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.
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.”
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.
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).
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.
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).