At Christie’s Joaillerie sale in Paris on Dec. 17, the top 10 lots all exceeded their high estimates. The standout: an unmounted, oval 22.38‑carat Paraiba tourmaline from Mozambique hammered for €825,500 ($969,647) — almost seven times its high estimate — helping push the sale to a total of €8.9 million ($10.5 million).
- Price: €825,500 ($969,647)
- Carat weight: 22.38 ct (unmounted)
- Origin: Mozambique
- Date: Christie’s Joaillerie Paris, Dec. 17, 2025
Sales snapshot
Beyond the Paraiba, the top lots read like a ledger of 20th‑century ateliers and coloured‑stone powerhouses. Highlights included a 1947 Chaumet pearl necklace (final: €279,400), an unmounted 33.66‑ct indicolite tourmaline (€241,300), an Art‑Deco Cartier brooch/pendant (€228,600) and several Van Cleef & Arpels pieces from the 1970s (necklace €190,500; interchangeable hoops set €177,800). A JAR ring and a pear‑shaped 8.01‑ct diamond also surpassed estimates. Each lot displayed notable material quality — from satiny natural pearls to the Paraiba’s neon blue‑green with vitreous luster.
Context — 2025 market trends
The sale affirms three converging 2025 dynamics. First, provenance and house attribution continue to command a premium: pieces by Cartier, Van Cleef & Arpels, Chaumet and JAR drew robust bidding, their names conferring scarcity and price resilience. Second, demand for high‑quality natural coloured stones remains strong even as lab‑grown diamonds gain mainstream retail traction; buyers are treating rarer natural colours as alternative store‑of‑value assets. Third, sculptural aesthetics and tactile details — cabochon coral, frosted rock crystal, substantial heft in bead strands — are influencing collector preferences and auction estimates.
Impact for US retailers and investors
For US retailers, the lesson is tactical: invest in provenance and tactile presentation. Pieces with clear house attribution and visible materiality sell at a premium and travel well across auction platforms and private sales. Consider curating inventory that emphasizes texture and heft — satin‑finished pearls, cabochon stones, and bold coloured‑stone heads — and highlight condition and documented origin in listings.
For investors, Christie’s result is a reminder that quality natural coloured stones can outperform conservative estimates in a liquidity window. However, volatility remains: auction premiums can be amplified by single‑lot competition and collector narratives. Preserve upside by insisting on independent reports, secure storage, and staggered sale strategies rather than concentrated exposure.
What to watch next
Look for two follow‑through signals in 2026: sustained hammer rates above presale highs for coloured stones, and continued divergence between branded vintage pieces and anonymous property at auction. If both persist, secondary‑market pricing power will increasingly sit with named houses and singled‑out, well‑documented natural stones — a structural advantage US sellers and buyers should factor into buying, insurance and pricing strategies.
Main image: The top‑selling Paraiba tourmaline. (Christie’s)
Image Referance: https://rapaport.com/news/top-jewels-beat-expectations-at-christies/