Banks vigilant over gold loans to jewellers

High-risk tag of the industry is reportedly making the banks reluctant to lend for the industry.

Post By : IJ News Service On 16 February 2015 6:01 PM
Christie’s New York Jewels sale held on December 7, 2010, generated revenues worth $22,140,350. Of the total 212 lots offerd for sale, 176 lots went down the hammer. A rectangular-cut Fancy Vivid Purple-Pink diamond of 6.89 carats was the top lot selling for $6,914,500 ro or $1 million per carat. The sale of the 6.89 carat Fancy Vivid Purple-Pink diamond succeeds the sale of ‘The Perfect Pink’ at Christie’s Hong Kong sale on 29 November for record-breaking $23.1 million. %% Rahul Kadakia, Head of Jewelry at Christie’s Americas, comments: We are also pleased to report an immediate after-sale of a 37.57 ct Kashmir sapphire ring for $542,500. The results of the day’s sale bring our New York jewelry sales total to $131 million for the year – the highest total ever for the U.S. jewelry auction market. We look forward to our next sale at Christie’s Paris on December 13 and 14, featuring a great selection of jewels by JAR.” %% The remaining of the top 10 lots sold include: A cushion-cut D color VS2 diamond ring of 22.79 carats sold for $2,826,500; a pear-shaped Fancy Intense Pinkish Orange diamond ring of 10.91 carats was bought for $2,378,500; a modified rectangular-cut Fancy Purple-Pink diamond ring of 7.30 carats by Taffin sold for $902,500; an Art Deco “Mystery” Clock, by Cartier, circa 1920, sold for $710,500; an Art Deco Diamond and Onyx Pendant Brooch, by Cartier, circa 1910 sold for $434,500; a cushion-cut Kashmir sapphire of 14.55 carats sold for $422,500; a Diamond Line Necklace, by Tiffany & Co. sold for $362,500; a pear-shaped D color, IF diamond ring of 5.03 carats sold for $350,500 and a circular-cut H color, VVS2 diamond “Bee” ring of 8.48 carats, by Jean Schlumberger, Tiffany & Co sold for $338,500.

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