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.

Please join me on the Jewelry News Network Facebook Page, on Twitter @JewelryNewsNet and on the Forbes website.

Christie’s Magnificent Jewels Sale Fetches $66.6 Million

89.23-carat, pear-shaped D-color VVS1 diamond sold for nearly $11.1 million.

Christie’s New York ended the auction's house's fine jewelry sale season in the Americas with its Magnificent Jewels sale Wednesday that fetched more than $66.6 million (including premiums), producing a final tally in 2014 of approximately $188 million for the Americas. Worldwide jewelry sales amounted to about $740 million, although a complete sales report will be released by the auction house in January 2015.

The top lot of the New York sale was an 89.23-carat, pear-shaped D-color VVS1 diamond (top photo) that sold for nearly $11.1 million (including premium). The diamond, mounted in a platinum setting, sold at $124,000 per carat. 

Other sales of note included a pair of pear-shaped fancy light yellow diamond ear pendants of 52.88 and 51.46 carats (pictured above) that sold for more than $5.4 million, double its presale estimate; and a 5.25-carat Burmese ruby ring by Harry Winston that fetched $1.65 million, more than triple its low estimate.

Other highlights of the sale include the following:

* A colored diamond suite of 593.61 carats, by Jahan that sold for $4.6 million (the necklace is pictured above).

A 21.30-carat, oval-cut fancy light pink Golconda diamond that sold for $4.25 million, or $200,000 per carat.

* A 32.32-carat, oval-cut D-color VVS1 Potentially Internally Flawless diamond by Bulgari sold for more than $4 million, or $126,000 per carat.

* A 32.72-carat, rectangular-cut D-color VS1 diamond sold for $2.4 million, or $74,000 per carat.

* A 1.42-carat, oval-cut fancy red VS2 diamond sold for $2.16 million or more than $1.5 million per carat.

* A 14.28-carat, marquise-cut fancy brownish pink Internally Flawless diamond sold for more than $2 million, or $143,000 per carat.

* A 5.70-carat, rectangular-cut fancy blue VS1 diamond sold for more than $2 million, or $360,000 per carat.

* A single-strand natural pearl and diamond necklace measuring from 13.10 to 8.00 mm sold for $1.8 million.

Please join me on the Jewelry News Network Facebook Page, on Twitter @JewelryNewsNet and on the Forbes website.

Sotheby’s Hits a Record-Setting $460.5 Million for 2012 Jewelry Sales

Beau Sancy diamond, one of the most important royal diamonds ever to come to auction, was one the Sotheby's biggest sales for 2012, fetching $9.7 million.

Sotheby’s marked its highest-ever total for a year of jewelry sales in 2012, achieving $460.5 million. Statement diamonds and private jewelry collections fetched the strongest results for the year. Auction locations throughout the world posted strong results.

Among the 2012 highlights:

* Sotheby’s Geneva set a new world auction record for any various-owner jewelry sale in May at $108.4 million.

* Across its worldwide salesrooms, Sotheby’s jewelry auctions sold an average of 84 percent by lot.

* 72 lots sold for more than $1 million, with six of those lots selling above $5 million.

* Sotheby’s saw its highest-ever total for a day of jewelry sales in the Americas, when its December auctions in New York reached $64.8 million

* Sotheby’s annual total of $114.5 million in Hong Kong marked the company’s second-biggest year of jewelry and jadeite sales in Asia.

* Prominent private collections fueled strong sale results, including jewels owned by Brooke Astor, Estée Lauder, Evelyn H. Lauder, Mrs. Charles Wrightsman, Suzanne Belperron and Michael Wellby.

* Two rare “white glove” auctions—“Jewels from the Personal Collection of Suzanne Belperron” in Geneva in May, and “The Jewellery Collection of the Late Michael Wellby” in London in December—sold 100 percent by lot.

Among the individual sale highlights:

* A 10.48-carat fancy deep blue diamond (pictured left) sold for more than $10.8 million—establishing a new world record price per carat for any deep blue diamond at auction ($1.03 million per carat) and a world record price for any briolette diamond at auction. The diamond was purchased by Laurence Graff.

The Beau Sancy, the property of the royal house of Prussia, sold for $9.7 million. The 34.98 carat modified pear double rose cut diamond—with its 400 years of royal history—was one of the most important royal diamonds ever to come to auction. 

