Historic Pink Diamond And 25-Carat Cartier Ruby Could Each Fetch $18 Million At Sotheby’s Geneva

The Historic Pink Diamond

Sotheby’s auction of Magnificent Jewels and Noble Jewels in Geneva will likely serves as a test of the strength of the auction market for jewelry, which has had some lackluster sales recently. The May 12 sale at the Hôtel Beau-Rivage includes an historic pink diamond, an important ruby, several significant Cartier pieces and five bejeweled tiaras. 

The sale is led by two gems. The first is the 8.72-carat “Historic Pink,” which the auction house describes as an “extremely rare and highly important” Fancy Vivid Pink diamond. According to the Gemological Institute of America, it’s believed to have been part of the collection of Princess Mathilde, the niece of Napoleon Bonaparte. The stone, which has VS2 clarity, is also distinguished by its classic non-modified cushion cut, unusual in a pink diamond, Sotheby’s said. 

The pre-sale estimate is $14 to $18 million. 

The Sunrise Ruby by Cartier

The 25.59-carat “Sunrise Ruby” by Cartier is described as a “unique treasure of nature” by the Swiss Gemmological Institute. The ruby has not received any heat treatment and the color is described by that famous auction moniker for exceptional rubies, “pigeon’s blood” red: the rarest and most sought-after of hues.

Its estimate is $12 million to $18 million.

Diamond necklace by Cartier 

It is one of four jewels by Cartier from the same private collection. The other statement piece is a diamond necklace of more than 190 carats. Custom-made for the owner, it is designed as a cascade of diamonds, the front accented with a floral motif and suspending a fringe of nine pear-shaped stones. Its estimate is $6 to $10 million. 

Kashmir sapphire and diamond brooch, Cartier

The other pieces are a brooch set with a 30.23-carat Kashmir sapphire (estimate: $3.5 million - $6 million); and sapphire and diamond earrings, made with two Burmese Mogok sapphires of 15.77 and 16.90 carats (estimate: $800,000 - $1.2 million). 

Diamond Cartier tiara, 1930s 

Provenance is a constant theme of this sale and one of the most important items of Noble ownership is a collection of jewels that includes three tiaras from the Estate of Mary, Duchess of Roxburghe. They are led by a piece created by Cartier in the 1930s (estimate: $300,000 – $500,000); and intricate tiara/necklace composed of fleurs de lys and confronting scroll motifs, swing-set with a graduated row of twenty superb pear-shaped diamonds (estimate: $300,000 – $500,000); and a delicate ruby and diamond creation (estimate: $80,000 – 100,000).

Mary, Duchess of Roxburghe is the granddaughter of Rothschild heiress Hannah and British Prime Minister the Earl of Rosebery, whose wedding to the Duke of Roxburghe brought together two of Britain’s great aristocratic families, according to the auction house. 

In addition to the three tiaras from the Roxburghe Estate, the auction will offer a two other tiaras for a total of five very fine pieces in a single sale, which is extremely rare, according to the auction house.

Diamond tiara necklace, 1880s

From the Collection of the Earl of Mar and Kellie, a diamond tiara/necklace, designed in the style of a “tiare russe,” dating back to the 1880s and drawing inspiration from the Russian kokoshniks—traditional fan- shaped head ornaments inspired by the cockscomb. This tiara was worn by the 12th Countess of Mar at the coronation of King Edward VII in 1902 (estimate: $150,000 – $295,000).

The fifth tiara is one made of emeralds and diamonds dating to the early 20th century. The piece is designed as two lines of circular-cut diamonds, surmounted with scroll and fleur de lys motifs, the scrolls topped with drop-shaped emeralds (estimate: $40,000 - $60,000).

No auction is complete these days without at least one signature natural pearl necklace. In this case the jewel is composed of two graduated rows strung with 78 natural pearls ($3 million - $5 million).

There was a noted decline in the number of lots being sold along with their value during auctions in April. For example, Sotheby’s Hong Kong Magnificent Jewels & Jadeite sale saw nearly a third of its lots go unsold—unheard of in recent years. Christie’s New York Magnificent Jewels sale fared a little better with 77 percent of the items sold by (meaning nearly a quarter of the lots went unsold) and 77 percent sold by value, compared with estimates.

A large diamond at Christie’s New York in April was pulled halfway through the auction and several other items didn’t make the reserve price.

Most recently, Sotheby’s New York Magnificent Jewels sale bucked the negative trend with 80 percent of items sold by lot and nearly 85 percent sold by value with 10 jewels selling for more than $1 million. In a nod to the modern way of doing business, four of the top 10 items were sold to online bidders.

