Christie's Garners $5M at Paris Auction

RAPAPORT... Christie's brought in $5.2 million from its Fine Jewels sale in Paris, with several pieces smashing their presale estimates.A ring by designer Verdura, featuring a rectangular cut-cornered, 5.57-carat Kashmir sapphire and rectangular cut-cornered, H-color, VVS1-clarity diamond weighing 5.53 carats, fetched EUR 274,000 ($310,418), the highest price for a jewelry item. Christie's sold a total of 79% of the lots on offer at the sale Wednesday, it said.Meanwhile, a diamond and ruby desk clock by Van Cleef & Arpels, which was part of Jacqueline Kennedy Onassis's personal collection, sold for EUR 310,000 ($351,203), nearly eight times its low estimate, following a five-person bidding battle.A Cartier ring set with an old-cut, 14.37-carat, Y-Z color diamond with VS2 clarity went for EUR 175,000 ($198,256), approaching its EUR 180,000 ($203,920) high estimate, while a Van Cleef & Arpels emerald and diamond necklace garnered EUR 81,250 ($92,044), double its presale estimate. "[The results] prove that collectors are still eager to acquire beautiful pieces of jewelry," said Violaine d'Astorg and Mafalda Chenu, specialists at Christie's.Buyers came from 30 different countries, with 39% of sales being made over the internet, while 43% were purchased by phone, Christie's noted.Image: The sapphire and diamond Verdura ring. (Christie's Images Limited 2020)