Christie's Online Diamond Sale Garners $1.5M

RAPAPORT... The first Christie's online auction dedicated solely to diamonds achieved $1.5 million, with a Graff necklace coming in as the top lot.The piece features a detachable pendant with a pear brilliant-cut, 20.21-carat, fancy-deep-yellow-brown, VS1-clarity diamond and 47.29 carats of white diamonds. It brought in $325,000, falling within its presale estimate range, Christie's announced last week at the end of the Jewels Online: Summer Sparkle sale. A ring with an old mine brilliant-cut, 12.02-carat, K-color, VS1 diamond went for $118,750 at the auction, well over its $70,000 high estimate. Another ring, containing an oval brilliant-cut, 4.80-carat, E, SI1 diamond and two triangular diamonds, also exceeded expectations, fetching $87,500 against a high estimate of $60,000.Other notable items included a square modified brilliant-cut, 8.16-carat, fancy-yellow diamond on a ring with two triangular diamonds bracketing it, which beat its high estimate at $81,250. A pear brilliant-cut, 5.03-carat, D, VS2 diamond in an 18-karat blackened-gold ring also performed well, selling for $75,000 - just below its upper estimate.In total, Christie's sold 84% of the items on offer at the auction, which ran from August 12 to 27. Some 28% of participants were new, placing bids from more than 20 countries, the auction house reported.Image: The Graff necklace featuring a 20.21-carat diamond. (Christie's)