The Geneva jewelry auctions are often the most highly anticipated sales on the calendar and Sotheby’s and Christie’s are presenting highly sought after pieces in all categories. So next month will determine whether the slowdown was a temporary occurrence or here to stay. 

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100-Carat Diamond Sells For $22 Million At Sotheby’s

Sotheby’s called it the “perfect’ and “ultimate” diamond and “unlike any other before.” Now it can be called the $22 million diamond.

The 100.20-carat, D-Color, Internally Flawless, emerald-cut diamond was easily the top lot Tuesday at Sotheby’s New York Magnificent Jewels sale.

The Type IIa gem joins a group of only five other diamonds of more than 100 carats with similar attributes that have been sold at auction worldwide, the auction house said. The gem is further distinguished by its emerald cut, making it the largest perfect diamond with a classic emerald-cut ever to be offered at auction.

The gem came from a rough that weighed more than 200 carats and was mined by De Beers in southern Africa. It took more than a year to craft the diamond from the rough.

Gary Schuler, head of Sotheby’s Jewelry Department in New York, compared the diamond to “a pool of icy water.”

The sale price (which includes buyer’s premium) was within its estimate and amounts to $220,459 per carat. The buyer was not named.

The auction totaled nearly $65.1 million in which 79.9 percent was sold by lot and 84.4 percent by value. The other best-selling lots were dominated by colored diamonds and gems, particularly Kashmir sapphires. Cartier pieces were also in high demand.

The other top lots from the Magnificent Jewels sale are as follows:

* A 22.30-carat Internally Flawless oval diamond ring sold for $3.25 million ($145,740 per carat).

* The 35.02-carat Flagler Emerald, described as an important emerald-cut classic Colombian emerald and diamond pendant, sold for $2.77 million ($79,098 per carat)—well above its high estimate of $1.5 million.

* The Baron de Rothschild Necklace, described as an emerald, sapphire, lapis lazuli and diamond pendant-Necklace, designed by Charles Jacqueau for Cartier, Paris, circa 1924, sold for $2.59 million.

* A 6.24-carat, pear-shaped fancy purplish pink diamond with VVS2 clarity and Kashmir sapphire ring and sold for $2.4 million ($386,218 per carat).

* An 11.41-carat, Internally Flawless, round-cornered rectangular modified brilliant-cut fancy light pink diamond and diamond ring sold for $1.9 million.

* An 11.90-carat Kashmir sapphire and diamond ring of by Cartier, circa 1915, sold for $1.9 million ($162,185 per carat).

* Iconic emerald, ruby, diamond and enamel ‘Tutti Frutti’ Bracelet, Cartier, New York, circa 1928, sold for $1.6 million.

* 14.33-carat marquise-shaped diamond ring, D color and VVS1 clarity, sold for $1.15 million ($80,251 per carat).

* A 17-carat Kashmir sapphire and diamond brooch by Schlumberger for Tiffany & Co., circa 1960, formerly from the collection of Mrs. Paul Mellon sold for just over $1 million ($60,588 per carat).

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100-Carat ‘Perfect Diamond’ May Fetch $25 Million at Sotheby’s

A 100.20-carat D color internally flawless Type IIa stone will be the top lot of Sotheby’s Magnificent Jewels auction in New York on April 21. Its pre-sale estimate is $19 - $25 million.

The auction house is calling it the “perfect diamond,” saying that it joins a group of only five other diamonds of more than 100 carats with similar attributes that have been sold at auction worldwide. This gem is further distinguished by its emerald cut, making it the largest perfect diamond with a classic emerald-cut ever to be offered at auction.

It is a diamond “unlike any other before,” the auction house says.

The original rough weighed more than 200 carats and was mined by De Beers in southern Africa. It took more than a year to study, cut and polish the rough into the 100-carat diamond.

The diamond will be exhibited in Dubai, Los Angeles, Hong Kong, London and Doha, before returning to New York for exhibition beginning April 17.

Gary Schuler, head of Sotheby’s Jewelry Department in New York, said the diamond “is the definition of perfection. The color is whiter than white, it is free of any internal imperfections, and so transparent that I can only compare it to a pool of icy water. It is the first true emerald-cut diamond over 100 carats to be offered at auction—the most classic of cuts, quietly elegant and very contemporary.”

Lisa Hubbard, chairman of North & South America for Sotheby’s International Jewelry Division, added: “It has everything you could ever want from a diamond: the classic shape begs to be worn, while the quality puts it in an asset class of its own.”

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Christie’s, Sotheby’s Combine for $1.35 Billion in 2014 Jewelry Sales

The Zoe Diamond, 9.75-ct fancy vivid blue sold for $32.6 million at Sotheby’s

Wealthy investors, jewelry lovers and businesses continue to place their money into collectible jewelry, buying up statement diamonds, gems and pearls as well as signature jewelry collections.

