Christie's Opens Spring Season With $39 Million Jewels Sale

NEW YORK CITY

:Christie's kicked off its spring auction season with an array of jewelry in its annual Magnificent Jewels sale. Totaling $39 million, the sale was filled with diamonds, including the rarest of colored diamonds, brilliant gemstones and signed and period jewels by some of the Twentieth Century's most renowned creators. The sale, which was 96 percent sold by value and 92 percent sold by lot, also featured the collection of Joan B. Kroc, well-known philanthropist and wife of McDonald's founder Ray Kroc.

Commented Rahul Kadakia, head of jewelry for Christie's America, "A staggering $39 million changed hands at Christie's New York. The combination of a strong economy, coupled with buyers from emerging markets, drove the prices of this auction to a whole new level. Diamonds continue to soar and rare jewels and gemstones have gained tremendous ground in the market."

Leading the jewels at auction was a perfect pear-shaped D color, internally flawless diamond of 50.53 carats, which soared to $4,216,000, going to an Asian private buyer. Set in a ring and flanked on either side by pear-shaped diamonds, this diamond exemplified the finest in color and clarity.

This sale featured a selection of colored diamonds, chief among them a colored diamond ring set with a pear-shaped fancy dark blue-gray diamond within a pavé-set pink diamond surround, which fetched $1,472,000. Weighing approximately 14.43 carats, this special diamond exhibited a midnight-blue coloring due to the presence of minute quantities of the element boron incorporated into the stone's crystal structure at the moment of its formation.

From the estate of Joan B. Kroc came two diamond necklaces by Harry Winston. The first was a colored diamond necklace set with a detachable pear-shaped fancy intense yellow diamond of approximately 42.13 carats, which brought $2,032,000. The second was a diamond "Holly Wreath" necklace composed of two graduated rows of circular, pear and marquise-cut diamond clusters, which realized $856,000.

Also among the sale's top lots was a colored diamond and steel butterfly Cartier brooch, which went out at $732,800.

Rounding out the sale's top ten lots were a pear-shaped D, VVS2 diamond of 50.67 carats, $2,592,000; a rectangular-cut fancy intense blue diamond of 3.17 carats, $1,012,800; a rectangular-cut diamond line necklace by Cartier, $979,200; a circular-cut G, VS1 potentially flawless diamond of 17.64 carats, $822,400; and an oval-shaped diamond and sapphire line necklace by Harry Winston, $676,800.

Prices reported include buyer's premium. For information, www.christies.com or 212-636-2000.