Whom You Know: Another Record Jewelry Sale at Sotheby's New York

Wednesday, September 21, 2011

Another Record Jewelry Sale at Sotheby's New York - 20 September 2011

Sotheby’s New York Jewelry department set its 5th consecutive record sale result today, when its auction of Important Jewels achieved $16,489,625 against an estimate of $12.9/17.8 million. This marks the highest total for a fall sale of Important Jewels at Sotheby’s New York, exceeding last September’s auction result that was also a record at the time.

“We are very pleased with the results of today’s sale, which brought another record auction total for Sotheby’s Jewelry,” commented Lisa Hubbard, Chairman of Sotheby’s International Jewelry department. “And we are particularly thrilled by the extraordinary price achieved by our cover lot, the Cartier ‘Tutti Frutti’ bracelet that achieved$842,500 – nearly triple its pre-sale high estimate. Thirteen bidders chased after the piece, which had not been attributed to Cartier for some time until Sotheby’s rediscovered the faint signature of the legendary jeweler.”

Gary Schuler, Head of Sotheby’s Jewelry department in New York, added, “Today’s auction saw an incredible 99% of sold lots meet or exceed their pre-sale estimates. Diamond prices in the sale reflected a solid market that appeared void of speculation, and there were strong prices for colored stones as well, led by the purplish-pink sapphire brooch that brought $254,500 above a high estimate of $120,000.”

http://www.sothebys.com

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