The world’s largest auctions houses, Christie’s and Sotheby’s, reported record 2014 results in their jewelry departments, combining for more than $1.35 billion in total sales.

The results speak of the demand for high-quality baubles as well as the economic uncertainty and geopolitical tensions throughout the world. Jewelry seems to be one of the few places where the wealthy feel comfortable placing their money.

Christie’s year was the most impressive as the auction house reports a record total of $754.7 million in 2014, saying it is the highest annual result ever achieved for jewelry at any auction house. The total also represents an 11 percent year-over-year increase. Christie’s Geneva led the company’s jewelry sales with $304.4 million total.

The results for the year included 149 jewels that sold for more than $1 million, including seven jewels that sold for more $10 million, 24 jewels that sold above $5 million and 72 jewels that sold for more than $2 million.

The Winston Blue, 13.22-carat pear-shaped fancy vivid blue flawless diamond sold for nearly $23.8 million

Christie’s most valuable sale in 2014 was The Winston Blue, a 13.22-carat pear-shaped fancy vivid blue flawless diamond, sold at Christie’s Geneva in May for nearly $23.8 million, or nearly $1.8 million per carat. It was acquired by the luxury jewelry brand, Harry Winston.

Its other biggest sale also occurred at Christie’s Geneva—this time during the November sale. The Blue Belle of Asia, a 392.52-carat Ceylon sapphire, sold for nearly $17.3 million, a record for any sapphire ever sold at auction.

Meanwhile, Sotheby’s reports that 2014 jewelry totaled $602.5 million—the third consecutive year of record sales for the auction house. The total represents a 13.8 percent year-over-year increase.

The results for the year include 77 jewels that sold for more than $1 million, with 69 percent of all sold lots exceeding their high estimates.

Among the two largest sales for 2014 was the Zoe Diamond, a 9.75-carat fancy vivid blue diamond from the collection of Mrs. Paul Mellon, which sold for $32.6 million at Sotheby’s New York in November. The stone set world auction records for any blue diamond and for the price-per-carat for any diamond, at more than $3.3 million per carat.

The other large sale was the Graff Vivid Yellow, at 100.09 carats, one of the largest fancy vivid yellow diamonds in the world. It sold for $16.3 million at Sotheby’s Geneva in November, setting world auction records for any yellow diamond and for any jewel by Graff.

The Cartier Hutton-Mdivani Necklace sold for more than $27.4 million.

Jadeite also did well for Sotheby’s Hong Kong. Its best sale in this category for the year was the Cartier created Hutton-Mdivani Necklace, which sold in April for more than $27.4 million, setting auction records for any jadeite jewel, for any non-diamond jewel and for any Cartier jewel and the second highest auction price for any jewel in 2014. It was purchased by The Cartier Collection.

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Sotheby’s New York Watch Auction Fetches $7.2 million

A Patek Philippe Reference 658 black dial pocket watch (pictured above) was the top lot at Sotheby’s New York Important Watches auction, selling for $527,000, well above its high estimate. Made in 1937, it features a yellow gold open-faced perpetual calendar split-seconds chronograph minute repeater with moon phases and a black dial. The auction house says it is the first known reference 658 to have been produced and one of 15 made with a black dial.

The December 11 sale was Sotheby’s final watch auction of 2014. It achieved $7.2 million, with 68.5 percent sold by lot and 74.6 percent sold by value, raising the company’s 2014 sales in this category to a Sotheby’s record of $100.1 million for the year.

Familiar names in the watch world such as Patek Philippe, Vacheron Constantin and Paul Newman Daytona Rolex watches shared the center of attention with rare complicated mechanical clocks.

Other top lots include:

* A Courvoisier & Compe. no. 11359 ormolu and mahogany two tune musical automaton birdcage clock with double singing and flying birds sold for $389,000, well above its estimate. The circa 1820 clock was the top lot from the collection of Frank and Lore Metzger that totaled $753,000.

* A Patek Philippe Ref. 5959 platinum split seconds chronograph wristwatch with register sold for $257,000. Sotheby’s said the circa 2008 timepiece with its “Officer” style case, white dial and special italicized Arabic numerals, “bears many striking similarities” to the earliest-known split second chronograph wristwatch: the no. 124824, started in 1903 and completed in 1923, which the auction house sold in June for $2.9 million.

* A Black Starr & Frost and Pierre Gravoin rock crystal, mother-of-pearl, hardstone and gem-set desk timepiece, circa 1930, sold for $377,000, more than three times its high estimate.

* Five of Rolex’s “Paul Newman Daytonas” sold for a combined total of $591,000. The group was led by a stainless steel chronograph wristwatch with bracelet (Ref 6263 No 2874356) Paul Newman Daytona Panda, circa 1970, that sold for $185,000.

