Last week’s Important Jewels sale at Sotheby’s in New York provided further proof that the demand for JAR is stronger than ever. Arguably the most coveted jewels in the auction, the two pairs of earrings by the highly sought after designer each fetched prices well beyond their estimates, aided by the large number of bidders vying for a piece of his work.
A total of thirteen bidders pushed the sale price skyward for a pair of JAR’s fanciful earclips composed of a three-dimensional spiral of diamonds winding over a demantoid garnet pavé background. The final price for the earrings, whose presale estimate was $30,000-50,000, was a jaw-dropping $225,000. The second pair of earring by JAR, playfully textured spheres reverse-set with aquamarines with single-cut diamond accents, achieved a price of $187,500, also well above their $25,000-35,000 estimate. Both earrings ultimately went to collectors in Asia.
Overall, the February 5th sale kicked off Sotheby’s year for jewelry auctions with a respectable $9,677,501 total, led by a 5.07-carat Fancy Orangy Pink diamond pendant-necklace that sold for $520,000. Signed jewels also fared well in the sale with a number of jewels beating their presale high estimates:
- A platinum, peridot and diamond brooch, Cartier, London, circa 1930 (est. $15,000-20,000) sold for $36,250
- An 18k gold, diamond, emerald and enamel Dragon bangle-bracelet, David Webb (est. $35,000-45,000) sold for $62,500
- A platinum, 18k gold, 10.70-carat rubellite and diamond ring, Tiffany & Co. (est. $5,000-7,000) sold for $22,500
- A pair of white gold, metal, enamel and rock crystal earclips, Luz Camino (est. $800-1,200) sold for $22,500
- A platinum, gold, colored stone and diamond floral bouquet brooch, Cartier, London, circa 1930 (est. $6,000-8,000) sold for $17,500
The market for fine natural pearls remains strong as evidenced by the natural pearl and diamond ring (est. $7,000-9,000) that sold for a whopping $40,625. Additional highlights include an antique diamond and ruby snake necklace (est. $50,000-70,000) which achieved $125,000; a pâte de verre, diamond and onyx Art Deco bracelet, French (est. $15,000-20,000) that sold for $53,750; and an orange sapphire and diamond ring (est. $20,000-30,000) that fetched $75,000.
The next jewelry auction at Sotheby’s will be the Fine Jewels sale in London on March 18th.