The Annenberg Diamond
:"An auction to remember," said Christie's top jewelry specialist about the firm's October 21 sale that saw its marquee lot — the Annenberg rectangular-cut diamond of 32.01 carats, D flawless and mounted as a ring by David Webb — achieve a record auction price of $7,698,500. That works out to $240,000 per carat. The buyer was anonymous.
Rahul Kadakia, head of jewelry at Christie's, said, "For three and a half hours, between 10 am and 1:30 pm on October 21 at Christie's, it was as if the recession never happened. Virtually every lot exceeded its estimate and the $7.7 million Annenberg diamond astonished even the most seasoned diamond dealer. It was an auction to remember. And if this were not enough, the sale started again at 2:30 pm and continued until 7 pm, giving collectors opportunity to acquire exceptional masterpieces from the superb collection of rare jewels and objets d'art."
The $46.5 million sale was 85 percent sold by lot and 94 percent sold by value. A complete review will appear in an upcoming issue. —WD