* A Vacheron Constantin yellow gold, enamel, and pearl-set open-faced watch sold for $233,000. Made in 1930 with an enamel scene of Le Temps et les Parques painted by Jeanne Vauthey, it is among a celebrated few Vacheron Constantin timepieces from the early 20th century with a painted enamel scene, Sotheby’s said. The image depicts the Three Fates, “who spin, measure and cut a length of yarn in an allegory for destiny.”

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Colorless Diamonds and Celebrated Collections Lead Sotheby’s Jewelry Sales

A platinum-topped gold and diamond necklace presented to Helen Hay on the occasion of her marriage to Payne Whitney in 1902 was the top lot at Sotheby’s Magnificent Jewels sale. 

The necklace (pictured above) features four diamonds ranging from F to H color, and weighing 27.48, 15.53, 13.08 and 8.91 carats respectively, the necklace sold for nearly $3.2 million. The marriage of Hay and Whitney was a society event that made headlines across the United States. All seven jewels from the estate of Helen Hay Whitney were sold for $4.8 million. 

In addition to the Helen Hay Whitney estate, collection from Estée Lauder, Evelyn H. Lauder and Grand Duchess Vladimir of Russia were among the most sought after jewels from bidders, which included a world record price for a Cartier “Tutti Frutti” bracelet

Jewels from the collections of Estée Lauder and Mrs. Evelyn H. Lauder together achieved $3.9 million, with more than 80 percent of the pieces on offer fetching prices above their high estimates.

Thirty-two jewels from the collection of Evelyn H. Lauder—sold to benefit The Breast Cancer Research Foundation—were led by a “Tutti Frutti” bracelet by Cartier, circa 1928 (pictured above), that sold for more than $2.1 million (more than double its high estimate), marking a new world auction record for any Tutti Frutti bracelet by Cartier.

Ten pieces from the Estée Lauder collection sold to benefit the Alzheimer’s Drug Discovery Foundation were led by a pair of fancy brown-yellow diamond and diamond earclips by Van Cleef & Arpels that fetched $233,000.

A pair of platinum, emerald and diamond pendant-earclips (pictured above) that originally belonged to the legendary collection of Grand Duchess Vladimir of Russia sold for more than $1 million. After being smuggled out of Russia by an English friend of the Duchess following the abdication of the Tsar in 1917, the emeralds descended to the Duchess’s daughter and granddaughter, and were acquired at auction at Sotheby’s Geneva in 1987 for Princess Gloria von Thurn und Taxis, the auction house said. 

From the collection of Marlene Dietrich—the legendary actress, singer and cabaret star—a 14k tri-color gold and lapis lazuli bracelet, Cartier circa 1940, sold for $179,000, nearly six times above its high estimate. The bracelet was a gift from longtime friend Erich Maria Remarque, author of “All Quiet on the Western Front.”

Two platinum and diamond rings were among the top four lots of the auction, showing that despite the trend toward colored diamonds, statement colorless diamonds can still bring in world-class prices. 

The first featured a 25.44-carat emerald-cut diamond of D color, VVS1 clarity and potentially Internally Flawless. It sold for $2.96 million, or $116,548 per carat (pictured above).

The second featured a 47.48- carat, round brilliant-cut diamond of K color, VVS1 clarity that sold for $1.8 million. 

Other highlights of the auction were:

* A platinum and diamond ring centered by a 3.02 emerald-cut fancy grayish blue diamond with VVS2 clarity, circa 1930, sold for $1.4 million, or $478,476 per carat, well above its high estimate.

* A platinum, fancy intense purplish pink diamond and diamond ring, 3.07 carats, SI2 clarity, sold for $1.2 million ($392,508 per carat).

* Platinum and diamond earclips by Harry Winston, 10.20 carats, G color, VVS2 clarity and 9.53 carats, G color,VS1 clarity, sold for $1.08 million ($54,992 per carat).

* Egyptian-revival platinum, diamond and colored stone bracelet, LaCloche Frères, Paris, sold for $1.5 million. 

The December 9 auction achieved more than $44.1 million in sales, with 75.8 percent sold by lot and 81.1 percent sold by value. It raised Sotheby’s worldwide jewelry sales in 2014 to $597.5 million, already surpassing the record $529.3 million the company achieved in 2013 in this category. This is without including Sotheby’s London jewelry sale held Thursday. The auction house estimates that sales for 2014 will exceed $600 million.

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Burmese Ruby and Diamond Necklace Highlights Sotheby’s Hong Kong Sale

Burmese rubies, colored diamonds and Cartier jewels led Sotheby’s Hong Kong Fine Jewels and Jadeite sale. 

