New York Jewelry Auctions Top $70 Million In June, Led By Diamonds

Live jewelry auctions in New York are easily keeping pace with multi-million-dollar watch auctions, and they remain the best venue for large diamonds, gemstones and signed pieces. Sotheby’s Magnificent Jewels sale in June totaled $30,033,900, and Christie’s hit the $44.4 million mark, for a combined haul of over $70 million between the two.

A 14.51-carat sugarloaf cabochon Kashmir sapphire ring that sold for $1.8 million at Sotheby's in June.
A 14.51 carat sugarloaf cabochon Kashmir sapphire ring that sold for $1.8 million at Sotheby’s

Fancy colored and large flawless diamonds, along with rare specimens of emerald, sapphire and ruby continue to rank in the top 10 lots at most auctions. In the Sotheby’s top 10, the seven highest-selling pieces sold for over $1 million, and the top two lots sold for over $3 million.

The auction was led by a $3.6 million piece of jewelry, a Van Cleef & Arpels necklace. The tassel-tie style long necklace was fully set with several cuts of perfectly matched diamonds in tapered sizes. It was made in 1929, and would be difficult to make or find anywhere today. The second-highest lot was a 53-carat internally flawless diamond, another rare find, especially given than diamond mining is not the prolific activity it once was. It sold for $3,480,000.

For final proof that rarity is the driving value factor at jewelry auctions, the next lots were Kashmir sapphires, the prized velvety blue gems that haven’t been mined in a century—including a 10.31-carat Kashmir sapphire and diamond ring that sold for $1,980,000, and a 14.51-carat sugarloaf cabochon sapphire ring that sold for $1.8 million. Natural pearls, also very rare, are fetching top dollar at auction as well. Among the top 10 at the Sotheby’s sale was a natural pearl, cultured pearl and diamond necklace selling for $552,000, along with exquisite pieces from Graff and Harry Winston.

Christie's sold the the Eden Rose, a 10.2-carat fancy intense pink diamond for $13.3 million.
Christie’s sold the the Eden Rose, a 10.2-carat fancy intense pink diamond for $13.3 million. 
This 2.28-carat vivid blue heart shaped diamond ring, surrounded by yellow and white diamonds, sold for $2,107,000 a Christie's.
This 2.28-carat vivid blue heart shaped diamond ring, surrounded by yellow and white diamonds

Phillips, which has for several years been the leading auction house when it comes to watches, also started holding live jewelry auctions this year. It got off to a good start in June with a New York sale that totaled $2.8 million. Leading the auction was a 9.81-carat emerald and diamond ring, which doubled its estimate at $165,000. A pair of diamond ear clips sold for $165,100, and a Cartier gold and diamond necklace designed as an undulating fringe sold for $146,050. The sale also included pieces from Van Cleef & Arpels, Cartier, and Bulgari and Oscar Heyman.

Leading the Phillips auction was a 9.81-carat emerald and diamond ring, which doubled its estimate at $165,000.
Leading the Phillips auction was a 9.81-carat emerald and diamond ring, which doubled its estimate.

Source: Forbes

Van Cleef & Arpels Diamond ‘Tie’ Necklace Fetches $3.6 Million

An important and rare Van Cleef & Arpels diamond “Tie” necklace smashed its estimate and blew past other impressive gems and jewels to become the top lot at Sotheby’s Magnificent Jewels auction, held Friday in New York.

The necklace, circa 1929, composed of graduated links set with variously cut diamonds with elongated tassels that partially rotate, sold for $3.6 million, triple its high estimate of $1.2 million, after a six-minute battle between seven bidders.

It was one of the few marquee items in the sale of 95 lots, a low number for a major New York auction. However, many of the items offered were highly collectible and wearable as shown by the overall results. For example, the sale achieved $30 million, near its $35 million high estimate, with 90% of lots sold and 62% of sold lots achieving prices above their high estimate. Sotheby’s said persons from 30 countries participated in the auction, placing more than 1,200 bids. In addition, seven out of the 10 most valuable jewels in the sale achieved more than $1 million. Art Deco jewels, Kashmir sapphires and white diamonds all performed well.

Quig Bruning, Sotheby’s Head of Jewels for Americas & EMEA, credits Sotheby’s new lower buying premium, set at 20%, for the strong overall results.

