Rare Diamond Tie-Necklace Sells for $3.6m
June 10, 24
(IDEX Online) - An extremely rare 1929 diamond and platinum "tie-necklace" by Van Cleef & Arpels sold for three times its high estimate, fetching $3.6m at Sotheby's New York.
It was described as coming from a distinguished American collection and was a highlight of the Magnificent Jewels auction. It carried an estimate of $800,000 to $1.2m, but fetched the highest price of the auction, narrowly beating a loose, pear-shaped 53.04-ct diamond (D / IF) which sold for $3.48m (estimate $3m to $5m).
The tie-necklace boasted a novel and elaborate design, with a long pendant or tassel, was worn at the front of a dress, like a cravat, or draped over one shoulder.
The three largest diamonds weigh approximately 8.15-cts, 8.05-cts and 7.40-cts (approximately I-K color, SI-I clarity) and the accenting diamonds, weighing a total of approximately 125.55-cts, are approximately G-I color, VS-I clarity.
The lavish nature of tie-necklaces was such that only a handful of examples were ever produced. It was a short-lived fashion, with the last example being made in 1935.
Pic courtesy Sotheby's.