The top lot was a ruby and diamond necklace with 50.57 carats of unheated “Pigeon’s Blood” Mogok Burmese rubies that sold for $805,128 (top photo). 

The necklace is set with 37 graduated oval rubies, decorated with approximately 42.70 carats of pear-shaped and brilliant-cut diamonds mounted in 18k white and yellow gold. 

Other items of note at the November 28 sale include the following: 

* A 13.88-carat fancy intense yellow diamond and white diamond ring sold for $466,667. The yellow diamond is flanked by two trapeze-shaped diamonds together weighing approximately 3 carats, mounted in platinum and 18k yellow gold.

* A Cartier “Tiger” clip-brooch sold for $451,282, more than double its high estimate of $206,352. Set with brilliant-cut yellow diamonds and diamonds together weighing approximately 9.95 carats, speckled by onyx, embellished by pear-shaped emerald-set eyes, mounted in 18k yellow gold, signed and numbered.

* A 4.79-carat unheated “Pigeon’s Blood” Mogok Burmese ruby and diamond ring by Cartier sold for $435,897. The oval ruby is flanked on each side by a half-moon shaped diamond, decorated by brilliant cut and baguette diamonds together weighing approximately 1.30 carats, mounted in platinum, signed and numbered. 

* Fancy intense yellow diamond and white diamond ear clips that sold for $312,821. Each ear clip has a cut-cornered rectangular modified brilliant-cut fancy intense yellow diamond weighing 6.30 and 6.15 carats respectively, suspended from a pear-shaped and brilliant-cut diamonds weighing a total of 4.45 carats, mounted in platinum and 18k yellow gold.

The 180-lot auction of signed pieces, colored gems and diamonds, modern and vintage pieces, and a charity session to aid Operation Smile China Medical Mission, which provides free surgery to underprivileged children and young adults with cleft lips or cleft palates in China, fetched more than $7.85 million, with 87.2 percent of the items sold by lot and 75.8 percent sold by value. 

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9.75-Carat Blue Diamond Fetches World Auction Record $32.6 Million

A 9.75-carat fancy vivid blue diamond from the collection of Mrs. Paul Mellon set two world auction records Thursday when it sold for more than $32.6 million Sotheby’s New York. 

The price, smashing its high estimate of $15 million, set a world auction record for any blue diamond; and set a world auction record for price-per-carat for any diamond, at more than $3.3 million per carat.

Seven bidders competed for 20 minutes for the pear-shaped diamond, Sotheby’s said. It ultimately sold to a Hong Kong private collector who named it “The Zoe Diamond.”

The previous auction record for any blue diamond was $24.3 million, set by the Wittelsbach Diamond at Christie’s London in December 2008. The previous per-carat auction record for any diamond was nearly $2.4 million, set by a 14.82 carat fancy vivid orange diamond at Christie’s in Geneva in November 2013.

“From the moment I saw this diamond, I knew that it would be one of the most important stones that I will ever have the privilege of presenting at auction,” said Gary Schuler, head of Sotheby’s Jewelry Department in New York. “Mrs. Mellon’s diamond absolutely deserves the place in the record books that it achieved tonight.”

The diamond was the top lot on the first day of a two-day sale of “Property from the Collection of Mrs. Paul Mellon: Jewels & Objects of Vertu.” Other jewelry pieces in the sale, which resumes today (Friday), include Verdura, Schlumberger and Givenchy, Cartier, Van Cleef & Arpels and Black Starr & Frost. 

Sotheby’s New York auctions of the Mellon Collection continue through Sunday.

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‘Graff Ruby’ Leads Esteemed Jewelry Collection For Sale at Sotheby’s

The 8.62-carat “Graff Ruby,” is the lead item in a collection of 16 jewels belonging to Dimitri Mavrommatis that is part of Sotheby’s Geneva November 12 Magnificent Jewels and Noble Jewels sale.  The cushion-shaped Burmese stone is estimated to fetch 6.9 million to nearly 9.2 million. 

The gem possesses the rare vivid red hue known as “pigeon’s blood,” according to a report from the Swiss Gemmological Institute, and is also of outstanding purity and superb brilliance.

Dimitri Mavrommatis began a lifelong interest in the fine and decorative arts in 1982 during trips to the Metropolitan Museum of Art. The 16 jewelry and gem pieces from his personal collection to be placed on auction at the Beau-Rivage Hotel is expected to bring in more than $17.6 million.

David Bennett, chairman of Sotheby’s Jewellery Division for Europe and the Middle East, said the collection “is a testament to Dimitri Mavrommatis’ discerning eye and impeccable taste.”

