29-Carat D-Color Diamond Breaks Online Auction Record

New York—The largest D-color diamond to be auctioned via the internet is now the most expensive jewel ever sold at an online-only auction.

The 28.86-carat D-color, emerald-cut, VVS1 Type IIa diamond just exceeded its high estimate selling for $2.1 million at Christie’s Jewels Online sale concluded Tuesday.

Overall, the auction sold 100 percent by value and 93 percent by lot, with 64 percent of lots topping their high estimates.

Christie’s said the D-color diamond began receiving bids as soon as the sale commenced on June 16, earning a total of 31 bids from four countries spanning Asia to America.

Overall, the jewelry auction’s bidders spanned 27 countries and five continents, while daily online engagement was up 70 percent from the June 2019 Jewels Online sale.

Other noteworthy jewels include four pieces from Graff that were the second, third, fourth and fifth most expensive lots sold: a 46.57-carat cascading round diamond necklace that earned $275,000; a 40.86-carat “Ladygraff” diamond watch that sold for $175,000; a “Butterfly” pink sapphire and diamond watch that earned $150,000, triple its low estimate; and a diamond and sapphire necklace that fetched $87,500.

Christie’s International Head of Jewelry Rahul Kadakia noted of the headlining diamond: “The sale of this exceptional stone established the record for a jewel sold in an online-only auction, demonstrating greater client confidence in Christie’s digital ability and online sale platform.

“We now look forward to the beginning of our live auction season for jewelry spanning all major Christie’s global sale sites, led by a $8 million fancy intense blue IF diamond of 12.11 carats offered in Hong Kong on July 9.”

Christie’s first in-person sale following the disruption caused by COVID-19 will be its Fine Jewels sale July 8 in Paris.

Following the July 9 Hong Kong sale, Christie’s will hold Magnificent Jewels sales in Geneva and New York this month, as well as an Important Jewels sale in London.

The auction house also has three online-only jewelry and timepiece sales slated for July: Diamonds That Care from July 3-13; 101 Cartier Clocks from July 7 to 21; and Jewels Online from July 22 to Aug. 6.