Video Related To: Rare ‘Sun-Drop’ Yellow Diamond Sells For $10.9M

RAPAPORT... Christie's and Sotheby's held diamond and jewelry auctions this week in New York. Strong prices were achieved for diamonds at both sales. Christie's New York held its auction on October 21. During the morning session titled: Jewels - the New York Sale and the Annenberg Diamond, the total garnered $27801800. The top lot was the Annenberg Diamond, a 32.01 carat, D, flawless emerald-cut diamond flanked by two pear-shaped diamonds of 1.61 carats and 1.51 carats, which sold for $7698500 against a presales estimate of $3 million to $5 million. Together with the afternoon sale, Christie's Rare Jewels and Objets dArt: A Superb Collection, Christie's reported a grand total of $46513050 and a combined sell-through rate of 85 percent by lot. Rahul Kadakia, head of jewelry at Christies New York, said, it was as if the recession never happened. "Virtually every lot exceeded its estimate and the $7.7 million Annenberg Diamond astonished even the most seasoned diamond dealer. It was an auction to remember. And if this were not enough, the sale started again at 2:30 pm and continued until 7 pm, giving collectors opportunity to acquire exceptional masterpieces from the superb collection of Rare Jewels and Objets dArt. The Annenberg Diamond ring was designed by David Webb. François Curiel, chairman of Christies Europe and International head of jewels, said, The Annenberg Diamond of 32.01 carats combines the best of the 4 Cs: Top color, perfect clarity, ideal cut, and excellent <b>...</b>