Sotheby's Results / 74.79 Carat White Diamond Sets $14.2 Million Auction Record in New York
74.79 Carat Diamond Fetches $14.2 Million
At Sotheby’s New York
NEW AUCTION RECORD FOR ANY
WHITE DIAMOND SOLD IN THE AMERICAS
– Jewels Descended through the
Family of Jay Gould Achieve $7.9 Million –
$53.5 MILLION IS HIGHEST-EVER TOTAL
FOR A SPRING SALE OF JEWELRY AT
SOTHEBY’S NEW YORK
NEW YORK, 17 April 2013 – Sotheby’s set a new auction record this afternoon for any white diamond sold in the Americas when an exceptional pear-shaped diamond of nearly 75 carats achieved $14,165,000 (est. $9/12 million). Five bidders vied for the stone, which represents one of very few pear-shaped diamonds of D color over 50 carats to be auctioned in recent decades. The Magnificent Jewels sale brought $53,490,938 in total, marking a new record sum for a spring auction of jewelry at Sotheby’s New York, and was a strong 82.4% sold by lot.
Jewels from prominent private collections performed remarkably throughout the day, led by a group of six pieces descended through the family of legendary financier and railroad magnate Jay Gould. The vintage jewels sparked intense competition, soaring to a combined $7,905,250 that more than doubled their overall high estimate of $3 million. The group was led by an Emerald and Diamond Brooch centered by a 22.48 carat Classic Colombian emerald that brought $2,909,000 – nearly five times its high estimate of $600,000.
Lisa Hubbard, Chairman, North & South America, Sotheby’s International Jewelry Division, commented:“The truly exceptional 74.79 carat stone was a thrill to auction, and exemplifies the strength of the market for white diamonds over the last decade – it was acquired by the present owner in 2001 for $4.3 million, and today sold for a record $14.2 million. We were thrilled to see pieces from the Gould family join the ranks of magnificent private collections that we have had the privilege to offer at Sotheby’s. This is what collectors come to auction to see and experience: wonderful period pieces that are fresh to the market, and set with jewels of outstanding quality. In addition, signed pieces and iconic styles were led by an incredibly rare example of Cartier’s ‘Tutti-Frutti’ bracelets, which closed the sale with an incredible $1.4 million result.”
Sotheby’s New York
Magnificent Jewels
Auction 17 April 2013
Property of a Private Collector
An Exceptional Pear-Shaped Diamond
Weighing 74.79 carats, D color, VVS1 clarity, potentially Internally Flawless, type IIa
Estimate $9/12 million
Sold for $14,165,000
**Auction Record for Any White Diamond Sold in the Americas**
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Sotheby’s has been uniting collectors with world-class works of art since 1744. Sotheby’s became the first international auction house when it expanded from London to New York (1955), the first to conduct sales in Hong Kong (1973) and France (2001), and the first international fine art auction house in China (2012). Today, Sotheby’s presents auctions in eight different salesrooms, including New York,London, Hong Kong and Paris, and Sotheby’s BidNow program allows visitors to view all auctions live online and place bids in real-time from anywhere in the world. Sotheby’s offers collectors the resources of Sotheby’s Financial Services, the world’s only full-service art financing company, as well as private sale opportunities in more than 70 categories, including S|2, the gallery arm of Sotheby’s Contemporary Art department, as well as Sotheby’s Diamonds and Sotheby’s Wine. Sotheby’s has aglobal network of 90 offices in 40 countries and is the oldest company listed on the New York Stock Exchange (BID).
*Estimates do not include buyer’s premium and prices achieved include the hammer price plus buyer’s premium.
