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Sotheby's Jewels Sale Tops $16M

Auction is 79% Sold by Lot

Sep 21, 2012 9:13 AM   By Jeff Miller
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RAPAPORT... Sotheby’s New York completed its sale of important jewels, which achieved a total of $16,383,856 and was 79.3 percent sold by lot. The top lot was a 5.08-carat, VVS2 brilliant-cut fancy light pink diamond that sold for more than twice its high presale estimate at $1.4 million or $280,807 per diamonds

A 3.09-carat, VS1 pear-shape fancy intense orangy-pink diamond pendant (pictured) fetched $770,500 or $249,353 per carat and a 13.22-carat Kashmir sapphire and diamond ring sold for $578,500, with both lots selling  well above presale estimates.

Gary Schuler, the head of Sotheby’s jewelry department in New York, said,  “We saw particularly strong prices for unique color diamonds, led by the fancy light pink diamond that soared to $1,426,500 above a high estimate of $700,000.

''While many of our top 10 prices came from American trade buyers, both signed jewels and stones under 10 carats brought spirited bidding from collectors worldwide,'' he said. ''Jewels from the estate of Kitty Carlisle Hart, which we were delighted to offer, doubled their overall low estimate and were led by her beautiful Art Deco diamond sautoir that achieved $146,500. And in a continuation of a trend we have observed in recent years, natural pearls remain a strong segment of today’s market.”

Tags: auction, diamonds, Jeff Miller, jewels, sapphires, sothbey's
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