RAPAPORT... Sotheby’s New York annual spring auction of Magnificent Jewels on April 17 will offer 400 lots and a combined presale estimate in excess of $35 million. The centerpiece of this sale is an exceptional 74.79-carat, D, VVS1, potentially flawless, type IIa, pear-shaped diamond with a presale estimate of $9 million to $12 million.
Lisa Hubbard, the chairman of North & South America at Sotheby’s International jewelry division, said, “This truly exceptional stone exemplifies the strength of the white diamond market over the last decade. It was acquired by the present owner in 2001 for $4.3 million and today we have estimated it conservatively at $120,000 per carat. The stone has universal appeal and we anticipate that it will draw attention from both the diamond industry and discerning private collectors alike.”
Hubbard added that the upcoming auction includes a number of fresh-to-the-market pieces, such as rare colored stones from the Gould family and iconic styles including Cartier’s Tutti Frutti bracelet and panther brooch.
Highlights from the sale will be on view at the Hong Kong Convention & Exhibition Center from April 3 to 7 before returning to New York for exhibition on April 13, alongside a selection of pieces from the upcoming Geneva auction of Magnificent Jewels & Noble Jewels.
One of the highlights, a magnificent pair (5.79 carats and 5.68 carats) of pink diamond earclips, was first sold Sotheby's in 1987 and this lot returns with a presale esimtate of $3.5 million to $4.5 million. Sotheby's stated that these earclips are distinguished by their classic pear-shaped diamond pendants, an exquisite pair of pink diamonds that are particularly rare today as they were cut prior to the modified cuts being introduced to the market. Another highlight comes from the estate of Lynn Wolfson, a 21.46 carat, D, internally flawless, type IIa, emerald-cut diamond ring with a presale estimate of $2.5 million to $3.5 million.
Sotheby's will also auction six jewels from the Gould family collection, many pieces of which were acquired in the first half of the 20th century, including a 22.48 carat emerald and diamond brooch, a 15.23 carat emerald and diamond ring and a 31.34 carat sapphire and diamond ring.