Christie’s reports luxury sales 2020

Luxury online sales grew 205% in the value term!

Online jewellery sales remained up by 143% in amount 

Comment from Aline Sylla-Walbaum, Christie’s Global Managing Director, Luxury: “This year, when so many of our live sales could not be held in person, we quickly moved and scaled our sales even more towards online, where we were holding already sales for the past 10 years. In total we conducted 40 Luxury online sales (82%+ from 2019) with a 205% increase in the value of online luxury sales. 

Recent live auctions in Geneva and New York opted for a more hybrid approach, much appreciated by our clients – both, consignors and buyers. The one thing that I will take from this year, is the immense trust of our traditional and new client (+40%) base in our expertise to buy online, without the chance of seeing the objects in the flesh. Also a huge thank you is due to our consignors, trusting in our digital platform and in our excellent client relationships.”

Jewellery part of the report says, throughout 2020, 48 lots sold over $1m and global jewelry sales achieved an overall sell-through of 84%. There was global participation with bidders hailing from 74 countries and a meaningful reach to new audiences with 32% new buyers. Online sales were at an all-time high with 143% increase in the amount of online sales; 38% increase in lots sold online; and a 241% increase in the value of online jewels sales YoY. 

In June 2020, Christie’s established the record for a jewel sold in an online auction with a 28.86 Carat, D Color Diamond achieving $2,115,000. The top lot for Christie’s Jewels for the year was a fancy intense blue, marquise-cut, internally flawless, diamond ring of 12.11 carats, which sold in Hong Kong in July for $15,870,815.

In the November Geneva Magnificent Jewels sale, a new auction record price per carat was established for a fancy purplish-red diamond, set into a ring by Graff. The 1.05 carat stone sold for CHF2,760,000, translating into price per carat at $2,640,000. 

In the December New York Magnificent Jewels sale, the top lot of the sale was an extraordinary Kashmir sapphire and diamond bracelet of 43.10 carats surrounded by D color internally flawless diamonds that was purchased for $6,030,000 by Harry Winston to add to their Legacy Collection.  

New strides were made for Jewels Online sales with online sales expanded to every major sale site. In addition to Hong Kong and New York, for the first time this year, online Jewels sales were hosted in Paris, London, and Geneva. Christie’s remained successful in making our digital footprint as global as our auction footprint. 

These sales were met with strong results, as seen with the first-ever online Magnificent Jewels Online sale from Geneva, which sold 89% of all lots and 100% by value, attracting over 1,500 bids from around the globe. Overall, the department hosted 17 online sales including the curated Jewels Online sales, Summer Sparkle, the inaugural diamond online sale, and Iconic Designs; alongside charitable online auctions including Together for Children | #Sparkle Together; and Diamonds that Care: A Charity Auction. 

Christie’s Jewels also supported collections with charitable initiatives including Jewels offered in loving memory of Lana Chenko-Haddad to benefit the Shriners Hospitals for Children, the ASPCA, and Breast Cancer Research; Property from the Collection of Athena Blackburn Sold to Benefit Charitable Causes; and The Elizabeth Taylor AIDS Foundation, which achieved a combined total of over $2million for charitable online sales and collections.