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Records Fall at Christie's and Sotheby's Jewelry Sales in New York

Colored Diamonds Fetch High Prices at Auction

Apr 18, 2012 9:30 PM   By Rapaport News
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Christie’s New York held its sale of Magnificent Jewels on  April 17 and realized $70,726,650 with strong sell-through rates of 95 percent by lot and 97 percent by value. The top lot of the sale was The Clark Pink, a cushion-cut fancy vivid purplish-pink diamond ring of 9 carats by Dreicer & Co., circa 1910 from the Estate of Huguette M. Clark, which sold for $15,762,500, setting a new auction record for the most valuable pink diamond sold in the United States. The successful bidder was Brett Stettner of Stettner Investment Diamonds. 

Top lots from the sale that viewers will see in this video include: An important necklace by Harry Winston, an elegant diamond ring (15.08-carat, F, IF) mounted in platinum, a colored diamond necklace by Graff set with a graduated series of modified rectangular, cushion and square-cut fancy yellow and fancy light yellow diamonds, a sapphire and 31.53-carat diamond ring by Van Cleef & Arpels that set a record price, a 19.86-carat, D, VVS2 diamond ring by Cartier and a magnificent 44.09-carat, D, IF diamond ring.

Rahul Kadakia, the head of jewelry for Christie’s Americas, said, “The collection of jewels from the Estate of Huguette M. Clark sparkled in the saleroom with the $15.7 million Clark Pink becoming the most valuable pink diamond ever sold at auction in America. The entire collection, which has fascinated collectors and press worldwide, achieved a total of $20.8 million against a presale estimate of $9 million. This is the second most valuable private collection sold in the United States in the last decade, just behind the legendary jewels of Elizabeth Taylor.”

jewelry auction Sotheby’s Magnificent Jewels sale in New York on April 18 was distinguished by signed jewels from prominent estate collections, as well as top quality gemstones. This sale also provided rare pieces from designers of the 20th century such as Cartier to Belperron and Flato, as well as Art Moderne jewels. The sale achieved $43,192,152 and was 88 percent sold by lot. The total was a record for a jewelry spring sale in New York at Sotheby's.

In this video, Gary Schuler, the head of Sotheby’s jewelry department in New York, details  16.58-carat and 17.50-carat, oval cabochon emerald rings both of which are set in gold; a 3.54-carat marquise-shaped fancy blue diamond ring by Tiffany & Co.;  a 20.21-carat sugarloaf cabochon sapphire flanked by tapered baguette diamonds by Cartier; a 13.59-carat platinum diamond ring; a 6.03-carat, fancy pink cut-cornered rectangular brilliant-cut  diamond ring and a 23.02-carat fancy vivid-yellow, cushion-shaped diamond ring flanked by modified half-moon shaped diamonds.

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Tags: auction, Christie's, jewels, Rapaport News, sale, Sotheby's
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