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Van Cleef Ring Smashes Estimate at Bonhams

Blue diamond fetches $2.5 million at New York Jewels auction.
Oct 2, 2019 7:24 AM   By Rapaport News
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RAPAPORT... A blue diamond ring by Van Cleef & Arpels fetched more than double its high estimate at Bonhams, leading an auction where the designer’s jewels proved popular.

The emerald-cut, 2.17-carat, fancy-intense-blue, VVS2-clarity diamond, accented by round brilliant-cut diamonds, sold for $2.5 million, or $1.2 million per carat, beating its $1.2 million high presale estimate at last week’s New York Jewels sale.

An unmounted circular-cut, 11.11-carat, E-color diamond with VS2 clarity sold for $400,075, against an estimate of $250,000 to $450,000. A pear-shaped brilliant, 12.18-carat, H-color, VS1-clarity diamond ring also sold within its estimate, garnering $375,075 versus a valuation of $290,000 to $390,000.

Other notable pieces included a cushion modified, 24.64-carat, fancy-yellow diamond ring with SI1 clarity. The jewel, which was estimated at $270,000 to $370,000, went for $318,825.

Meanwhile, three Van Cleef pieces were highly sought after, with two breaking the top 10. A square-shaped emerald-cut, 6.09-carat, fancy-vivid-yellow, VVS2-clarity ring by the designer brought in $312,575, far exceeding its $180,000 high estimate. An oval-shaped, 21.56-carat Burmese sapphire and diamond ring fetched $306,325 against an estimate of $250,000 to $350,000, while a bidding war ensued for an 18-karat gold and ruby butterfly brooch from 1940. That piece garnered $81,325.

“This sale demonstrated an appetite for signed iconic and unique jewels,” said Brett O’Connor, Bonhams’s senior international jewelry director. “In particular, rare and colored diamonds achieved notable prices in a full auction room with bidding coming from around the globe. The sale…far [exceeded] its presale estimate.”

Overall, Bonhams sold 91% of lots by value, for a total of $6.7 million. The auction house’s next jewelry sale will take place October 16 in London.

Image: The Van Cleef & Arpels blue diamond ring. (Bonhams)
Tags: bonhams, Bonhams New York Jewels, Brett O’Connor, New York Jewels, Rapaport News, Van Cleef, Van Cleef & Arpels
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