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Van Cleef & Arpels Ring Tops Christie’s NY Sale
Apr 27, 2017 3:57 AM
By Rapaport News
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RAPAPORT... Christie’s New York garnered $35.2 million from its Magnificent Jewels sale at Rockefeller Center Wednesday, with a Van Cleef & Arpels diamond ring ending the day as the top lot. The auction was 90% sold by lot and 85% by value, Sotheby's reported.
The ring (pictured) — with a rectangular-cut, 22.03-carat, D-color, internally flawless, type IIa diamond center stone flanked by two triangle-shaped diamonds — sold for $2.6 million, which was within its pre-sale estimated range, Christie’s reported.
“Our goal was to align the contents of the April auction with what is currently in demand and provide estimates that fit well into the context of today’s market prices," said Tom Burstein, Christie's head of US jewelry. "This approach led to a very strong sell-through resulting from competitive bidding on diamonds, colored stones and signed jewelry, thereby demonstrating strengths in the most vital areas of the jewelry market.”
A number of important pieces slated to lead the sale were not listed on Christie’s website among the pieces that sold. One of those was a baguette-cut, 5.26-carat, fancy vivid purplish-pink, I1-clarity diamond that was expected to fetch between $2.8 million and $3.5 million. Similarly, a Cartier ring designed as a pave-set diamond panther with a cushion-cut, 10.63-carat ruby was absent from the sold pieces, despite its $2.3 million-to-$2.8 million estimate.
Other big-ticket items that did sell included an oval-cut, 8.64-carat ruby ring flanked by shield-shaped diamonds, which sold for $1.99 million — well above its pre-sale upper estimate of $800,000. A rectangular modified brilliant-cut, 3.02-carat, fancy intense pink diamond ring went for $1.9 million, or $638,245 per carat.
Christie’s next jewelry sale will take place in Geneva on May 17, featuring a 92.15-carat diamond pendant estimated at up to $20 million.
* Picture from www.christies.com
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Tags:
Cartier, Christie's, diamonds, Jewelry, jewels, Magnificent Jewels, new york, Rapaport News, Rockefeller Center, Van Cleef & Arpels
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