Geneva and New York as a key international sale centre for exceptional jewels," Curiel said. Christie’s attributed the buoyant sales to the participation of new collectors from Russia, China and the Middle East, and others bidding for the first time through the internet.

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