Big Pink and Orange Diamonds to Lead Geneva Auctions

The 59.6 carat "Pink Star."

If one would compare major jewelry auctions to prizefights (like I’m doing), then the large, statement diamonds would be the heavyweight contenders. The top prizes in the heavyweight division this year are extremely rare fancy colored diamonds that will be put up for auction in Geneva this week by Sotheby’s and Christie’s.

Sotheby’s on Wednesday will be offering what it calls “the most valuable diamond ever to come to auction” as part of its Magnificent Jewels sale. The Pink Star is a 59.6 carat internally flawless fancy pink vivid diamond and has a pre-sale estimate in excess of $60 million.

The diamond is graded as Type IIa, which rare for a pink diamond of this size and color. Cut over a period of two years, The Pink Star is more than twice the size of the Graff Pink—a 24.78-carat fancy intense pink diamond that established a world auction record for a diamond and any gemstone or jewel at $46.2 million, at Sotheby’s Geneva in 2010. The current record price per carat for a fancy vivid pink diamond ($2,155,332) set by a 5-carat diamond, sold in Hong Kong in January 2009.

Cut by Steinmetz Diamonds from a 132.5-carat rough, the diamond was first unveiled to the public in May 2003 as the “Steinmetz Pink.” The stone was first sold privately in 2007 and renamed The Pink Star.

In total, the Sotheby’s Magnificent Jewels sale will comprise over 370 lots, including iconic jewels, such as the “Walska Briolette Diamond” brooch with an estimate in excess of $8 million. The total sale has a pre-sale estimate of $123 million to $167 million.

The 14,82 carat "Orange"

Meanwhile, on Tuesday, not to be outdone, Christie’s will sell the largest fancy vivid orange diamond ever to appear at auction at its Magnificent Jewels sale. Weighing approximately 14.82 carats, this diamond, called simply “The Orange,” is expected to fetch between $17 million and $21 million.

Pure orange diamonds are exceptionally rare, the auction house said. It is more common to find orange diamonds with secondary colors. The orange color is the result of the presence of nitrogen during the diamond’s creation. Among the very few fancy vivid orange diamonds that were ever sold at auction, the largest was the “Pumpkin Diamond” 5.54 carats. The Orange is more than double that size. A 4.19 carat fancy vivid orange diamond sold at auction for a record price of $2.95 million in October 2011.

Other items being presented at Christie’s Magnificent Jewels auction include three jewels from the world famous collection of Bolivian tycoon Simón Itturi Patiño, with the highlight being an emerald and diamond necklace by Cartier, 1937. The ‘Property of Hélène Rochas’ will include 18 lots, with a rare diamond and colored diamond ‘Tiger’ shoulder brooch, by Boivin. The Art Deco period will be represented by HRH Princess Faiza of Egypt emerald drop and diamond necklace by Van Cleef & Arpels, 1929, and an “Orientalist” emerald and diamond sautoir by Cartier, 1926.

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

A Record $30.6M Achieved for 118-Carat White Diamond; 7.5-Carat Blue Diamond Fails To Sell

A 118.28-carat D-flawless diamond fetched $30.06 million at Sotheby’s Hong Kong Magnificent Jewels sale Monday. It is a world record price for any white diamond at auction. 

The unmounted, oval-shaped diamond is the largest white diamond ever sold at auction and the largest oval D-flawless diamond in the world as graded by the Gemological Institute of America. GIA graded the diamond, reportedly about the size of an egg, as D color, flawless clarity, with excellent polish and symmetry. The diamond was also graded as a Type IIa, making it among the most chemically pure type of diamond with exceptional optical transparency.

The diamond was cut from a 299 carat rough diamond discovered in 2011 from a mine in Southern Africa.

However, there was a disappointment for the evening as a 7.59-carat round fancy vivid blue diamond failed to sell. Known as the Premier Blue, this brilliant-cut internally flawless gem is the largest round fancy vivid blue diamond ever graded by the GIA. Sotheby’s said the round brilliant cut is rarely used in colored diamonds due to the high waste involved in the cutting process. The diamond is mounted on a platinum ring and surrounded by brilliant-cut pink diamonds together weighing approximately 1.70 carats.

The auction held at the Hong Kong Convention and Exhibition Centre took in nearly $95.5 million, making it the highest total for a sale of jewelry in Asia.

In addition to diamonds, jadeite was very popular during the sale. The top item in this category was a double-strand jadeite bead necklace that sold for more than $5.4 million.

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

Sotheby’s To Sell ‘Most Valuable Diamond Ever to be Offered at Auction’

The 59.60 carat Pink Star may fetch $60 million.

Sotheby’s Geneva will offer a 59.60-carat internally flawless vivid pink diamond at its Magnificent Jewels sale on November 13. Known as The Pink Star, the auction house says it is the most valuable diamond ever to be offered at auction. It is estimated to sell for more than $60 million. For those counting that’s more than $1 million per carat.

The oval cut gem is the largest internally flawless fancy vivid pink diamond that the Gemological Institute of America has ever graded, the auction house said.

David Bennett, chairman of Sotheby’s Jewellery Division in Europe and the Middle East and chairman of Sotheby’s Switzerland, said the diamond is one of the most important gems he has ever seen in his 35-year career.
 

“Its exceptional richness of color … combined with its extraordinary size, are characteristics that surpass those of any known pink diamond in state, royal, or private collections,” he said. “It is difficult to exaggerate the rarity of vivid pink diamonds weighing only five carats, so this 59.60 carat stone is simply off any scale, and passes, I believe, into the ranks of the earth’s greatest natural treasures.”

