Courtesy of RAPAPORT TRADE WIRE
Jewelry sales for Sotheby’s in 2012 surged to a record $460.5 million. The auction house stated that revenue from its jewelry sales was propelled by the success of private collections, exceptional diamonds and gemstones and historical jewels with noble provenance. Sotheby’s jewelry auctions worldwide achieved an average of 84% sold by lot. Seventy-two lots sold for more than $1 million, with six surpassing the $5 million mark. One highlight for the year came from a record sale of various-owner jewels at Sotheby’s Geneva, where the total achieved $108.4 million in May.
In the Americas, Sotheby’s experienced its highest single-day total for jewelry in December when its New York auction achieved $64.8 million. Sotheby’s annual total of $114.5 million in Hong Kong marked the company’s second-biggest year of jewelry and jadeite sales in Asia.