By Ashley Davis
Christie’s is offering this Type IIa, 28.86-carat D-color diamond online next month.
New York—Auction houses have pivoted jewelry and watch sales online due to COVID-19, and Christie’s is pushing the envelope with its most valuable lot yet.

The auction house announced a 28.86-carat D-color, emerald-cut, VVS1 Type IIa diamond will headline its Jewels Online sale next month.

It’s estimated to earn between $1 million and $2 million and is the largest D-color diamond to be offered at auction online, according to Christie’s.

“As the jewelry auction market leader for over 26 years, our team continues to strategically innovate and bring to market the very best jewels for our clients,” said Christie’s International Head of Jewelry Rahul Kadakia.

“This year has presented unprecedented circumstances, enabling Christie’s new opportunities through our enhanced digital platform. Year-over-year, we have seen an increase in online participation and the value threshold for transacting online. Recognizing greater client confidence, we are proud to announce the highest valued lot ever to be offered for sale in our June 2020 Jewels Online auction.”

Christie’s pointed to several figures to indicate the demand for jewelry online, like the February sale of Graff ruby and diamond hoop earrings that sold for $187,500, which had a pre-sale estimate low of only $8,000.

An April online sale sold 99 percent by lot and boasted “unprecedented online engagement,” with 99 percent new visitors compared to April 2019. Actual new buyers were about 39 percent.

Meanwhile, the Hong Kong Jewels online sale concluded May 8 achieved the highest total for a Christie’s online jewelry sales in the region, earning $1.38 million.

Christie’s said it will continue holding an online jewelry auction each month. The Jewels Online sale, in which the 28.86-carat will be featured, is happening from June 16 to 30.

TAGS:   Auctions
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