Whom You Know: Sotheby's Results: Jewelry Auctions Total $30.4 Million in New York

Monday, December 12, 2011

Sotheby's Results: Jewelry Auctions Total $30.4 Million in New York

Sotheby’s jewelry auctions achieved $30.4 million in New York yesterday, 7 December. The day began with the ‘white glove’ sale – 100% sold – of The Elegant John Traina – A Portrait in Style, which more than tripled its pre-sale high estimate of $570,000 in bringing $1,921,755. The following auction of Magnificent Jewels totaled $28,477,500, led by top prices for white diamonds, natural pearls, sapphires and emeralds.

“As has been the case throughout our recent auctions, yesterday’s sales saw persistent demand and strong results for unique and signed jewels,” commented Lisa Hubbard, Co-Chairman of Sotheby’s International Jewelry department, and Gary Schuler, Head of Sotheby’s Jewelry department in New York. “The one-of-a-kind Platinum and Diamond Sautoir Necklaceby Cartier sold for $1,650,500, above a high estimate of $1 million, while exceptional white diamonds and natural pearls brought top prices throughout the day. Though we are disappointed to have not found buyers yesterday for our top two stones amongst the rarified group of collectors at the highest end of our market, the results for the remainder of the sale demonstrate a continued demand for pieces of quality and unique character.”

http://www.sothebys.com/en.html

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