Christie's unmounted flawless 62.3 carat diamond sold for CHF8.01 million (click on image to view larger)
Geneva, Switzerland (GenevaLunch) – Forget the girl’s best friend, diamonds that investors love are dazzling the jewelry world this week. Christie’s big November precious gems and jewelry sale in Geneva Wednesday 18 November ended on a high note, with the sale of a 62.3 carat diamond going for CHF8.01 million at the Four Seasons Hotel des Bergues.
Overall, the sale brought in CHF32.28m, another strong sign that the market has recovered, after Sotheby’s sold CHF37 million in jewels Monday. The buyer was Aleks Paul of Essex Global Trading in New York, a dealer who also walked off with two other lots of diamonds worth more than CHF5m.
And down the street at the Mandarin Oriental Hotel the Antiquorum sale of fine watches set a record price for watches sold in 2009: CHF5.12m for the Patek Philippe Yellow Gold Calibre 89, one of only four in the world, each unique.
Diamonds remain a wealthy person's best friend (Geneva auction 2008)
Switzerland (GenevaLunch) - There are 12.6 percent fewer of them: in 2008 Switzerland could boast only 185,300 millionaires if you counted their fortunes in dollars, but the drop in their numbers was smaller than worldwide, where the average decline in their numbers was 15 percent and their wealth slipped by nearly 20 percent. Those are among the findings of the 13th Annual World Wealth Report published by Merrill Lynch Global Wealth Management and Capgemini.
Hardest hit were the super-rich, whose incomes are above $30 million a year without counting their houses and cars: 2008 saw their numbers fall by 25 percent and the value of their holdings by an equivalent amount.
The report measures the number of high net worth individuals in the world and the sizes of their fortunes. It also tracks trends in their spending.
Geneva, Switzerland (GenevaLunch) – Fears that the jewelry market might be floundering in this economic crisis appear to be unfounded, with Sotheby’s selling CHF40 million worth of diamonds, rubies and other fine jewels as rings, necklaces, bracelets and tiaras Tuesday 12 May.
The rare fancy vivid blue diamond ring that was the centrepiece of the auction went for CHF10,498,50, ($9,488,754), comfortably above the estimated CHF6.8-10 million pricetag. The diamond was found in 2008 in South Africa’s famed Petra Diamonds’ Cullinan mine.
Rare "Vivid Blue Diamond" to be auctioned 12 May 2009 at Sotheby's, Geneva
Geneva, Switzerland (Genevalunch) – The shining star of the show when Sotheby’s auctions off its next batch of jewels 12 May in Geneva will be a rare “Fancy Vivid Blue” 7.03 carat diamond from a rough stone of 26.58 carats, never worn. The new owner will have the privilege of naming the stone, which is expected to fetch CHF6.8-10 million. The diamond was found in 2008 in South Africa’s famed Petra Diamonds’ Cullinan mine.
Another Fancy Vivid Blue diamond failed to sell in November 2008 in Geneva, raising questions at the time about the impact of the financial crisis on the fine jewels market.
Deep blue diamond, Sotheby's November 2008 in Geneva
New York, USA and Geneva, Switzerland (GenevaLunch) – The art markets and in particular fine jewels auctions were being watched closely at the end of 2008 for signs that they were suffering from the global economic crisis, but a new report from Art Market Review suggests that the jewelry market in particular has been more stable than expected. The review was prepared for Sotheby’s by industry observer Art Market Monitor.
Geneva, Switzerland (Tribune de Geneve, Fre) – The Tribune carries a story today about a concierge in Eaux-Vives who lost the family jewels and well over CHF3,000 when thieves took the family safe, a 110kg box that was bolted to the ground and wall. According to the paper, a safe is no safe place for valuables in the city, where thieves steal 5 to10 of them a week.
Title: Magnificent jewels for auction
Location: Geneva
Link out: Click here
Description: Jewelry auction begins at CHF 4,000
Date: 19 Nov 2008
Zermatt, Valais, Switzerland (Le Matin, Fre) – In a robbery worthy of a film script, three man wearing black masks arrived in the centre of car-free Zermatt in a car stolen the previous day in Lucern and broke into the Schindler jewelry store at 22:15 while passersby stared in amazement. MInutes later they fled with thousands of francs worth of jewels, according to Le Matin, and they fled on bicycles with no lights, disappearing into the darkening mountain night.
