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Sotheby’s NY Jewelry Sale Includes Two Remarkable Diamonds

'Light of Golconda' and a rare, 33.03-carat, fancy intense pink diamond ring will highlight the sale.
Nov 1, 2011 9:14 AM   By Jeff Miller
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RAPAPORT... Sotheby’s New York will auction ''The Light of Golconda'' and a rare fancy intense pink diamond ring among other highlights at its upcoming sale of Magnificent Jewels on December 7. The Golconda diamond ring, with an estimated value of $7 million, is a 33.03-carat, D, IF,  type IIa old mine cushion-shaped diamond. The pink diamond ring is a cut-cornered square modified brilliant-cut diamond of 22.17 carats, VS2 clarity, type IIa and an estimate in the region of $13 million. The entire sale is valued at $50 million and will  travel to Geneva, Los Angeles and Hong Kong before returning to Sotheby’s York Avenue galleries for public exhibition beginning December 3.  diamond ring sotheby's

''This December’s Magnificent Jewels sale will cap off an exceptional year for jewelry at Sotheby’s New York,'' said Lisa Hubbard, the chairman of North & South America at Sotheby’s International jewelry division. ''Each of our jewelry auctions this year has brought our strongest-ever result in its respective month, and we look forward to offering some amazing collecting opportunities in December – from the once-in-a-lifetime Light of Golconda diamond to an extensive selection of Art Deco designs, signed jewels and colored gemstones.''

The superior qualities of The Light of Golconda diamond evoke the legendary Golconda mines of India, famous for producing diamonds with distinctive chemical and physical properties that give them an exceptional transparency. The shape and antique cutting style of the old mine cushion diamond  indicate that it was fashioned by hand likely in the 17th or 18th century, which is unique in a market dominated by stones cut with technological precision in the 20th century. This exceptional stone is reminiscent of some of the most iconic Golconda diamonds that have ever appeared at auction, such as the Arcots, the Indore Pears and the Idol’s Eye.

Only two dozen diamonds of pure pink color, weighing over 10 carats, have ever appeared at auction, placing this offer in company of other noteworthy stones including The Graff Pink, which became the most expensive diamond sold at $46.2 million at Sotheby’s Geneva in 2010. Pink diamonds of significant size have historically been held in many state and royal collections, including those of England, France, Iran, Holland and Turkey.

Sotheby's will feature many one-of-a-kind  Art Deco designs from  Cartier, including two fabulous bracelets: An aquamarine and diamond bracelet by Cartier London, circa 1930,  and a diamond, emerald, enamel and onyx bracelet by Mauboussin France, circa 1925.

Gary Schuler, the director of jewelry for Sotheby's New York, said, ''Every season we hope to offer a compelling selection of really rare, connoisseur-caliber stones and the December sale will not disappoint. Collectors of very fine colored stones will find a gem Kashmir sapphire that comes from a family collection, and one of the most brilliant untreated Burma rubies I’ve ever seen. While we do have two spectacular diamonds that will likely garner significant attention, the range of top- quality white diamond rings in very wearable sizes is one of the strongest aspects of our upcoming sale.''

One such piece, is a sapphire and diamond ring, set with a cushion-shaped Kashmir sapphire weighing 16.40 carats, which comes from a distinguished family collection and has an estimated value of $1 million to $1.5 million.  Kashmir sapphires are treasured for their intense blue color, accompanied by a soft, velvety luster. The color holds up under both natural and artificial light.  Also leading the group is a magnificent platinum and diamond ring, set with an oval diamond weighing 23.62 carats, G, VS1, with excellent polish and symmetry and estimated at $1.2 million to $1.6 million.

''The Burma Rose'' is a magnificent ruby and diamond ring, with an oval Burmese ruby weighing 10.37 carats at its center and an estimated value of $1.5 million and $3 million. Sotheby's determined that the scarcity of gem-quality rubies of this significant size is responsible for their coveted status among collectors. The Burma Rose is exceptionally brilliant, with a beautiful rose-red hue, an attractive shape, and elegant proportions. According to its Gübelin report, the stone has no indications of heating, and it comes from the Mogok Valley – the main source of gem-quality rubies in Upper Burma.

Sotheby’s will also offer a number of classic gold jewelry designs by Van Cleef & Arpels and jewels from the personal property  of opera stars Lily Pons and Risë Stevens and actress Norma Shearer. The Magnificent Jewels sale will be preceded by a single-owner sale of men’s accessories collected by the late John Traina. ''The Elegant John Traina – A Portrait in Style'' sale will feature jeweled dress sets and cufflinks, cigarette cases and objets d’art from the personal collection of the shipping executive, vintner, noted collector, author and a mainstay of San Francisco society, legendary for his great style and warm personality. 


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Tags: diamonds, Jeff Miller, jewels, pink, rubies, sale, Sotheby's
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