Interview: Jean Ghika

How would you describe 2017 for Bonhams’ jewelry sales across the different centers?
The global jewelry market at auction grew this year, albeit at a slower pace than the previous year. In a nutshell, the market is very receptive to colored diamonds, exceptional colored gemstones and signed period jewelry. Bonhams in the US, led by Susan Abeles, had a particularly strong year, with growth of 25% compared to 2016, and Bonhams in the UK continues to be the market leader. We have achieved this for seven of the past nine years.

What was the most extraordinary jewel you sold this year?
In September, a fancy intense blue diamond, which had been held in a private collection for nearly 30 years, sold for $3.6 million at Bonhams’ Fine Jewellery sale in London. The pear-shaped diamond, which weighed 4.03 carats, became the subject of a fierce bidding frenzy before it finally went under the hammer, selling to Graff Diamonds for $853,203 per carat. It achieved a strong hammer price, demonstrating that discerning collectors will always seek out the best examples when it comes to fine gemstones.

Have you seen some strong trends emerging?
Artist jewelry continues to be in demand and on an upward trajectory. We were delighted to have a white-glove sale for the collection of jewelry designed by Andrew Grima, which we sold in September in London. Buyers from 20 countries competed for lots, and those who were successful lived in Asia, Europe and the US.
   We are also seeing a growing appetite for fine-quality colored gemstones, not just ruby, sapphire and emerald. For example, there is a noticeable interest in spinels, with many collectors recognizing their value and wanting to buy the best examples. Interestingly, we recently sold a 5.30-carat Burmese red spinel in our London Fine Jewellery sale in April for $86,989, against an estimate of $20,074 to $26,766.

Which lots that came to Bonhams this year turned out to be surprise big sellers?
In Hong Kong, we sold a diamond and colored-diamond ring by Stephen Webster for $458,010 against its pre-sale estimate of $191,904 to $255,872. This 10.03-carat, E-color, VS2, brilliant-cut diamond romped home with multiple bidders from all over the world.
   In the US, we were honored to sell jewelry from the estate of the late novelist Jackie Collins and also to be invited to sell a wonderful diamond rivière formerly owned by Zsa Zsa Gabor, which successfully went under the hammer for $1,272,500.
   Bonhams New York in December also saw frenzied bidding when it auctioned a natural pearl and diamond drop pendant, estimated at $30,000 to $50,000 and eventually selling for $1,452,500.

What kinds of initiatives did you undertake to make fine jewelry auctions different this year?
Last January, we launched an integrated global Makers and Eras campaign to help people understand the value of their jewelry. We’ve found that many people do not realize how valuable their jewelry is because the hallmarks, signatures or initials of its creators are unnoticed or unrecognized. This was a great success, and we are planning on doing something similar at a global level this month as part of our January Jewels campaign.

Who is Jean Ghika?

Considered one of the world’s leading jewelry experts, Jean Ghika has been working at Bonhams for 25 years. She was appointed director of jewelry for the UK and Europe in 2007, and this month takes on the role of global head of jewelry, overseeing sales in Bonhams’ global offices in London, New York, Hong Kong and Los Angeles.

Image: Jean Ghika, jewelry expert

Article from the Rapaport Magazine - January 2018. To subscribe click here.