Mughal Magnificence: Christie’s auction nets $109M

| July 22nd, 2019

Mughal Magnificence: Christie’s auction nets $109M
"Mughal Magnificence: Christie’s auction nets $109M"

Christie’s sale of historic Indian jewelry and art was expected to be big, and it did not disappoint.

The auction netted a whopping $109.3 million in New York Wednesday, setting a few records along the way.

Maharajas & Mughal Magnificence” featured nearly 400 lots spanning 500 years, showcasing the culture of Indian jeweled arts from the Mughal Empire (founded in 1526) and the age of the Maharajas to present day.

It didn’t become the highest-grossing sale ever for the auction house, as some thought it could—that title still belongs to the evening auction of Elizabeth Taylor’s jewelry in 2011, which totaled $115.9 million—but it does rank as the second-highest auction total for a private jewelry collection, according to Christie’s.

It also is the highest total for any auction of Indian art and Mughal objects, Christie’s said.

Held in New York Wednesday the 19th of June, the auction took 12 hours and was 93 percent sold by volume and 92 percent sold by value, with bidders from 45 countries participating.

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Source National Jeweler

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