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Sotheby’s New York Jewels Sale Tops $10M

Feb 10, 2012 2:20 AM   By Dilipp S Nag
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RAPAPORT... Sotheby’s New York sale of important jewels generated $10,258,501 and was 84.2 percent sold by lot and 88.1 percent sold by value. This was the highest total for a February auction of jewelry at Sotheby’s New York, exceeding the record of $8.9 million set in 2011, the auction house noted.

''We are very pleased with the results of Sotheby’s first jewelry auction of 2012, and the strong indications that the market has given for the coming year,'' said Lisa Hubbard, co-chairman of Sotheby’s International Jewelry department.

Rounding out the top three lots, a 5-carat, VS1,  heart-shaped, fancy orangy-pink diamond pendant necklace  achieved $632,500, or $126,500 per carat. A 17.73-carat, J, VS1, modified cushion-shaped diamond ring sold for $446,500 or $25,183 per carat. A 7.22-carat, G, internally flawless, emerald-cut diamond ring sold for $362,500.  Art Nouveau pieces by René Lalique and Georges Fouquet demonstrated a strong demand for unique designs, with all six selling for a combined $749,000, which was well above the high estimate of $435,000.

Given this record February sale in New York, Sotheby’s stated that it is looking forward to the auction of Magnificent Jewels in April.
Tags: auction, diamond, Dilipp S Nag, Important Jewels, new york, Sotheby’s
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