Which big players influence diamond prices?

Like any market, the diamond market also has a few players who are big enough to influence diamond prices. The price of diamonds is not only related to their intrinsic value, supply and demand also plays an important role. These auction houses know exactly how to adapt themselves accordingly.

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How do major auction houses influence global diamond prices?

Christie's and Sotheby's, two prestigious auction houses dating back to the 18th century, significantly impact worldwide diamond prices through their high-profile sales. These powerhouses specialize in auctioning extraordinary jewelry collections from celebrities, royalty, and notable collectors. In 2017, Christie's reported jewelry sales of €462.5 million, with a diamond necklace fetching €28.2 million, while Sotheby's achieved €458.1 million in sales, including the record-breaking CTF Pink Star Diamond at €59.1 million.

When these auction houses achieve remarkable prices for exceptional pieces, they influence the entire diamond market, affecting prices not just for auctioned items but also for retail diamonds. While traditional retailers often add additional markups due to complex supply chains and marketing costs, companies like BAUNAT maintain competitive pricing by sourcing diamonds directly and minimizing operational expenses.

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What is Christie's?

Since the 18^th century, Christie's has organized the most legendary auctions with highly rare collections. For example, they auctioned exclusive collections of celebrities such as Elizabeth Taylor, royalty like Princess Margaret, or members of high society such as Lily Safra. Such collections break records time after time and have kept Christie's at the top for 24 years. Christie's organizes live auctions and private sales but is also active online with an extensive e-commerce channel.

Their online sales accelerated and facilitated the sale of a large collection of jewellery from collectors of all ages and several very well-known houses. In 2017, their total jewellery sales equalled € 462.5 million. Their diamond prices reached a peak in 2017 with a diamond necklace was auctioned for € 28.2 million.

What does Sotheby's do?

Sotheby's offers extraordinary jewellery to experienced and new collectors, from 19^th century antique jewellery to modern pieces from well-known houses. The jewellery team of Sotheby's is firmly convinced that jewellery is the most personal form of decorative art because of the wonderful stories each piece carries. The auction house has auctioned breath-taking collections of prominent figures such as Ava Gardner, Jacqueline Kennedy Onassis and Maria Callas.

In 2017, Sotheby's earned approximately € 458.1 million from their jewellery auctions. Sotheby's diamond prices for 2017 reached an exceptional level with the CTF Pink Star Diamond , which went under the hammer for a ground-breaking € 59.1 million.

Why are they so exceptional?

These two auction houses play a leading role in providing the most exceptional artworks and jewels to the world. Due to the increasing diamond prices of just these two auction houses, the entire market is affected. The huge amounts that the houses collect break records per piece and per carat. As a result, worldwide diamond prices are rising not only for diamonds that are auctioned, but also for diamonds and diamond jewellery offered in stores. These rising diamond prices are often pushed up even more in traditional retail, partly because of the long journey a diamond has to travel, with many stopovers along the way.

At BAUNAT, you get the best prices because we buy diamonds at the source. No expensive marketing campaigns and commercial premises means more value exclusively for you. How can I buy diamonds for the best price possible? Ask the BAUNAT diamond experts for advice about your investment in diamonds or unique diamond jewellery.