“We’re encouraged to see that two-thirds of jewels have sold above their high estimates since our lower buyer’s premium came into effect on May 20, confirming that a fairer fee structure is the definition of client-first, and not only encourages more buyers to participate at auction, but also reiterates that Sotheby’s is open to all.”

See more: Forbes

Flawless 53 carat Diamond Could Sell for $5m

A 53.04 carat D color, internally flawless diamond is expected to fetch up to $5m when it is sold a Sotheby’s New York.

The Type IIa pear-shaped lose stone will lead the Magnificent Jewels sale on 7 June.

A GIA report from last November describes the diamond as having very good polish, good symmetry and no fluorescence.

The diamond, which carries an estimate of $3m to $5m, will be among the first items sold under Sotheby’s new price structure (introduced on 20 May) under which buyers pay a reduced premium – down by 26m per cent on their purchases.

Another highlight of the auction, also with a $3m to $5m estimate, is a David Morris necklace of Kashmir sapphires 2.40 cts to 11.37 cts and graduated oval-shaped diamonds.

Source: IDEX

Sotheby’s Jewelry Watch Auction Sells Out in Under an Hour

All 24 items on offer at the first gender-free live auction of bejeweled and embellished vintage timepieces at Sotheby’s found buyers, with the entire group selling in less than an hour.

The top item at the sale, called Rough Diamonds, was a Patek Philippe Ref. 3290 bracelet watch, ring and necklace set, created in 1962 by Gilbert Albert, decorated with enamel and pearls. The set sparked a more than six-minute battle between seven bidders, finally selling for CHF 393,700 ($435,727), over seven times its high estimate, Sotheby’s said Friday.

In total, the April 11 auction garnered CHF 1.2 million ($1.3 million), nearly twice its upper presale price.

“Rough Diamonds was born from the desire to bring to market a concept watch sale that truly resonated with collectors,” said Josh Pullan, global head of Sotheby’s luxury division. “The results of tonight’s sale, with all 24 lots selling to such a diverse and enthusiastic group of buyers, has validated that vision. The fact that the Gilbert Albert-designed Patek Philippe — the most idiosyncratic and extravagant lot in the sale — has become the most valuable lot sold tonight proves that there is a definite appetite amongst buyers for nonconformist and boldly eccentric timepieces, presented in a differentiated context.”

Other items that performed well included two Audemars Piguet watches. The first, a Cobra Royal Khanjar from 1985, brought in CHF 165,100 ($182,724), while a car-shaped white gold, diamond and emerald-set wristwatch from 1995 fetched CHF 107,950 ($119,474). Both pieces smashed their high estimates. Meanwhile, a Patek Philippe bangle watch from 1976 more than doubled its upper price tag, going for CHF 63,500 ($70,279).

Source: Rapaport

Sotheby’s Hong Kong Watch Sale Sees Two World Records

Two timepieces set new auction records at the most recent Sotheby’s watch sale in Hong Kong, while nearly half of the lots sold above their high estimates.

A Patek Philippe Ref. 2526, the first self-winding wristwatch from collector J.B. Champion, brought in HKD 5.7 million ($729,977), within its estimated range, Sotheby’s said Monday. Meanwhile Cartier’s Paris Cloche, No. 1/1, fetched HKD 1.7 million ($210,882), more than four times its high estimate. Both set a record for the highest auction amount for the specific model, Sotheby’s noted.

In total, the April 7 Hong Kong Important Watches auction garnered HKD 126.3 million ($16.1 million). Over two-thirds of buyers were from China and the US, the auction house noted.

Meanwhile, the top lot of the auction, a Patek Philippe Ref. 2499 made in 1960, saw fierce bidding between participants in the room and on the phone. That piece, which sold within its estimated range, went for HKD 8 million ($1 million) after nearly 20 bids.

Source: Rapaport

Colored Diamonds and Jadeite to Shine at Sotheby’s Hong Kong

A ring with a rare fancy-vivid-yellowish-orange diamond is set to lead the upcoming Sotheby’s jewelry sale in Hong Kong, which will take place during its luxury week.

