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Geneva–A day after the three top diamond lots failed to sell at Sotheby’s auction in Geneva, a Christie’s auction in the same city sold only 50 percent by lot.

“Jewels: The Geneva Sale,” held on Thursday in the Swiss city, totaled $22.5 million, with the level of prices falling 20 percent-30 percent below what was realized last spring, according to a release from Christie’s.

Despite difficult economic times, the top lot sold, a 42.28-carat Kashmir sapphire that went for $3.49 million or $82,500 per carat, setting a new world record price for a sapphire sold at auction.

Other lots sold included a Van Cleef and Arpels ring featuring a 22.9-carat rectangular-cut, D-color, potentially internally flawless diamond, purchased by a private European buyer for $2.04 million, and a 63.22-carat rectangular-cut fancy intense yellow diamond ring, which fetched $1.3 million.

Eric Valdieu, senior vice president of Christie’s Switzerland, acknowledged that it is a difficult market, but also noted the record sale price for the sapphire and overall strong bidding.

“Even though the level of prices is 20 to 30 percent below what it was in the spring, there was healthy bidding in the room, resulting in a sale that totaled $22.5 million,” he said. “Good prices were paid for natural pearls and vintage jewelry by an international audience with a strong contingent of Indian, Russian, Middle Eastern and continental European buyers.”

Among the top 10 lots was a Bulgari natural-pearl and diamond necklace, which was snapped up by the Indian trade for $522,500.