Sotheby’s Geneva Auction Realizes $160.9 Million

(IDEX Online News) – Sotheby’s Magnificent Jewels and Noble Jewels sale, which was held in Geneva on May 12, realized a record-breaking $160.9 million. It was the highest ever recorded total for any jewelry auction, with 94 percent of lots sold.

“The Historic Pink Diamond,” a 8.72-carat Fancy Vivid Pink diamond, which has been linked to Princess Mathilde Bonaparte, niece of Napoleon I, sold for $15.9 million ($1.823 million per carat).

Highlights included a new world auction record for a ruby: the “Sunrise Ruby,” a rare 25.59-carat Burmese stone, sold for $30.3 million ($1.184 million per carat). This price also established a new record both for any ruby per carat, and for any stone by Cartier.

“[This]… record result is the reflection of the outstanding quality of the pieces in the sale across the board. The ‘Sunrise Ruby’…such an exquisite stone, truly deserved the multiple-record-breaking price,” said David Bennett, Worldwide chairman of Sotheby’s International Jewelry Division.

“The exceptional results achieved for the other Cartier jewels in the sale – including two world auction records for sapphires – and for ‘The Historic Pink Diamond’ are evidence that the market for exceptional jewels is going from strength to strength. The galleries have been brimming with collectors during our worldwide exhibitions…with truly global demand for the finest diamonds, gemstones and signed pieces of the very highest order.”

This latest sale follows another record-breaking Sotheby’s sale in New York in April when a 100.2-carat emerald-cut diamond sold for $22.1 million.