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Sotheby’s Brings In $43M at New York Sales

Indian Blue diamond ring is top seller, fetching $6.6 million.
Dec 12, 2019 5:01 AM   By Rapaport News
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RAPAPORT... Sotheby’s garnered $43.1 million from its two New York jewels auctions, led by a blue diamond ring which sold for $6.6 million.

The cushion-cut, 7.55-carat, fancy-deep-grayish-blue, type IIb, SI2-clarity Indian Blue had been estimated to fetch $6 million to $8 million at the Magnificent Jewels auction Tuesday. That sale followed the New York Fine Jewels auction, which took place Monday.

A cushion-cut, 20.16-carat, fancy-deep-brownish-pinkish-orange diamond ring beat its $1.8 million high estimate, selling for $2.8 million, an auction record for a stone of that color. A clip brooch by Verdura, featuring a round-cornered square brilliant-cut, 14.37-carat fancy-vivid-yellow diamond, accented with cabochon sapphires and round diamonds, fetched $2.1 million. That piece, designed to look like an iris, was estimated at $1.6 million to $2.4 million.

Other notable items include a pair of earclips, created in 1963 by Harry Winston, set with pear-shaped fancy-light-brown-pink diamonds weighing 12.41 carats and 11.15 carats. The pair, from the private collection of philanthropist Nenetta Burton Carter, sold for $1.6 million, double its high estimate of $800,000.

Jewelry from other private collections also fared well, including that of former silent-film star and socialite Mary Duncan Sanford. Her jewels brought in a total of $1.4 million, well over their $769,000 high estimate, and included a vintage Van Cleef & Arpels necklace. The piece contains over 50 carats of diamonds, and fetched $375,000, more than twice its high estimate of $175,000.

“We continue to see buyers vie for vintage jewels by Boucheron, Tiffany & Co., and Van Cleef & Arpels,” said Kendall Reed, head of Sotheby’s Fine Jewels sale in New York. “In addition to signed jewelry, we saw strong demand for white diamonds, particularly pear and round-shaped stones, along with sapphires and emeralds.”

Image: The 7.55-carat Indian Blue ring. (Sotheby’s)
Tags: boucheron, Harry Winston, Indian Blue, Kendall Reed, Magnificent Jewels, Mary Duncan Sanford, Nenetta Burton Carter, New York Fine Jewels, New York Jewels, Rapaport News, Sotheby’s, Tiffany & Co, Van Cleef & Arpels, Verdura
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