News

Advanced Search

Diamond Necklace Leads $38M Sotheby’s Auction

Jun 10, 2021 5:18 AM   By Rapaport News
Comment Comment Email Email Print Print Facebook Facebook Twitter Twitter Share Share


RAPAPORT...
A diamond necklace by designer Andrew Clunn smashed its estimate at Sotheby’s on Wednesday, selling for $4.1 million at the company’s New York auction.

The piece, set with 28 graduated, oval-shaped diamonds weighing more than 168 carats combined, achieved a price well above its $3 million high valuation at the June 9 Magnificent Jewels sale, Sotheby’s said. This established a new record for the designer at auction.

The necklace was part of a private collection of six jewels from the same anonymous seller. Three other pieces from the group also surpassed their presale valuations, including a Colombian emerald and diamond necklace by Harry Winston, which fetched $2.8 million. A 13.02-carat Burmese ruby ring by designer Carvin French went for $2.5 million against a $2 million upper estimate, while an emerald-cut, 23.59-carat, D-color, internally flawless diamond ring sold for $3 million. All six pieces sold, together garnering $15.4 million of the $37.5 million auction total.

Another highlight was the Sienna Star, a cut-cornered square step-cut, 73.11-carat, fancy-vivid-yellow, VS2-clarity diamond ring by designer Glenn Spiro, which beat its $3 million high estimate. The $3.4 million achieved was a record auction price for jewelry by Spiro, Sotheby’s noted.

Meanwhile, a cushion-cut, 25.29-carat Kashmir sapphire and diamond ring by Bulgari fetched $2.9 million, and a modified square brilliant-cut, 3.75-carat, fancy-intense-pink, VVS1-clarity diamond ring sold for $2 million, both within estimates.

The Magnificent Jewels sale featured advance online bidding and a live auction. Some 74% of bidders participated online, with 84% of the available lots receiving advance bids, Sotheby’s added. In total, the auction house sold 93% of items on offer. Of those, 65% exceeded their high estimates.

Image: The Andrew Clunn diamond necklace. (Sotheby’s)
Tags: Andrew Clunn, Bulgari, Carvin French, Glenn Spiro, Harry Winston, Jewelry, Magnificent Jewels, new york, Rapaport News, Sienna Star, Sotheby’s
Similar Articles
GIA report 140Indian Police Bust Counterfeit Diamond Scam
Sep 14, 2021
Police in India have uncovered a fraud scheme involving lower-quality diamonds bearing counterfeit Gemological Institute of America
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First
© Copyright 1978-2021 by Rapaport USA Inc. All rights reserved. Index®, RapNet®, Rapaport®, PriceGrid™, Diamonds.Net™, and JNS®; are registered TradeMarks.
While the information presented is from sources we believe reliable, we do not guarantee the accuracy or validity of any information presented by Rapaport or the views expressed by users of our internet service.