The auction house has not disclosed the estimate for the cushion-shaped, 7.01-carat, VS2-clarity diamond it will offer at the April 6 Magnificent Jewels event.

Along with that stone, Sotheby’s will feature several other colored diamonds in its top 10, as well as jadeite pieces. Jewels from well-known design houses, including Harry Winston, Graff, Chopard, Tiffany & Co., Bulgari, and Boucheron, will also take center stage.

Here are the rest of the top 10 jewels Sotheby’s will offer at the auction:

This unmounted oval brilliant-cut, 55.55-carat, D-flawless, type IIa diamond has a presale estimate of HKD 38 million to HKD 50 million ($4.9 million to $6.4 million).
A ring with a heart-shaped, 10.33-carat, fancy-intense-orangey-pink, VVS1-clarity diamond is estimated to fetch HKD 25.3 million to HKD 40 million ($3.2 million to $5.1 million).
Sotheby’s will sell this ring bearing a round-cornered rectangular modified brilliant-cut, 4.01-carat, fancy-intense-purplish-pink, internally flawless diamond for up to HKD 30 million ($3.8 million).
This necklace, containing 18 oval jadeite cabochons with brilliant-cut diamonds, is estimated to bring in up to HKD 28 million ($3.6 million).
A collection featuring a detachable pendant necklace, composed of seven oval jadeite cabochons as well as diamonds, in addition to a pair of earrings and a ring will be offered for HKD 18 million ($2.3 million) to HKD 28 million.
A ring by Jacques Timey for Harry Winston contains a cushion-shaped, 16.65-carat Kashmir sapphire flanked by two triangular-shaped diamonds. It carries a presale estimate of HKD 17 million to HKD 20 million
($2.2 million to $2.6 million).
This jadeite bangle is set to go under the hammer at the Hong Kong auction, where it has a price range of HKD 16.8 million to HKD 22 million
($2.1 million to $2.8 million).
A ring with a cushion-shaped, 5.07-carat, pigeon’s blood Burmese ruby surrounded by epaulette- and marquise-shaped diamonds is due to bring in between HKD 12.8 million ($1.6 million) and HKD 18 million.
Another jadeite collection, comprising a necklace set with 14 oval jadeite cabochons and brilliant-cut, pear- and marquise-shaped diamonds, together with a ring and a pair of earrings, has a price range of HKD 12 million ($1.5 million) to HKD 18 million.

Source: Rapaport

Iconic Pieces Loom Large at Sotheby’s Single-Owner Sale

Sotheby’s is set to offer over 180 iconic pieces of jewelry belonging to a single owner, featuring items such as Van Cleef & Arpels’ famous Zip necklace, a Cartier Panthère and a Bulgari Serpenti.

The event, called From the Vault: Exceptional Signed Jewels, will take place on March 7 during the company’s New York Luxury sales, it said Tuesday. The auction house curated the collection with a special focus on iconic motifs, it added.

Prices for the pieces, all signed by well-known design houses, range from $3,000 to $3 million. The top item is a matching necklace and earrings set by Asprey, comprising 50 graduated round, fancy-vivid-yellow diamonds and one round, fancy-intense-yellow diamond weighing a total of 55.26 carats, accented with white diamonds. It is estimated to bring in between $2 million and $3 million.

Here are some of the other pieces that will be offered at the auction:

This Harry Winston necklace was designed by François Tavernier as a line of round diamonds bordered by alternating pear- and marquise-shaped diamonds. The piece, which can be detached into several sections, has a presale range of $1.2 million to $1.8 million.
A Van Cleef & Arpels bracelet set with baguette, tapered baguette, square-cut and round diamonds weighing a total of 27.54 carats, and 47.63 carats of Burmese, Kashmir and Ceylon sapphires, is expected to fetch $1 million to $1.5 million at the auction.
Sotheby’s will sell this cut-cornered rectangular modified brilliant-cut, 41.02-carat, fancy-intense-yellow diamond ring for up to $1.2 million.
A Van Cleef & Arpels Bals de Légende necklace bearing cabochon emeralds and round, baguette, pear, marquise, square and oval diamonds is estimated to fetch $500,000 to $700,000.
This Zip necklace — composed of herringbone links bordered by heart motifs and accented by round diamonds — can be converted into a bracelet. The Van Cleef & Arpels piece, which comes with matching tassel ear clips, has an estimate of $400,000 to $600,000.
A Bulgari Serpenti necklace set with round diamonds and pear-shaped diamond eyes is set to go for $300,000 to $500,000.
A Cartier diamond, emerald and onyx Panthère cuff bracelet will also go up for sale. It carries a price tag of $100,000 to $150,000.

