Sotheby's Results / NY Auctions Raise Jewelry Sales to $450.5 Million in 2012 - Highest Total in Company History
Prominent New York Collections
Propel Sotheby’s Magnificent Jewels Auctions
To $64.8 Million
SOTHEBY’S WORLDWIDE JEWELRY SALES IN 2012
TOTAL $450.5 MILLION TO-DATE:
ALREADY THE HIGHEST ANNUAL TOTAL IN COMPANY HISTORY
– – Today’s Sales Led By – –
Evelyn H. Lauder’s Magnificent Fancy Intense Pink Diamond Ring,
Sold for $8.6 Million
Jewels from the Collection of Mrs. Charles Wrightsman
That Achieve $15.5 Million
Jewelry from the collections of Estée Lauder, Evelyn H. Lauder and Mrs. Charles Wrightsman led today’s auctions at Sotheby’s New York to achieve $64,765,013, exceeding their overall pre-sale high estimate of $63.3 million*. This figure raises the 2012 total for Sotheby’s worldwide jewelry auctions to $450.5 million – already a new record high for the company’s sales in this category**, with one auction remaining this month – and also marks the highest-ever total for a day of jewelry sales at Sotheby’s New York***.
“It has been an honor to present the collections of these great women at auction,” commented Lisa Hubbard, Chairman, North & South America, Sotheby’s International Jewelry Division. “With Mrs. Wrightsman’s jewels, we saw how her connoisseurship and legendary eye translated to a collection encompassing everything from coral pieces to antique diamonds and natural pearls. And in researching the Lauder collections, we have been overwhelmed by how many lives both Estée and Evelyn touched. It is particularly gratifying to know that the success of today’s sale will continue Evelyn Lauder’s mission by supporting The Breast Cancer Research Foundation®.”
Mr. Leonard A. Lauder, Chairman Emeritus, The Estée Lauder Companies and Acting Chairman of The Breast Cancer Research Foundation®, stated, “On behalf of the Lauder family, we are very pleased that the beautiful unique pieces owned by my mother Estée and my dear wife Evelyn have found new homes, while at the same time raising significant funds for The Breast Cancer Research Foundation. My sincere gratitude to Sotheby’s and to those who participated in this auction. Our hope is that one day this disease will be a thing of the past and with the money that was raised tonight, we are one step closer to achieving our goal.”
MAGNIFICENT JEWELS FROM THE COLLECTIONS OF ESTÉE LAUDER AND EVELYN H. LAUDER
Sold To Benefit The Breast Cancer Research Foundation®
Today’s sales concluded with a selection of jewels from the collections of Estée Lauder and Evelyn H. Lauder, which together sold for a remarkable $22,248,250, well above their overall high estimate of $18 million. The net proceeds from the collections will benefit The Breast Cancer Research Foundation, founded by Evelyn Lauder in 1993.
Evelyn Lauder’s Fancy Intense Pink Diamond and Diamond Ring, Oscar Heyman & Brothers led the day’s results, selling for $8,594,500 ($1.3 million per carat) above a high estimate of $5 million. At least six bidders competed for the Internally Flawless stone weighing 6.54 carats, whose pink color serves as a visual reminder of Evelyn’s work supporting breast cancer research and awareness. From the collection of Estée Lauder, a Fancy Intense Yellow Diamond and Diamond Pendant-Necklace, Van Cleef & Arpels, New York, 1978 achieved $2,546,500 (est. $1.5/2 million). The necklace is set with a heart-shaped Fancy Intense Yellow diamond weighing 47.14 carats, which Estée Lauder purchased directly from her friend the Duchess of Windsor in the 1970s.
MAGNIFICENT JEWELS FROM THE COLLECTION OF MRS. CHARLES WRIGHTSMAN
This evening’s session opened with the much-anticipated sale of jewels from the collection of philanthropist and arts patron Mrs. Charles Wrightsman. The collection totaled $15,541,188 – well in excess of its $9 million high estimate – and sold a very strong 95.2% by lot.
Mrs. Wrightsman’s jewels were led by a Magnificent Natural Pearl and Diamond Corsage Ornament,circa 1910, which sold for $2,042,500 after heated competition between seven bidders (est. $800,000/1.2 million). The Belle Epoque brooch inspired by Eastern design motifs features three Golconda-type diamonds, weighing 8.67 carats, 8.78 carats, and 9.59 carats. In addition, a Rare Natural Gray Pearl and Diamond Brooch set a new auction record for a single natural gray pearl at $1,874,500, more than triple its high estimate of $600,000.
* Pre-sale estimates do not include buyer’s premium.
** The previous highest total for a year of jewelry sales at Sotheby’s worldwide was $404.6 million, achieved in 2010.
*** The previous highest total for a day of jewelry sales at Sotheby’s New York was $53,327,840, achieved in December 2010 with the auctions of Magnificent Jewels and Jewels from the Estate of William B. Dietrich.
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