EditorsNov 22, 2024
Out & About: Inside the CD Peacock MansionStep inside the nearly 21,000-square-foot suburban Chicago jewelry store with Editor-in-Chief Michelle Graff.
AuctionsAug 10, 2016
Christie’s announces record half-year results
Auction house Christie’s is having a record-setting year so far, announcing a 22 percent increase in total sales and noting its 20th consecutive year of auction market leadership in the jewelry sector.
Christie’s luxury category, which includes jewelry, watches and wine sales, have totaled $455.5 million in the six-month period ended June 30, a 20 percent increase as compared with 2013.
Colored diamonds have been instrumental in driving up the totals of Christie’s jewelry sales in the first half of the year.
The largest fancy blue vivid diamond in the world sold for $23.8 million at Christie’s May 14 sale of Magnificent Jewels in Geneva. The diamond’s price brought the auction’s total to more than $150 million and set a new world auction record for a jewelry sale.
RELATED CONTENT: Aided by big blue, Christie’s sale sets new record
Also in May, a 6.13-carat cushion-shaped fancy intense green diamond ring set a world auction word price for a fancy intense green diamond when it sold for $3.6 million. In June, a 5.50-carat fancy vivid pink diamond sold for $9.6 million at Christie’s New York, exceeding its pre-sale high estimate of $7.5 million.
Christie’s total sales, including for categories outside luxury, have increased to $4.47 billion in the first half of the year, driven not only by an increase in the value of artwork but also through digital engagement and new buyers, the auction house said.
Christie’s launched the Watch Shop earlier this year, an online-only retail model that provides e-commerce consumers with a place to buy rare, vintage and luxury timepieces through a retail store format, rather than as an online auction.
RELATED CONTENT: Christie’s enters retail with online watch store
Christie’s said to date, 33 percent of its Watch Shop consumers are new customers. While the average watch price is around $10,000, the highest price achieved on the digital store is $58,000.
The Watch Shop also is the most-viewed sale of any of Christie’s auctions or online sales to date in 2014, aiding in the watch category’s 10 percent growth in the first half of the year.
Online-only auctions also continue to attract new buyers and
drive revenue for the auction house, with sales up 87 percent to $14.4 million in the half-year period.
Christie’s first introduced online-only jewelry sales in 2013, and has held five of these auctions to date, offering pieces from brands including Chopard, Van Cleef & Arpels and Cartier. While the jewelry offered is at relatively lower price points as compared with its regular auctions, generally less than $50,000, the company has said the online-only sales have been instrumental in engaging new collectors from around the world.
The highest-grossing piece sold online this year (though not in an online-only auction) is a Van Cleef & Arpels diamond ring, which went for $2.8 million through Christie’s Live, part of its Magnificent Jewels sale held in Geneva in May.
Geographically, strong results in the first half of the year were recorded by region, with significant activity in the Americas. New York sales are up 31 percent to $1.76 billion, and sales in the EMERI region (Europe, the Middle East, Russia and India) have increased 22 percent to $1.45 billion.
“Christie’s continued position of leadership is evidenced again in our half-year results. Yet more important is that we are meeting our goal of serving more clients than any other art business globally and at all levels of collecting,” said Christie’s CEO Steven Murphy.
More on Auctions
The Latest
CollectionsNov 22, 2024
Piece of the Week: Xander Jane’s ‘Spiked’ Pearl StudsThese punk-inspired earrings from the new Canadian brand’s debut collection reveal the alter ego of the classic pearl.
SourcingNov 22, 2024
Facets of Fire Expands to Include Pear, Marquise DiamondsThe company brings its nanotechnology to two new fancy cuts for diamonds that feature its signature color and brilliance.
Brought to you by
Navigating Cybersecurity: Essential Guidance for JewelersFrom protecting customer data to safeguarding inventory records, it's crucial to learn how to tackle cybersecurity challenges.
Supplier BulletinNov 21, 2024
Tasha R Releases 2025 Labbelle Lab Diamond Jewelry CatalogSponsored by Tasha R
Weekly QuizNov 21, 2024
This Week’s QuizTest your jewelry news knowledge by answering these questions.
MajorsNov 21, 2024
Harris Jewelry Ordered to Reopen Claims Portal for Refund RequestsA federal court found that the jewelry store chain violated terms of the settlement reached after it was accused of defrauding customers.
