Sotheby's

It’s A Kashmir-acle! Sotheby’s New York Magnificent Jewels Sale Results

Sotheby's Results

Sotheby’s New York Magnificent Jewels sale took place this past week, achieving an overall total of $44,313,000. With 81.8 percent sold by lot at 87 percent sold by value, the sale continued the positive momentum for the spring magnificent jewels auctions.  The star lot of the sale was also it’s only record-breaking jewel, an exceptional Kashmir sapphire and diamond ring that sold for $5,093,000, just a hair over its $5 million high estimate. The 28.18 carat Kashmir sapphire set a new auction record price per carat for any sapphire at $180,731 per carat.

Kashmir Sapphire at Sotheby's

Gary Schuler, Head of Sotheby’s Jewelry Department in New York, commented: “It was a privilege to offer the remarkable Kashmir sapphire that set a new world auction record price per carat in today’s sale, with proceeds to benefit a charitable foundation. With its exceptional quality and deep color, I knew as soon as I saw it that the stone had the potential to reach historic heights.”

9132 Lot 207 Orangy Pink Diamond

However, the gem that fetched the highest sale price at $6,101,000, again just a wee bit over its high estimate of $6 million, was a 15.23-carat Fancy Intense Orangy Pink diamond and diamond ring.

9132 Lot 182 The El Dorado Emerald

The third highest earning lot was the El Dorado Emerald, an emerald-cut Colombian emerald weighing 36.53 carats that fetched a total of $2,165,000 (est. $1.8 to $2.2 million).

9132 lot 439 Platinum and Diamond Ring, Harry Winston

Eydie Gorme’s Harry Winston diamond ring that sold at Sotheby’s on April 29th, 2014

Nearly all the stunning jewels from the estate of American entertainment icon Eydie Gorme sold and together they fetched $2.2 million. Jewels from her collection were led by a 15.44-carat pear-shaped diamond ring that sold for $677,000 and a 17.40-carat platinum and diamond ring by Harry Winston that fetched $569,000, both achieving sale prices well above their respective estimates.

2014-04-28-19132JewelsfromtheEstateofEydieGorme

More of Eydie Gorme’s jewels: the Harry Winston 17.40-carat diamond ring fetched $569,000, a 7.51-carat marquise-cut diamond ring sold for $653,000 and a diamond rivière necklace (est. $250,000-350,000) that did not sell.

A few items that didn’t sell include a 13.36-carat Burmese sapphire, demantoid garnet and diamond ring (est. $250,000-$350,000), a Cartier dual-tiger bangle bracelet in colored diamonds, diamond, onyx and emerald (est. $600,000-$800,000), a fine platinum and diamond bracelet with 39 round diamonds weighing 58.55 carats (est. $850,000-$1,000,000) and a silver-topped gold, peridot and diamond necklace circa 1870 (est. $250,000-$350,000).

2014-04-28-1CartierBangleBracelet-thumb

This Cartier Tiger bangle bracelet set with yellow and white diamonds, emeralds and onyx did not sell also.

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8 Comments

  • Reply
    Dsst
    May 3, 2014 at 8:37 am

    Any thoughts or comments in WHY some of the pieces did not sell?

  • Reply
    Robin
    May 3, 2014 at 11:44 am

    I was wondering the same thing as the poster above since I followed the results of the auction too. Almost 20% not selling seems like a high number, especially surprised about the Cartier tiger bracelet.

  • Reply
    Mary Max
    May 3, 2014 at 5:20 pm

    Why is this Kashmir sapphire more valuable than than the larger Columbian emerald? (I’m sorry if this is a “Jewelry 101” question.)

  • Reply
    gabrielle Choo
    May 6, 2014 at 11:52 pm

    gabrielle Choo …. LOVES BIG Jewelry !!!!!!!!
    Great post !!!!!

  • Reply
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