Source: Rapaport

Sotheby’s Scores over $6M at Hong Kong Jewelry Auction

A sapphire and diamond ring took the top spot at a recent jewelry sale at Sotheby’s in Hong Kong, smashing its high estimate.

The piece, which contains a cushion-shaped, 17.50-carat, royal-blue Burmese sapphire surrounded by marquise-cut diamonds, sold for HKD 2.8 million ($357,226), the auction house said last week. That figure was well above its upper presale price.

In total, the January 31 Important Jewels auction brought in HKD 48.9 million ($6.3 million).

Yellow diamonds performed well at the sale, as did jewels by well-known design houses, including Graff, Cartier, Buccellati, and Van Cleef & Arpels. Sotheby’s also sold several diamonds and both green and lavender jadeite pieces with no reserve.

Here are the other four items rounding out the top five:

This cushion-shaped, 14.51-carat, fancy-intense-yellow, VS1-clarity diamond ring by Bulgari went for HKD 2.5 million ($324,751), within its presale estimate.

 
A ring set with an oval-shaped, 7.02-carat, Mozambican ruby center stone, surrounded by oval and pear-shaped diamonds, fetched HKD 2.5 million, just under its HKD 2.6 million ($332,422) upper price.
Sotheby’s sold this Graff bracelet, featuring nine cut-cornered square or rectangular-modified, fancy-intense-yellow diamonds ranging from 1.62 to 5.21 carats and 18 yellow-tinted diamonds for HKD 2.4 million ($308,513), within its estimate.
A pair of earrings, each suspending an oval ruby — one weighing 4.26 carats and the other 4.09 carats —and brilliant-cut diamonds, garnered HKD 1.9 million ($243,563) at the sale, within its presale price range.

Source: Rapaport

133 Carat Yellow Diamond Fetches $5.5 Million At Sotheby’s Auction

A 133.03 carat Fancy Vivid Yellow diamond achieved a sale price of more than $5.5 million, becoming the largest fancy vivid yellow diamond to sell at auction.

This was the top lot at Sotheby’s December 5 Magnificent Jewels auction in New York. The unmounted cushion modified brilliant-cut gem with VS2 clarity surpassed its high estimate of $5 million.

The diamond was purchased by Diacore, a diamond manufacturer best known for crafting rare, exceptional diamonds and high-end jewelry.

The company also has a joint partnership with Sotheby’s called “Sotheby’s Diamonds,” in which they manufacture and market diamonds specifically for private sale at Sotheby’s locations in London, New York and Hong Kong.

Source: Forbes

94ct. Paraiba Tourmaline to Star in Sotheby’s Sale

Sotheby’s will offer a 93.94-carat Paraiba tourmaline at its upcoming Geneva sale, the largest “top-quality” stone of its kind ever to come to auction, the company said.

The stone, which is set into a bespoke necklace created by Adler Joailliers, will be one of the star lots in the November 8 Magnificent Jewels and Noble Jewels sale, Sotheby’s said Monday. The auction house expects it to fetch between $1.3 million and $2.5 million.

The necklace, called the Blue Lagoon, features a “waterfall” of round and marquise- and pear-shaped diamonds with a total weight of more than 76 carats, the company noted. It will be offered with the original sketch.

Hailing from Mozambique, the stone is distinguished by “an extraordinary electric blue hue,” which recalls the “crystalline waters of a tropical paradise,” Sotheby’s said. Finding Paraiba tourmalines of this size, with such strong saturation and color, is extremely difficult, the auction house added.

Adler is a family business, created in 1886 by Jacques Adler in Istanbul. His grandsons, Franklin and Carlo, opened a boutique in Geneva in 1972. Since 2015, it has been run by the next generation of Adlers — Allen, who is CEO, and his wife, Daisy, who is chief operating officer.

Source: Diamonds.net