Another item of from the Mavrommatis collection is a 27.54-carat Kashmir sapphire (pictured above) to fetch $3 million to $6.1 million. The stone exhibits a saturated velvety blue color, combined with a very high purity, according to the auction house. “These features elevate Kashmir sapphires above all others and the appearance of such a fine example weighing over 20 carats is an extremely rare event.”

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Pink Diamond Sets Auction Record, Natural Pearls Remain in Demand

8.41-carat internally flawless pink diamond

The jewelry auction market continues to show strength as gems sparkled during sales in Hong Kong and New York. 

Sotheby’s Hong Kong said a world auction record was set for a fancy vivid pink diamond when an 8.41-carat internally flawless pink diamond sold for nearly $17.8 million at its Magnificent Jewels sale on October 7. The internally flawless fancy vivid purple-pink gem is a type IIa diamond, among the most chemically pure with exceptional optical transparency.

According to Sotheby’s, the previous world auction record for a fancy vivid pink diamond and record price per carat for a pink diamond were both achieved by a 5-carat pink diamond that sold for more than $10.7 million, or $2.15 million per carat, in Hong Kong in November 2009.

Per-carat price records were also set for a Cartier Kashmir sapphire ring that sold for $193,975 per carat and for a sapphire and diamond ring that sold for $236,404 per carat.

At Bonhams New York Fine Jewelry auction held October 8, a triple stand natural pearl, gem and diamond necklace (pictured above) fetched $185,000, over three times its high estimate. The piece is completed by a triple pavé diamond flowerhead clasp, enhanced by rubies, emeralds, and sapphires; centered by old European-cut diamonds and a fancy-cut emerald.

The top lot of the evening was a 14.51-carat round brilliant-cut diamond, flanked by tapered baguette-cut diamonds. 

In addition, a ruby and diamond bracelet designed as a graduated band of oval-cut ruby cluster links, enhanced by round brilliant-cut diamond borders, sold for $161,000; and a ruby and diamond pendant/brooch and necklace signed by M. Gerard where the largest ruby weighed 8 carats, achieved $106,250, soaring past its high estimate of $70,000.

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8.41-Carat Purple-Pink Diamond May Set Auction Record

An 8.41-carat pear-shaped internally flawless fancy vivid purple-pink diamond is being priced to set a world-auction record for price per carat. It will appear as the top lot at the Sotheby’s Hong Kong Magnificent Jewels and Jadeite Autumn Sale on October 7. 

The diamond is expected to fetch $12.8 to $15.4 million, or a high estimate of more than $1.8 million per carat, the highest per-carat pre-sale estimate for any pink diamond to date, according to the international auction house.

It is “arguably the most desirable pink diamond to appear at auction in recent years,” Sotheby’s said in a statement. Internally flawless vivid or fancy intense pink diamonds of more than 8 carats are “virtually unseen.” 

“This color is one of the most beautiful and concentrated shades of pink in diamonds that I have seen and, combined with the exceptional clarity, it is not surprising that it would command the highest per-carat pre-sale estimate for any pink diamond to date,” said Quek Chin Yeow, deputy chairman, Asia, and chairman international Jewellery, Asia.

The unmounted purple-pink diamond was cut from a 19.54-carat rough mined by De Beers, with the final cutting completed in New York. It will tour Singapore, Taipei, New York, London, Geneva and Hong Kong prior to the auction.

The current record price ever paid at auction for a diamond, or any gemstone, is the Graff Pink, a 24.76-carat, Fancy Intense pink diamond, purchased by Lawrence Graff in November 2010 for more than $46.1 million. The record price per carat for a fancy vivid pink diamond is more than $2.1 million per carat set by a 5-carat diamond, sold in Hong Kong in January 2009 for more than$10.7 million

Pink diamonds have been coveted by rulers and prized by connoisseurs since they were first discovered in the mines of India centuries ago. Many of the great gems of history are pink diamonds, including the Williamson presented to Queen Elizabeth II at her wedding, the Hortense from the Crown Jewels of France, the Darya-i-Nur from the Iranian Crown Jewels and the Agra documented as having belonged to Babur, founder of the Mogul Empire.

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Daryl Wickstrom To Lead Sotheby’s International Jewelry And Watch Divisions

Sotheby’s on Friday named longtime executive Daryl Wickstrom as international managing director of Sotheby’s Worldwide Jewelry and Watch Divisions. In this newly-created role, he will be tasked with expanding activity and growing sales in these areas, which experienced record results in recent years, the New York-based multinational company said in a statement. 

Wickstrom will work closely with David Bennett, Lisa Hubbard and Quek Chin Yeow, the company’s three Jewelry chairmen, Tim Bourne, worldwide head of Watches, and Patti Wong, chairman of Sotheby’s Diamonds, the company said. He will oversee activities in North America, Europe and Asia, as well as the company’s expanding Sotheby’s Diamonds retail business and related private sales activity.

