1990: Christies Diamond Sales Are Not Jerked By Worldwide Financial Turmoil
Christie’s annual Magnificent Jewels sale in New York fetched a total of $28,377,188. The top lot, a square-cut D internally flawless diamond ring of 30.21 cts. brought in almost $2 million or $63,800 per carat.
Against the background of turmoil in worldwide financial markets during the week of the sales, Simon Teakle, senior vice president and head of Christie’s Jewelry Department for North and South America commented that “the market proved its resilience… [with] buying… strong from private and trade buyers alike.” He added that while “there was reduced buying from Asia, it was still present, which gave confidence to the market.
Christies’ and Sotheby’s alike sold more than 70% of their lots both by value and piece.