Sotheby's Brings in $46.5m from Magnificent Jewels Auction
November 13, 23
(IDEX Online) - Sotheby's Geneva brought in an above-estimate $46.5m from its Magnificent Jewels auction, but withdrew one of its star attractions - a 94-carat Paraiba tourmaline - shortly before the event.
Biggest highlight of the 158-lot auction was the Love Stone (pictured), a 103.62-carat fancy intense yellow VS2 cushion modified brilliant-cut diamond that sold for $2.48m.
But the Blue Lagoon tourmaline from Mozambique, with a pre-sale estimate of $1.44m to $2.44m, was withdrawn without explanation.
Other notable sales included a 20.52-carat Type IIa diamond (D / IF) which sold for $1.94m and a pair of Moussaieff diamond pendant earrings weighing 11.05 and 11.02 carats (D / VS1) which sold for $1.08m. A pair of fancy intense blue and fancy deep blue diamond earrings, sold for $1.05m.
The overall auction total of $46.5m was 10 per cent above the pre-sale low estimate of $42.1m.
Catharine Becket, Head of Magnificent Jewels, Geneva, said the results "reaffirmed the strength at the top end of the market".
She said lots ranged from a collection of one-of-a-kind creations by Van Cleef & Arpels and Cartier that was 100 per cent sold, to rare colored diamonds and a fancy intense green diamond ring.
"For those with an eye for design, it was clear that high-impact jewels from the 1980s in particular, are very much in the air du temps, with Italian firms Bulgari and Marina B grabbing the spotlight," she added.