The sales of jewels and crystals broke world records at Geneva auctions held on Tuesday, May 24th, 2011. There were plenty of note-worthy sales of diamonds and crystals that were made at the Sotheby’s sale. David Bennett, chairman of the Sotheby Jewelry Department stated, “This evening’s results, across the board–in noble jewels, diamonds, colored gemstones, and pieces signed by the world’s greatest jewelers–show the extraordinary appetite among connoisseurs for rarity, quality and provenance.”

A rare emerald and diamond tiara, sold for more than $12 million, broke an auction world record price. It had been estimated to sell only between $5 and $10 million but definitely proved the buyers and spectators wrong as it set a new auction world record of an emerald jewelry piece. Sales totaled to be around $89 million, 90 percent was sold in lots and 97% was sold according to value.

Another jaw-dropping sale included a rare intense pink diamond ring that was sold for $11 million. It ranked the 3rd highest price for any pink diamond to be sold at an auction. Not only did it rank the 3rd highest price among pink diamonds to be sold, but it also ranked the 9th highest price for any type of diamond in an auction.

The highest ranking lot that sold at the auction was a heart-shaped 56-carat diamond that sold for in excess of $10 million. It set a record to become the most expensive heart-shaped diamond to ever be sold an auction.

The jewelry sales in Geneva were successful because of such strong high bidders. Francois Curiel, Christie’s Switzerland president, Francois Curiel, stated that Geneva Switzerland is still an important specialized auction center even forty-two years after the first sale.

Read more about the record breaking auction at:
http://www.nationaljeweler.com/nj/fashion/article_detail?id=26482