* A fancy intense 6.54-carat flawless pink diamond and diamond ring by Oscar Heyman & Brothers from the Collection of Evelyn H. Lauder (left), sold for $8.6 million to benefit The Breast Cancer Research Foundation. It was the top lot in a December sale from the collections of Estée Lauder and Evelyn H. Lauder that benefitted the foundation founded by Evelyn Lauder. The collections together sold for more than $22. 2 million, well above its overall high estimate of $18 million.

* An 8.01-carat square emerald-cut fancy vivid blue diamond (left) set on a diamond ring sold for $12.7 million—the second-highest price per carat for any fancy vivid blue diamond at auction.

Please join me on the Jewelry News Network Facebook Page, on Twitter @JewelryNewsNet and on the Forbes Web site.

JAR Diamond Ring, 6-Carat Burmese Ruby and Jade Necklace at Christie’s Hong Kong Auction

JAR three-diamond ring. Photo Credit: CHRISTIE'S IMAGES LTD. 2012

The upcoming Christie’s Hong Kong Magnificent Jewels sale is turning out to be something special in the quality and quantity of the items for sale. As previously reported, the May 29 sale at the Hong Kong Convention & Exhibition Centre, will have the largest round fancy intense pink diamond to ever appear at auction and a 11.85-carat D VVS1 potentially flawless round brilliant-cut diamond—both with Harry Winston pedigree. But there’s more.

The 1:30 p.m. sale, in the Woods Room of the convention hall, will include a three-diamond ring from JAR, a 6-carat, pigeon’s blood Burma ruby and diamond ring, and being Hong Kong, a superb jadeite bead necklace. The auction will also include natural pearls, Burmese sapphires, Colombian emeralds, rare period pieces, and selection of signed contemporary jewels.

The ring from JAR is set with three diamonds. They are a 10.67-carat D color, internally flawless, oval-shaped diamond at its center, flanked by two D color, internally flawless diamonds of 6.07 and 6.04 carats. The estimate is $2.5 million – $3.5 million. Perhaps the world’s most influential jewelry designer, Joel Arthur Rosenthal, along with his Swiss business partner, Pierre Jeannet, founded JAR in 1977. It is housed discreetly in an apartment boutique on Place Vendôme in Paris, only accepting clients by appointment. The one-of-a-kind and often made-to-order JAR creations are sought after by clients around the world and their appearance on the auction market marks an important event for collectors.

Photo Credit: CHRISTIE'S IMAGES LTD. 2012

Also among the highlights of the auction is a 6.04-carat Burmese ruby and diamond ring by Etcetera (pictured above) with an estimate of $2.5 million – $3.8 million. This no heat cushion-shaped stone possesses the most desirable “pigeon’s blood red” color and an extraordinary degree of transparency. Burmese rubies over 5 carats, particular those gems that have not undergone any thermal enhancement are extremely rare.

Photo Credit: CHRISTIE'S IMAGES LTD. 2012

Another item that will attract the attention of bidders is a jadeite bead necklace (pictured above) with an estimate of $3.2 million - $4.5 million. “Evenly and strongly saturated, each of the jadeite beads featured in this necklace exhibits the optimal combination of color, translucency and texture,” Christie’s says. “The beads display a vivid emerald green color with a desirable tone that is neither too dark nor light. Their fine texture and excellent glass-like translucency only bolsters the rareness of such high-quality material, resulting in one of the most anticipated jewels offered at auction this year.”

Giant Natural Pearl Sells for $254,500 at Christie’s Dubai

A baroque drop-shaped natural pearl weighing 239.7 grains (59.92 carats) sold for $254,500 at Christie’s Dubai sale of Important Jewels on Wednesday. The pearl, set on a diamond foliate surmount with a spectacle-set diamond chain 42 cm. long, is the largest saltwater pearl ever recorded, according to the international auction house.

It was once part of the collection of Valda Virginia Vaughn Scott, the daughter of an English diplomat and a member of the Alessi family. Her grandfather and great-grandfather served in the Royal Malta Regiment and the Malta Crown Advocate, and they were in turn descended from the Maltese nobleman, the Marquis di Taflia.

The pearl’s provenance along with its size speaks to its value, said David Warren, International Director of Christie’s Jewellery department and Head of Jewellery Middle East.

