Huge flawless diamonds and pieces by Cartier, Bulgari and other big-name jewellers have sold for several times estimated prices at a Sotheby's sale.
The semi-annual sale in Geneva, Europe's capital for jewels at auction, netted 60 million Swiss francs (€42.4 million) last night, nearly double the low end of its pre-sale estimate.
"There were very, very strong prices for high-quality jewels. A mix of period pieces, jewels of royal provenance and spectacular gems all found new owners, many times exceeding the estimate," said David Bennett, chairman of Sotheby's Europe and Middle East jewellery department.
About half of the lots sold for above their estimate, he said. "It's a tremendous result."
Top lot was a blue cushion-shaped diamond weighing 7.64 carats, mounted in a yellow gold and platinum ring, which went for €6.35 million to an anonymous buyer who paid double the pre-sale estimate.
"This is a world record per carat for a fancy, intense blue diamond at auction," Mr Bennett told a packed salesroom as he brought down the hammer to applause.
A white emerald-cut diamond weighing 52.82 carats, which he called "one of the most beautiful stones to come to auction for several years", fetched €6.27 million francs after hectic bidding.
It went to a US jewellery dealer, according to Sotheby's, whose pre-sale estimate was just over €5 million for the flawless stone with top grading for polish and symmetry.
A stunning ring by Alexandre Reza mounted with a vivid blue diamond of 5.02 carats alongside a white diamond of the same pear-shape of 5.42 carats sold for nearly €5 million to a private collector.
Mr Bennett said it was a world record at auction for a piece designed by the French jeweller.
Rival Christie's has estimated it could fetch between €16 million and €24 million at its own sale tonight. Its star lot is a flawless rectangular-cut white diamond of 40.21 carats, estimated at up to €4.4 million.
Reuters