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Sotheby's NY Magnificent Jewels Auction Garners $61M
Dec 12, 2013 9:21 AM
By Amber Michelle
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RAPAPORT... To say that bidding was aggressive at Sotheby's magnificent jewels sale in Manhattan on December 11 would be an understatement. Many lots had multiple buyers interested and persistent bidding drove prices way up. The sale tallied up $60,550,813, the highest total to ever be achieved for a jewelry sale at Sotheby's New York. It was sold 82.1 percent by lot and 83.2 percent by value.
The top lot of the day was a 61.35-carat Colombian emerald and diamond ring that sold for $4,645,000 against an estimate of $1 million to $1.5 million. There was fierce bidding, which lasted several minutes, before the ring finally sold to an anonymous buyer.
Colored gemstones fared well at this sale overall as did diamonds. But the composition of the sale was more about historic signed jewelry that highlighted a collection of Egyptian Revival pieces made by Cartier in the 1920s. Those five pieces alone accounted for $2.3 million of the sale total and bidding on each of those pieces was avid. Sotheby's worldwide jewelry sales in 2013 have totaled $600 million, the highest annual total in company history. This number does not include the London sale in progress on December 12.
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Tags:
Amber Michell, Amber Michelle, auction, Jewelry, new york, Sotheby's
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