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Christie’s Garners $5M at Paris Auction

Sapphire and diamond ring by Verdura is top-selling jewelry piece.
Jul 9, 2020 9:35 AM   By Rapaport News
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RAPAPORT... Christie’s brought in $5.2 million from its Fine Jewels sale in Paris, with several pieces smashing their presale estimates.

A ring by designer Verdura, featuring a rectangular cut-cornered, 5.57-carat Kashmir sapphire and rectangular cut-cornered, H-color, VVS1-clarity diamond weighing 5.53 carats, fetched EUR 274,000 ($310,418), the highest price for a jewelry item. Christie’s sold a total of 79% of the lots on offer at the sale Wednesday, it said.

Meanwhile, a diamond and ruby desk clock by Van Cleef & Arpels, which was part of Jacqueline Kennedy Onassis’s personal collection, sold for EUR 310,000 ($351,203), nearly eight times its low estimate, following a five-person bidding battle.

A Cartier ring set with an old-cut, 14.37-carat, Y-Z color diamond with VS2 clarity went for EUR 175,000 ($198,256), approaching its EUR 180,000 ($203,920) high estimate, while a Van Cleef & Arpels emerald and diamond necklace garnered EUR 81,250 ($92,044), double its presale estimate.

“[The results] prove that collectors are still eager to acquire beautiful pieces of jewelry,” said Violaine d’Astorg and Mafalda Chenu, specialists at Christie’s.

Buyers came from 30 different countries, with 39% of sales being made over the internet, while 43% were purchased by phone, Christie’s noted.

Image: The sapphire and diamond Verdura ring. (Christie’s Images Limited 2020)
Tags: Cartier, Christie’s, Fine jewels, Hong Kong Magnificent Jewels, Jacqueline Kennedy Onassis, Rapaport News, Van Cleef & Arpels, Verdura
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