“Natural pearls of this size are rarely seen on the jewelry market and when offered they attract international interest,” he said. “The buyer is from the region, a traditional hot spot of the finest natural pearl enthusiasts. To date this is the largest natural pearl we have offered in Dubai.”

The auction of diamonds, gemstones, natural pearls, contemporary and signed jewelry, held at the Jumeirah Emirates Towers Hotel, took in more than $3.9 million.

A diamond and colored diamond jewelry suite fetched $542,500, the highest sales of the event. In addition to the quality of the materials and design, this jewelry suite is distinguished by the way it coverts from a dual necklace to a tiara with ear clips.

The front of the necklace, designed as a detachable swag, has five graduated diamond flowerheads, three flowerheads mounted with a brilliant-cut fancy intense yellow diamond of 3.57, 3.11 and 3 cts. each, surrounded by a diamond cluster center to the similarly-set diamond petals. These are alternated by two similarly-set diamond flowerheads, each mounted with a brilliant-cut diamond weighing 2.02 and 2.01 cts. to the marquise-cut diamond petals, interspersed by connecting links of pear-shaped fancy vivid and fancy intense diamonds of yellow and orange hues and diamonds of foliate motif. The back of the necklace accented by brilliant-cut yellow diamond spacers, converts to form a tiara; with ear clips en suite composed of two brilliant-cut fancy intense yellow diamonds weighing 3.52 and 3.49 cts. each, with diamond-set leather fitted cases.

The suite is accompanied by 27 Gemological Institute of America reports stating that quality and characteristics of the various diamonds.

A ring centered by a 25.01-ct. fancy brownish greenish yellow diamond flanked by two shield-shaped diamonds weighing a total of 2.40 cts. was sold for $410,500, well-above its pre-auction high estimate of 350,000.

A diamond jewelry suite consisting of necklace, ring and earrings all with a heart-shape theme sold for $266,500—above its high estimate of $260,000. 

The suite is composed of a detachable pendant mounted with two graduated heart-shaped diamond collets weighing 5.77 and 4.01 cts. each to the similarly-set graduated heart-shaped diamond neck chain; Matching ear pendants, each suspending a heart-shaped diamond drop weighing 3.49 and 3.42 carats to the diamond surmount weighing 2.19 and 2.11 cts. each; Ring mounted with a heart-shaped diamond weighing 2 carats to the tapered baguette-cut diamond shoulders with plain hoop.

It is accompanied by seven reports from the Gemological Institute of America the Antwerp Diamond High Council.

Spectacular Results for Sotheby’s ‘Magnificent Jewels’ Sale

This 30.52-ct. emerald-cut diamond sold for more than $3.38 million.

Sotheby's New York on Thursday achieved more than $39.3 million in its “Magnificent Jewels” sale, representing the highest-ever total for a spring auction of jewelry at the Sotheby’s headquarters, and marking it the highest total for any jewelry sale in New York thus far this season. The auction of diamonds, colored stones and designer jewelry beat the pre-sale high estimate of $35.6 million. More than 84 items were sold by lot with 93 percent sold by value.

Leading the way for this sale were five fancy colored diamonds, one white diamond and an emerald, all exceeding the million-dollar mark with four items smashing top pre-sale estimates.

“Collectors are willing to pay a premium for diamonds with charm, and that was a hallmark of today’s sale,” said Gary Schuler, Sotheby’s director of Jewelry in New York. “Whether they feature old-world cuts or magnificent and unique colors, the opportunity to compete for these stones is exactly why buyers come to auction.”

The top item at the sale was a 30.52-ct. emerald-cut diamond (top photo) with D color, VVSI clarity, and excellent polish and symmetry that sold for more than $3.3 million, including buyers’ premium.

This was followed by a 3.18-ct. internally flawless marquise-shaped fancy vivid blue diamond ring that fetched more than $3.2 million. The diamond is set within a contemporary openwork diamond mounting designed as a flower.

The international auction house said competition was especially fierce for a “Distinguished Family Collection” that included romantic diamonds and Cartier designs from the firm’s creative peak that brought in more than $7.8 million, more than double its high estimate.

“Today’s results reflect the continued appetite for well-design jewels, from period pieces by Cartier to contemporary designs by JAR and Taffin,” said Lisa Hubbard, Sotheby’s chairman, North & South America, International Jewelry Division. “Nowhere was that more evident that in the spectacular prices achieved by the Distinguished Family Collection, which featured diamonds evocative of the Belle Époque era, as well as signed pieced by two of the best designers of the period: Van Cleef & Arpels and Cartier.”