The announcement was made by Bruno Vinciguerra, Sotheby’s chief operating officer. 

Wickstrom joined Sotheby’s in 1996 and was appointed executive VP and deputy chairman, Asia, in July 2008. He was instrumental in developing the growth strategy in Asia and particularly Sotheby’s expansion in China. During his time in this role, total sales in Asia surpassed $1 billion in 2011.

From 2002 through 2008 Wickstrom served as managing director of Sotheby’s Global Auction Division. During his tenure, he orchestrated many significant single-owner sales and helped launch of Sotheby’s Diamonds retail venture in 2005, the company said.  

In 2013, Sotheby’s saw its highest-ever annual totals for its jewelry and watch categories, with worldwide Jewelry sales achieving $529 million, and worldwide Watch sales reaching $97 million. This spring, Sotheby’s set new benchmark prices for: any jadeite jewel and any jewel by Cartier (the Hutton-Mdivani Necklace, $27.4 million); any yellow diamond and any jewel by Graff (the Graff Vivid Yellow, $16.3 million); and any ruby (29.62-Carat Oval Burmese Ruby, $7.3 million). In addition, world auction records were set this spring at Sotheby’s for several iconic models by Patek Philippe: any Ref. 5207P ($867,000); any contemporary time-only watch by the firm ($737,000); any Celestial model ($545,000); and any Ref. 5033 ($509,000).

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Record-Breaking Henry Graves ‘Supercomplication’ To Be Sold At Sotheby's

The Henry Graves Supercomplication, Patek Philippe, 1933

The watch that set a worldwide auction record 15 years ago will return to the block in November at Sotheby’s Geneva sale of Important Watches November 14. The Henry Graves “Supercomplication” has an estimate in excess of CHF 15 million ($16.8 million).

The Henry Graves Supercomplication made by Patek Philippe in 1933 is the most complicated watch ever made completely by human hand, Sotheby’s said. It is also considered to be the world’s most famous watch. It’s reappearance on the market after its record sale will coincide with Patek Philippe’s 175th anniversary celebrations. 

Sotheby’s first sold the timepiece in New York in December 1999, with an estimate of $3-5 million. It sparked an extended bidding war and sold for a record-breaking $11 million, becoming the most expensive timepiece ever sold at auction.

“The list of superlatives which can be attached to this icon of the 20th century is truly extraordinary,” Tim Bourne, Sotheby’s worldwide head of Watches, and Daryn Schnipper, chairman of Sotheby’s Watch Division, said in a joint statement. “Indisputably the ‘Holy Grail’ of watches, The Henry Graves Supercomplication combines the Renaissance ideal of the unity of beauty and craftsmanship with the apogee of science.”

In 1925, Patek Philippe was commissioned by Henry Graves, a prominent New York banker, to produce the most complicated watch in the world. The product of three years of research and five years of effort it resulted in a gold openface minute repeating chronograph clockwatch with Westminster chimes. Among its features are a perpetual calendar, moon phases, sidereal time, power reserve, and indications for time of sunset and sunrise and the night sky of New York City. With a total of 24 horological complications, The Graves watch retained the title of the world’s most complicated watch for 56 years and even then was only surpassed by technicians working with the aid of computer-assisted machines.

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Patek Philippe 1923 Officier Achieves $2.9 Million; Five Bespoke Patek Titanium Watches Fetch Millions

Patek Philippe 1923 Officier 

The Patek Philippe earliest known single-button split-seconds chronograph wristwatch sold for nearly $3 million Tuesday at Sotheby’s New York. It was part of a private collection of 12 Patek watches, including five bespoke titanium timepieces, which sold for a total of $7.1 million.

Sotheby’s described the Patek Officier chronograph as “a piece of watchmaking history.” It was started in 1903 and completed and sold on October 13, 1923, according to the auction house. The yellow gold watch is the only split-seconds chronograph by Patek Philippe with a white enamel dial. It sold at auction to a Swiss museum for $2.965 million—more than double its $1.2 million high estimate. The price matches Sotheby’s top result for any wristwatch, achieved by The Henry Graves, Jr. Yellow Gold Minute Repeating Wristwatch by Patek Philippe, which sold in 2012.

The $7.1 million price for the 12 Patek Philippe watches, which the auction house called “The Titanium Collection,” well exceeded its $4.9 million high estimate. In addition to the five titanium watches and the historic Patek split-seconds chronograph, the 12 watches placed on auction Tuesday included additional references by Patek that have remained unknown to collectors, as well as unique pieces incorporating rare materials and designs beyond titanium.

