8 min read

Christie's New York Spring Luxury Sales Achieve $70.3 million

Published on
June 17, 2024
Sharon Obuobi
Editor in Chief
Akosua Kissiedu
Business Intelligence Editor
Hai Ngan Bui
Business Intelligence Writer
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NEW YORK – On Friday June 14th, Christie’s concluded Luxury Week, a series of six live and online auctions for Jewelry, Watches, Wine, and Handbags. The sales overall totaled $70.3 Million selling 137% of the pre-sale low estimate.  Throughout the sales, there were notably high sell-through rates, averaging over 94% per lot. The live auctions also experienced significant online engagement, with 52% of winning bids placed via Christie’s Live. The sales attracted global participation across 6 continents, with bids and purchases originating from 71 countries, including 42 states within the US. Christie’s continues to demonstrate leadership and innovation in the luxury sector, with a team of specialists renowned for their expertise. The Luxury Spring Season once again underscored the market’s resilience and Christie’s proficiency in luxury auctions.

The Important Watches live sale took place on June 10th and achieved a total of $13.3 Million. The sale was 100% sold by lot with 139% sold by value versus the low estimate, reflecting the outstanding quality and appeal of the timepieces presented. 38% of the winning bids went to online buyers. The top lot of the live sale was a Richard Mille Limited Edition RM56-02 AO Tourbillon Sapphire watch, which fetched over $3 million. This timepiece became the most expensive watch ever sold at Christie’s in New York and the third highest-priced Richard Mille globally. Another Richard Mille watch, the RM56-02, exceeded $1 million, underscoring Christie’s robust track record in selling Richard Mille watches. Independent manufacturers such as Richard Mille, F.P. Journe, and MB&F accounted for over half of the sale’s full value.

Watches Online concluded on June 14th and achieved a total of $2,078,370, the sale was 94% sold by lot and 144% sold by value versus the low estimate. The top lot of the sale was an Asprey, An Extremely Attractive and Unique White Gold 'Daytona', With Turquoise Dial, Ref. 116509, No. 1/1 which sold for $189,000.

On June 11th sales continued with Magnificent Jewels, achieving an impressive $44.4 Million, the highest total for jewelry auctions in New York this season and was led by The Eden Rose – 10.20 carat Fancy Intense Pink, Internally Flawless Diamond selling for $13,290,000 ($1,186,607.14 per carat) exceeding its high estimate and becoming the top diamond of the season globally. The sale confirmed the worldwide interest in precious gemstones and exquisite jewels. Strong results were achieved throughout the sale for colored diamonds and colored stones including an 84.05 carat Fancy Intense Yellow Internally Flawless Diamond Pendant which sold for $2,167,500, 2.28 carats Fancy Vivid Blue VVS1 Diamond Ring which achieved $2,107,000.  Natural Pearls also performed exceptionally well with a Natural Pearl, Cultured Pearl and Diamond Necklace which achieved $378,000, five times its high estimate of $50,000. Christie’s excels in presenting private collections - The 16 jewels featured in Beauty in Design: Magnificent Jewelry from the Collection of Sunny Crawford von Bulow and Ala von Auersperg Isham totaled $1,400,000.

Jewels Online achieved $5.3 Million and was led by a Fancy Intense Yellow Diamond of 24.36 carats, VS2 clarity which sold for $327,600 or $13,448 per carat.

Fine and Rare Wines Online: Featuring The Landmark Cellar. achieved $1,734,938 and was 93% sold by lot, and 111% sold by value versus the low estimate. A new generation of buyers continue to be enticed by the category – millennials accounted for 30% of all buyers in the sale and 16% of the bidders and buyers were new to Christie’s. Throughout the sale, 6 world records were achieved. The sale featured collections including The Landmark Cellar which saw strong prices achieved for rare champagne, and Fine Bordeaux from a Colorado Collector which included the two top lots of the sale: a 12 bottles of Petrus 1982 and 12 bottles of Petrus 1989, both which realized $43,750. Another notable result came from 12 bottles of Château Haut-Brion 1989, which realized $23,750.

The Handbags Online: The New York Edit sale achieved $3.5 Million selling 97% by lot and 156% sold by value versus the low estimate. Throughout the sale, seven lots sold for more than $100,000. The sale saw global participation with 61% of bidders and buyers from the Americas, 20% Asia Pacific and 19% from Europe, with participation in the auction from 34 countries and 34 states in the US. The top lot of the sale was an Exceptional Shiny Black Porosus Crocodile Diamond Birkin 25 with 18K White Gold & Diamond Hardware, which realized $214,200, doubling its low estimate. A Limited-Edition Black Calf Box Leather So Black Kelly Pochette with Pvd Hardware Hermès, 2010 set a new world auction record for a leather Kelly Pochette, achieving $52,920 against a low estimate of $15,000.

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