A platinum and diamond pendant from the family collection, circa 1915 set with a D color, VS2 clarity, type IIa pear-shaped diamond of 20.74 carats was purchased for $2.15 million, nearly doubling its pre-auction high estimate of $1.2 million.

From the same collection, Sotheby’s said at least 10 bidders fought for a diamond Jabot Pin, circa 1920, with a Cartier and Tiffany & Co. pedigree. It features a pear-shaped D color, type IIa diamond of 15.31 cts. and VVS2 clarity before. It eventually achieved $1.98 million, more than double the pre-sale high estimate of $800,000.

A 3.64-ct. cushion-shaped fancy vivid pink diamond with VVS1 clarity sold for $1.87 million. The diamond is surrounded with small round diamonds and mounted on 18k white gold.

Comfortably nestled in among all the diamonds is a platinum, emerald and diamond ring by Harry Winston that sold for $1.87 million, more than double the pre-sale low estimate of $800,000. The property of a private collector, the 16.93-ct. square Columbian emerald is flanked by tapered baguette diamonds. It comes with a signed box and a copy of proof of purchase from Harry Winston, dated May 23, 1980.

Rounding out the top seven items was a fancy vivid yellow diamond ring designed by Jean Schlumberger for Tiffany & Co. in 1972 with a whimsical “bee” motif mounting. The item sparked a bidding war in the morning session, leading to a $1.08 million result that was more than twice the low estimate. The ring is set with a 11.13-ct. cushion shaped diamond of fancy vivid yellow color and VS2 clarity. It came from a private collection.

Jewelry and Coin Auction Saturday at Weschler's in D.C.

Art Nouveau 18k yellow-gold, platinum, diamond, Plique-à-jour and Cameo Bangle Bracelet, Masriera Y Carreras ($3,000-$5,000)

Weschler's Auctioneers and Appraisers will hold its annual spring auction of Jewelry, Coins & Watches on Saturday, April 2, in their Washington, D.C. gallery. The offerings will span the Art Deco, Art Nouveau, Edwardian, Victorian and Modern periods, plus a selection of U.S. gold coins and lady’s and men’s watches will be on the auction block.

10-ct. emerald-cut solitaire diamond ring, set in platinum ($40,000-$60,000)

Highlighting the jewelry offerings is an almost 10-ct. emerald-cut solitaire diamond ring, set in platinum, which is anticipated to fetch $40,000-$60,000; an Art Deco platinum, diamond and black onyx brooch ($10,000-$15,000); an Art Nouveau tested 18k yellow-gold, platinum, diamond, plique-à-jour and cameo bangle bracelet by Masriera y Carreras ($3,000-$5,000); and a Van Cleef & Arpels platinum and diamond bow-knot brooch, together with a letter of authenticity, which carries a $5,000-$7,000 pre-sale estimate. Other offerings include an Art Deco 14k yellow-gold, white-gold, platinum, diamond and synthetic blue sapphire mesh evening bag and change purse ($5,000-$7,000) and an Art Deco 14k yellow-gold cigarette case by Cartier holds, with a $3,000-$4,000 pre-sale estimate.

Men’s 18k yellow-gold manual watch, Patek Philippe ($2,000-$4,000)

A selection of U.S. gold coins will feature two U.S. Double-Eagle twenty-dollar gold coins, dating 1876S and 1889S, each carrying a $1,200-$1,500 pre-sale estimate and a Sesquicentennial two-and-one-half-dollar commemorative gold coin, dated 1926, is expected to bring $400-$600.

Showcasing the watch offerings are a lady’s platinum and diamond 17-jewel manual-wind cocktail wristwatch by Hamilton ($1,500-$2,000); an Omega gentleman's stainless steel manual-wind wristwatch, Speedmaster, Swiss ($1,000-$1,500); and a men’s 18k yellow-gold manual-wind wristwatch, Patek Philippe, Swiss, holds a pre-sale estimate of $2,000-$4,000.

For more information on Weschler’s April 2nd auction of Jewelry, Coins & Watches, contact John Weschler at (202) 628-1281. The items may be viewed online at www.weschlers.com or at www.artfact.com. The gallery is located at 909 E Street, NW, Washington, D.C.