Major auction houses reported strong performances of the diamond and fine jewellery categories at various auctions held in 2021, which they attributed to solid market demand.

Sotheby’s said 2021 was a record year in its history, driven by robust demand and an influx of new collectors as well as enhanced offerings and platforms. In the jewellery scene, a wide range of collectors acquired 52 per cent of the value of all jewellery sales, including that of the second largest pear-shaped diamond to appear on the market, which sold for US$12.3 million – the highest price for any jewellery or gemstone purchased with cryptocurrency.

The company also made waves when it held a first selling exhibition dedicated to black jewellery designers. It was also the first auction house to loan jewellery for the Met Gala. 

Christie’s likewise recorded strong growth in the luxury category, which includes jewellery, watches, handbags and wine. Last year’s auction and private sales reached US$980 million, up 153 per cent from 2020. Jewellery sales were led by the Sakura diamond in Hong Kong, which at 15.81 carats is the largest purple-pink diamond ever offered at auction. The piece achieved a record-breaking US$29 million. Another notable sale was that of Marie-Antoinette’s diamond bracelets in Geneva, which generated US$8.2 million.

Online demand for jewellery likewise soared, recording a 101 per cent increase in the number of lots sold online between 2019 and 2021, according to Christie's.