Patek Philippe Ref 5001T Sky Moon Tourbillon

The titanium collection was led by the previously-unknown Ref. 5001T Sky Moon Tourbillon that fetched more than $1.3 million. The double dialed wristwatch has 12 complications including tourbillon, perpetual calendar, retrograde date, sky chart, moon-phases, orbit display, sidereal time and minute repeating on cathedral gongs, made circa 2002. In addition to the lightweight metal, the watch is further distinguished by its basket weave motif, repeated on the bezel and the dial where the standard Sky Moon Tourbillon normally features the firm’s signature Calatrava crosses, as well as unabbreviated cardinal points on the star chart.

Other commissioned pieces in the collection include the previously unknown Platinum Ref. 5103P, which sold for $773,000 and the Flawless Officer Ref. 3928, which achieved $737,000—an auction record for a contemporary time-only watch by Patek Philippe and well above its $500,000 high estimate. The case back of the Flawless Officer is set with a 9.44 carat, D color, internally flawless diamond that provides a window to the movement.

Sotheby’s Important Watches Auction totaled $11.7 Million, the highest total for an auction of timepieces from various watch owners at Sotheby’s New York. Other highlights included:

* A gold, hardstone, enamel and gem-set desk timepiece in the form of a tortoise, circa 1928, sold for $875,000, well above its $500,000 high estimate. The dial and movement are concealed within the tortoise shell that opens.

* A white gold and diamond-set bracelet watch, Ref 40011 by Piaget carrying a total diamond weight of approximately 57 carats fetched $398,000, above its $300,000 high estimate.

* The Hublot Key of Time MB-02 and the Jaeger-LeCoultre Duometre a Spherotourbillon, each brought in $185,000.

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Bespoke Titanium Patek Philippe’s Sky Moon Tourbillon Could Fetch $1.5 Million

Patek Philippe Ref 5001T Sky Moon Tourbillon

A unique collection of watches that includes five bespoke Patek Philippe references made in titanium will be part of Sotheby’s New York Important Watches auction on June 10. The collection of vintage and modern timepieces is led by the Patek Philippe Ref 5001T Sky Moon Tourbillon, a previously undocumented reference and the only known example of Patek Philippe’s Sky Moon Tourbillon in titanium. Its estimate is $1 - $1.5 million.

The double dialed wristwatch has 12 complications including tourbillon, perpetual calendar, retrograde date, sky chart, moon-phases, orbit display, sidereal time and minute repeating on cathedral gongs, made circa 2002. In addition to the lightweight metal, the watch is further distinguished by its basket weave motif, repeated on the bezel and the dial where the standard Sky Moon Tourbillon normally features the firm’s signature Calatrava crosses, as well as unabbreviated cardinal points on the star chart.

The Patek Philippe titanium timepieces are part of a private collection of 12 watches that includes additional references by Patek Philippe that have remained unknown to collectors, as well as unique pieces incorporating rare materials and designs beyond titanium. The timepieces have a total estimate of more than $3 million.

Patek Philippe Ref 5033T, titanium automatic annual calendar
minute repeating wristwatch.

In addition to the Ref 5001T, highlights of the previously unknown titanium wristwatches by Patek Philippe include: the Ref 5033T, a titanium automatic annual calendar minute repeating wristwatch made in 2003 (estimate est. $400,000 - $600,000); and the Ref 5102T Celestial, a titanium automatic astronomical wristwatch with sky chart, phases and position of the moon and time of Meridian passage of Sirius and the moon, made in 2003 (estimate. $200 $300,000).

Until this auction, there were only four known watches in titanium made by Patek Philippe.

“When first learning about this collection, it was almost impossible to conceive of so many important yet unknown pieces from Patek Philippe,” Daryn Schnipper, chairman of Sotheby’s Watch & Clock Department, said in a statement. “The five titanium watches are an absolute revelation. This group is a testament to the influence and ultimate connoisseurship of its collector, who had the foresight to customize these references in discreet yet significant ways.”

Patek Philippe 1923 Officier

Another star of the private collection is the Patek Philippe 1923 Officier, which Sotheby’s said is one of the most important wristwatches produced by the firm. The yellow gold single button split-seconds chronograph originally sold on October 13, 1923, making it the earliest known split-seconds chronograph produced by the firm. It is the only split-seconds chronograph by Patek Philippe to feature a white enamel dial. Its estimate is $800,000 - $1.2 million.

Patek Philippe Ref 5103P platinum automatic minute repeating semi-skeletonized perpetual calendar wristwatch with retrograde date, moon phases and leap year indication.

Another previously undocumented Patek Philippe is the Ref 5103P platinum automatic minute repeating semi-skeletonized perpetual calendar wristwatch with retrograde date, moon phases and leap year indication made in 2004. The watch has bespoke engraving on its movement plates as well as a unique teardrop pattern on its side. Its estimate is $500,000 - $700,000.

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