The 11th May, 2010 in Geneva, Sotheby’s Spring Sales of Magnificent and Noble Jewels concluded, bringing a sensational total of CHF59,995,700 / $53,976,331 / €42,411,883, a figure well above pre-sale expectations (est: CHF35.9-51.1 million / $32.4-46 million).
All three sales sessions today saw lively and competitive bidding across the board for top-quality jewels at all price levels - be it important coloured stones, white diamonds, glamorous signed pieces or jewels with historic and noble provenance. Collectors and jewellery lovers from all corners of the world were out in force, bringing overall sell through rates of 88% by lot and 97% by value. In addition more than 74% of the lots sold, achieved prices in excess of their high estimate. Today’s exceptional results follow hot on the heels of the great success of the company’s Jewellery sales in Hong Kong and New York last month and bring the total of Sotheby’s worldwide sales of jewels this Spring to $147.7 million.
Important Stones:
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| Fancy intense blue diamond, toi et moi ring by Alexandre Reza |
In a sale series which saw a vast number of triumphs, the standout moment of the day came with the sale of the rare cushion-shaped fancy intense blue diamond weighing 7.64-carats and mounted as a ring. One of the most important diamonds of this colour grading and shape to appear on the market for many years, the stunning ring saw competition from at least three potential buyers before selling to an anonymous client for CHF8,930,500 / $8,034,503. This sets a new record price of $1,051,636 per for carat for a fancy intense blue diamond sold at auction.
A second blue diamond - a rare toi et moi ring by the much celebrated French jeweller, Alexandre Reza – was also the subject of a spirited bidding battle. Set with a spectacular 5.02-carat fancy vivid blue diamond and a exceptional white diamond of the same shape and weighing 5.42-carats, the immensely chic ring saw determined bidding from multiple bidders and brought a final price of CHF7,026,500 / $6,321,531 – against the pre-sale estimate of CHF4.25-7.4 million / $4-7 million and establishing an auction record price for a jewel by the French jewellery maker.
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| Emerald-cut white diamond |
The magnificent emerald-cut white diamond weighing 52.82-carats was the second highest selling lot of the day. This sold to an US dealer for CHF8,818,500 / $7,933,740 proving the strength of the market for exceptional white diamonds.
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| Burnese ruby and diamond ring, oval brilliant-cu diamond ring |
Further top prices for important stones were achieved for an important Burmese ruby and diamond ring, which brought CHF2,154,500 / $1,938,339. The striking ring, set with a 12.46-carat ruby, was estimated at CHF640,000- 840,000 / $600,000-800,000. An impressive oval brilliant-cut diamond - also set as a ring - and estimated at CHF1.4-2.1 million / $1.3-2 million sold for a final price of CHF2,098,500 / $1,887,957.
Jewels with Celebrity Provenance:
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| Emerald and diamond parure |
The elegant group of four jewels from the collection of Brazil’s ‘first lady’, Lily Marinho, saw the same success as the much larger collection of jewels that she offered for sale at Sotheby’s Geneva in May 2008 and which brought more than $11 million. The four pieces offered in today’s sale – an impressive emerald and diamond parure; a tanzanite and diamond demi-parure; a pair of brooches in the design of a fish; and a diamond bangle – were all greatly admired and brought a total of CHF1,426,000 / $1,282,929, more than double their combined pre-sale estimate of CHF369,000-589,000 / $341,500-560,300. The emerald and diamond parure was the star of the group, bringing CHF1,202,500 / $1,081,853.
Likewise, the jewellery from the collection of the Italian opera star Antonietta Stella excited a great deal of interest from collectors and the top-selling lot of the items she presented for sale was a diamond ring with a step-cut stone weighing 9.19-carats. This sold for CHF230,500 / $207,374, well above the estimate of CHF105,000-145,000 / $100,000-138,000.
Noble Jewels:
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| rivière of 28 circular-cut diamonds |
Strong results were once again seen in the dedicated sale of Noble Jewels, the fourth consecutive sale of its kind in Geneva and this further builds on the success of the last three years. The Noble Jewels sale surpassed its pre-sale high estimate bringing CHF9,112,925 / $8,198,625, against an estimate of CHF4.9-7.2 million / $4.4-6.5 million and achieved sell through rates of 93.9% by lot and 95.7% by value. The centrepiece of this year’s sale was a beautiful diamond necklace by Chiappe, designed as a graduated rivière of 28 circular-cut diamonds, with a total weight in excess of 160-carats and from the collection of an Italian noble family. This was hotly contested by a number of potential buyers before selling for a price of CHF2,322,500 / $2,089,484, against an estimate of CHF1.5-2.2 million / $1.4.2.1 million. The allure of a noble provenance was once again demonstrated .
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| Sapphire and diamond parure , group of seven diamond |
Among the other notable Noble highlights were the CHF482,500 / $434,091 paid for the sapphire and diamond parure from the collection of H.S.H. Prince Carlo della Torre e Tasso (est; CHF160,000-215,000 / 150,000- 200,000) and the sum of CHF122,500 / $110,210 achieved for a group of seven diamond jewels that came to themarket having formerly been in the collection of Mrs Fitzherbert, the secret wife of Prince Regent (later King George IV).
