Sotheby’s global jewellery auctions raked in US$310.5 million this year, up 8 per cent from year-ago figures, on the back of growing global demand led by Asia and various digital innovations throughout a pandemic-led 2020.

According to the auction house, Asian buyers contributed 50 per cent of total jewellery sales, with six out of the 10 most valuable jewels sold this year going to an Asian client. 

Amid coronavirus restrictions, the company resorted to online auctions, which were positively received by audiences. More than 47 online sales achieved US$69.2 million – double the number of sales and almost eight times the value for 2019.

Worldwide Chairman of Sotheby’s Jewellery Division Gary Schuler commented, “The unprecedented times have been a catalyst for change, mobilising all our imagination, creativity and digital capabilities to provide new, innovative ways to meet the growing global demand. We have launched new sale formats, a new auction calendar and a new buy now marketplace, allowing collectors to transact with us all year round, via our online platforms, in our salerooms, as well as in our new showrooms. 2021 will see this model further expand as we continue to cross new frontiers and pioneer new ways to celebrate jewellery.”

Highlights of Sotheby’s 2020 auctions include an eclectic palette of diamonds and coloured gemstones.

The Spirt of the Rose, a 14.83-carat fancy vivid purple-pink internally flawless diamond, sold for US$26.6 million in Geneva in November and broke world auction records for a purple-pink diamond. Described as the world’s largest vivid purple-pink diamond ever to appear at auction, it was the most valuable jewel ever sold this year, according to Sotheby’s.

At a Hong Kong sale in October, the company auctioned a 102.39-carat D-colour flawless oval diamond for US$15.7 million as the first world-class diamond ever offered without reserve.

Coloured gemstones were also in high demand. A Cartier ring with a 21.86-carat Colombian emerald fetched US$3.65 million in New York in December while a ring, designed and mounted by FORMS, with a 6.41-carat unheated Burmese “Pigeon’s Blood red” ruby was snapped up for US$2.8 million in Hong Kong in October.

The sale of an imperial green jadeite, ruby and diamond necklace for US$10.4 million in Hong Kong in July meanwhile signaled the revival of the fine jadeite market, said Sotheby’s.

Also notable was the record sale of the iconic “Tutti Frutti” Cartier bracelet for US$1.34 million in a single-lot online sale in April.