Magnificent Jewels Bring $39.6 million At Sotheby’s, Exceeding Expectations Your browser may not support display of this image. --100 carat Fancy Vivid Yellow Diamond Necklace Soars to $3,554,500 – --Jewels from The Collection of Patricia Kluge Bring $5,079,750--
Sotheby’s sales of Magnificent Jewels and Always in Style, a one-owner jewelry collection, achieved a combined total of $39,608,676 today, exceeding the combined pre-sale high estimate of $35.3 million* and continuing a vibrant spring season that began in Hong Kong with a record-breaking Asian jewelry sale. The New York sale of Magnificent Jewels brought $34,662,338 and was 91.7% sold by value and 83.7% sold by lot with colored diamonds, colored stones, and pieces with exceptional provenance dominating the most sought after lots. The special collection Always in Style: 150 Years of Artistic Jewels brought a total of $4,946,338, above the pre-sale high estimate of $4.4 million and was 90.5% sold by value and 87.1% sold by lot. The top price of the day was achieved by a Magnificent Fancy Vivid Yellow Diamond Necklace, which soared to $3,554,500 (est. $2/3 million).
Lisa Hubbard, Chairman of the International Jewelry Department, North & South America commented, “The various owners sale today brought the second highest total ever for a Magnificent Jewels auction in New York. It was a sophisticated sale for connoisseurs, defined by the extremely rare colored diamonds and colored gemstones that were offered for sale. Having traveled with the highlights around the world for the last two months, it’s clear this is a global market with buyers seeking top quality stones and special pieces wherever they are offered.”
The Magnificent Fancy Vivid Yellow Diamond Necklace, which totaled $3,554,500 (est. $2/3 million), from a private collection, featured 42 GIA-certified fancy vivid yellow diamonds weighing a total of 100.17 carats set in a graduated riviere style necklace. This spectacular jewel is believed to be the first necklace set entirely with fancy vivid yellow diamonds ever to have appeared at auction. Another rare colored diamond jewel the Fancy Intense Pinkish Orange Diamond Ring, set with a radiant stone of 7.67 carats, Internally Flawless and type IIa, was sold for $3,106,500 or $405,019 per carat, achieving the second highest price of the auction.
“Amongst the highlights of the sale today were some of the finest colored stones from private collections we’ve had the privilege to offer in New York,” said Gary Schuler, Director of Jewelry in New York. “Whether they are sapphires, rubies or emeralds, the market has demonstrated its continuing desire to own the rarest and finest from each of these categories as evidenced by the exceptional results we commanded today.”
A Ruby and Diamond Ring, set with a cushion-shaped Burmese ruby of 8.66 carats, achieved $2,098,500 or $242,321 per carat (est. $1/1.5 million) after being chased by more than five bidders. The ‘pigeon’s blood red ruby’ is one of the finest of its kind to be offered on the market, and was formerly owned by Isabella Stewart Gardner. Bidders clamored to purchase a Collection of Kashmir Sapphires weighing from 4.29 to 8.73 carats, which brought a collective total of $2,854,000 (total est. $1.1/1.5 million) and was led by a pair of 8 carat stones which totaled $1,082,500 (est. $300/400,000). An exquisite Emerald and Diamond Bracelet, Tiffany & Co., circa 1925, set with almost 40 carats of beautifully matched Colombian emeralds, once in the collection of Annie-Laurie Aitken, was offered from a private collection and climbed to $650,500 (est. $350/550,000).
For many bidders, provenance added to the allure of many pieces in the sale. Jewels from The Collection of Patricia Kluge were also the subject of heated competition in the saleroom, with the collection bringing a total of $5,079,750, above the total pre-sale estimates of $2.4/3.4 million. At least thirty bidders vied for a rare Sapphire and Diamond Panthère Wristwatch, Cartier, French, circa 1985, which sold for $686,500 (est. $100/150,000). Also from Mrs. Kluge’s collection, a Platinum and Diamond Ring set with a 20.15 carat pear-shaped Diamond, F color, I1 clarity, type IIa brought $962,500 or $47,766 per carat (est. $150/200,000) and a spectacular Pair of Platinum and Diamond Pendant-Earclips climbed to $1,058,500 (est. $600/800,000) after both were hotly contested by multiple international bidders. These jewels preview a unique joint sale offering of Albemarle House, the residence of Patricia Kluge, listed and offered currently by Sotheby’s International Realty. The interior contents will be offered in a Sotheby’s house sale to take place on the grounds of the Charlottesville, Virginia estate on 8 and 9 June. An additional selection of Patricia Kluge’s decorative jewels will be offered in June at Albemarle House. For more information about Albemarle House and The Collection of Patricia Kluge, visit www.sothebys.com/kluge .
The Marlene Rose, a Platinum and Diamond Brooch, circa 1930, formerly in the collection of Marlene Dietrich, totaled $98,500 (est. $30/50,000). The jewel, given to her by Josef von Sternberg, was said to be her favorite brooch and her signature piece of jewelry. A collection from the Estate of Nancy M. Daly spanning the 20th century and featuring important diamond jewels as well as less formal gold contemporary designs in keeping with her life in southern California totaled $970,125 (est. $450/650,000) with a Platinum and Diamond Necklace, Cartier, circa 1915 fetching $194,500 (est. $60/80,000).
The auction’s top white diamond price of $166,324 per carat was achieved by a Platinum and Diamond Ring, set with a round 9.25 carats D color, Internally Flawless, type IIa graded stone with excellent cut, polish and symmetry, which sold for $1,538,500 (est. $1/5 million).
The day began with Always in Style: 150 Years of Artistic Jewels, a chronology of jewelry design over the last two centuries featuring examples from the 19th century, Belle Époque, Art Deco, 1940’s & 1950’s and modern periods. Demonstrating continued demand for signed and period jewels at all levels of the market, the sale achieved a total of $4,946,338, in excess of the pre-sale estimate of $3.1/4.4 million. The sale was led by a modern Platinum, Emerald Bead and Diamond Necklace with approximately 665 carats of emeralds and 43 carats of round diamonds, which achieved $422,500, well above the pre-sale estimate of $150/200,000.
MAGNIFICENT AND NOBLE JEWELS, GENEVA, 11 MAY 2010
Sotheby’s upcoming sale in Geneva at the Beau-Rivage Hotel will present a stunning selection of outstanding diamonds and colored stones, glamorous signed pieces by the most prestigious houses and important jewels with noble provenance. At the heart of the Magnificent Jewels sale will be an exquisite group of white and colored diamonds, the centerpieces of which will be a magnificent Emerald-cut White Diamond Ring, D color, Flawless and type IIa weighing 52.82-carats (est. in excess of $7 million) and a highly important Pear-shaped Fancy Vivid Blue Diamond weighing 5.02-carats set in the form of a toi et moi ring by the celebrated French jeweler Alexandre Reza. This Pear-shaped Fancy Vivid Blue Diamond weighing 5.02 carats is mounted alongside an exceptional white diamond of the same shape and weighing 5.42 carats. Coming from a private collection, the rare diamond ring, is expected to fetch $4/7 million.
*estimates do not include buyer’s premium