CollectionsNov 21, 2024
Channel Elphaba in Muse’s ‘Have a Heart x Cynthia Erivo’ CollectionCynthia Erivo chose Dreams of Hope, an organization dedicated to empowering LGBTQA+ youth, as the charity for this year’s collection.
Brought to you by
Enhance Your Expertise with IGI’s In-Person Courses in NYCThis fall, sharpen your skills in jewelry grading, quality control and diamond assessment.
MajorsNov 21, 2024
Rocksbox Opens Pop-Up Store in San FranciscoThe new space was designed to evoke a warm, inviting vibe.
IndependentsNov 21, 2024
Mary Moses Kinney Is Now Part of The Edge’s Team Kinney, who spent nearly 30 years at IJO, has been hired to head Abbott Jewelry Systems’ new virtual marketplace.
CrimeNov 20, 2024
Sotheby’s to Pay $6.25M Settlement to NY State for Alleged Tax FraudThe auction house was accused of helping clients avoid paying taxes on millions of dollars’ worth of art purchased from 2010 to 2020.
Events & AwardsNov 20, 2024
Kering Debuts New Jewelry Award With Sustainability FocusThe four finalists will present their pieces at the 2025 JCK Las Vegas show.
CollectionsNov 20, 2024
Pamela Love Channels Surrealist Artists in New CollectionThe “Camera Oscura” collection showcases earring designs celebrating female Surrealist artists Claude Cahun and Leonor Fini.
Policies & IssuesNov 20, 2024
Columbia Gem House Raises $10K for Reforestation EffortsThe money will fund the planting of 10,000 trees in critical areas across Oregon, Arizona, Montana, and other regions.
Events & AwardsNov 20, 2024
The Jewelry Symposium Opens Registration, Scholarship ApplicationsThe event centered on advancing jewelry manufacturing technology will return to Detroit in May 2025.
CrimeNov 19, 2024
Woman Killed in Armed Robbery of Sacramento Jewelry StoreLocal reports identified the woman as the wife of the jewelry store owner.
MajorsNov 19, 2024
Trove Opens First US Flagship in NYCThe Australian jewelry box brand’s new West Village store will showcase new jewelers each month through its Designer in Residence program.
CollectionsNov 19, 2024
Snoop Dogg’s New Jewelry Collection Is All About Love“Lovechild” was created in partnership with Carolyn Rafaelian’s Metal Alchemist brand.
EditorsNov 18, 2024
Q&A: Helzberg CEO Brad Hampton on the Jeweler’s RebrandHampton discussed how Helzberg is improving the customer experience and why it was inspired by the company formerly known as Dunkin’ Donuts.
Policies & IssuesNov 18, 2024
Reciprocity Jewels Returns to NYC Jewelry WeekThe group will host several curated events and an exhibition of designer jewelry made with Peruvian gold traceable to the miners’ names.
CollectionsNov 18, 2024
Dolly Parton Shines in Collaboration with Kendra ScottThe collection honors the 50th anniversary of Dolly Parton’s “Love is Like a Butterfly” song, which shares a birth year with Kendra Scott.
Events & AwardsNov 18, 2024
IGI Jewelry Design Competition ReturnsThis year’s theme asks designers to take inspiration from classic fairy tales.
EditorsNov 15, 2024
Why Fine Jewelry Belongs at New York Comic ConSenior Editor Lenore Fedow makes the case for why more jewelers should be appealing to nerds at the annual event.
CollectionsNov 15, 2024
Marie Lichtenberg Battles Counterfeits with New ‘Raiz’in Scapular’ DesignsThe latest “Raiz’in” drop showcases a newly designed “Scapular” necklace and donates a portion of the proceeds to Make-A-Wish France.
WatchesNov 15, 2024
Piece of the Week: Citizen’s Commemorative Pocket WatchNo. 1 out of 100, the timepiece was created to mark Citizen’s 100th anniversary and will be auctioned off at Sotheby’s next month.
Recorded WebinarsNov 15, 2024
Watch: 10 Tips to Keep Your Jewelry Store Secure On the latest episode of “My Next Question,” two experts share best practices for store security during the holidays and year-round.
AuctionsNov 14, 2024
18th-Century Diamond Necklace Sells for Nearly $5M Sotheby’s sold the necklace, which potentially has ties to Marie-Antoinette, for $4.8 million to a woman bidding via phone.