The diamond is also graded as Type IIa, rare for a pink diamond of this size and color. Cut over a period of two years, The Pink Star is still more than twice the size of the Graff Pink—a 24.78-carat fancy intense pink diamond that established a world auction record for a diamond and any gemstone or jewel at $46.2 million, at Sotheby’s Geneva in 2010.

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

19.51-Carat Harry Winston Diamond Ring May Fetch $1.8 Million

A Harry Winston platinum ring centered with an emerald-cut 19.51-carat diamond will be one of the top items being offered at Sotheby’s New York Important Jewels auction on September 24.

The ring, flanked by two triangle-shaped diamonds weighing 2.92 carats, has a pre-auction estimate of $1.2 - $1.8 million. It is from the family of George Rothman, the successful real estate developer and philanthropist who created the Rothman Foundation. It is the top lot among a collection of jewelry the family has put on sale that include pieces by Bulgari, David Webb and Van Cleef & Arpels.

The Harry Winston ring is one of three such rings that have high estimates of more than $1 million at the upcoming sale. The others are:

* A pear-shaped diamond weighing 15.10 carats, flanked by two smaller pear-shaped diamonds weighing approximately 2 carats will also appear in the sale with an estimate of $1.25 million - $1.75 million. The ownership is identified by the auction house as being from a New York estate.

* A 9.77-carat, cut-cornered rectangular step-cut diamond accented by small round diamonds weighing approximately 0.70 carat, and mounted on platinum. The ring, which is identified as the property of a lady from Texas, has an estimate of $800,000 to $1.2 million. 

Fancy colored diamonds have made their mark in recent years on the auction market and Sotheby’s leader in this category for the upcoming auction is a 1.08-carat pear-shaped fancy vivid blue diamond (pictured above), on a platinum mounting accented by round near colorless diamonds. This item has an estimate of $450,000 - $650,000.

The upcoming auction will also feature several pieces from the collection of Alex & Elisabeth Lewyt, featuring custom-designed and period pieces by French jewelers such as Schlumberger, Suzanne Belperron and René Boivin. Items of note from the Lewyt collection include:

* A platinum, palladium and diamond triple-band cuff-bracelet by Belperron (pictured above). It was worn by Elisabeth Lewyt on her wedding day. The bracelet has three tapered rows set with 75 old mine-cut diamonds weighing approximately 16.95 carats. It has an estimate of $40,000 to $60,000. 

* An 18k yellow gold reclining Labrador retriever brooch by René Boivin (pictured above). The torso, ears, paws and tail of the dog are set with numerous round and single-cut diamonds of near colorless, brown and yellow hues weighing approximately 28.95 carats. The collar is set with 19 buff-topped rubies. The eyes are made of two cabochon citrines and the nose and pads on the back paws are accented by a blackened gold. Its estimate is $70,000 - $90,000.

* A platinum and diamond double-clip pendant-brooch by Schlumberger, set with marquise-shaped diamonds weighing 5.22 and 5.28 carats, both E color, VS1 clarity; estimate $200,00 - $300,000.

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

Rare 7.59-Carat Round Fancy Vivid Blue Diamond to be Auctioned at Sotheby’s Hong Kong

The Premier Blue Photo credit: AFP/Getty

Sotheby’s Hong Kong is offering the Premier Blue, a 7.59-carat round fancy vivid blue diamond, as one of the top lots in its Magnificent Jewels and Jadeite Autumn Sale scheduled for October 7 at the Hong Kong Convention and Exhibition Centre. 

This brilliant-cut internally flawless gem is the largest round fancy vivid blue diamond ever graded by the Gemological Institute of America. The estimate is available upon request. However, a 6.01-carat fancy vivid blue diamond sold in 2011 at Sotheby's Hong Kong for more than $1.68 million, an auction record for the per-carat price of a fancy vivid blue diamond. The Premier Blue is expected to sell for far more, according to reports.

Sotheby’s said the round brilliant cut is rarely used in colored diamonds due to the high waste involved in the cutting process. “No significant round fancy vivid blue diamond has ever appeared at auction worldwide thus making the Premier Blue a rare and exceptional gem,” the auction house said.

The Premier Blue will be previewed throughout Asia as well as in Geneva, London, New York and Doha at before the auction in Hong Kong.

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

Jane Austen’s Ring Attracts the Attention of Kelly Clarkson, An English Museum and the British Government

A gold and turquoise ring once owned by Jane Austen and purchased by Kelly Clarkson. Photo credit: Sotheby's

In July, 2012, American Idol winner Kelly Clarkson successfully bided for a gold and turquoise ring once owned by the famed novelist Jane Austen at Sotheby’s London auction. She paid dearly for the ring, spending 152,450 pounds ($235,654), approximately five times the high estimate of approximately $45,000. The sale seemed legal and binding but then the British government swooped in, suddenly declaring it a national treasure and refusing to release the ring until the Jane Austen's House museum can raise enough money to match Clarkson’s winning bid, according to the Associated Press.

The museum at Austen's former home in Chawton, southern England, said Monday it has raised 103,200 pounds ($160,000), nearly all of it from one anonymous benefactor. It has until December to raise the remaining funds, according to the AP. Clarkson has agreed to sell the ring if the museum raises the funds. The museum did try to purchase the ring at the Sotheby’s auction but lost to the singer.

The ring’s origins are somewhat mysterious, according to reports. Some Austen fans suspect it was a gift from Tom Lefroy, an Irishman who may have been romantically involved with Austen. Austen corresponded with Lefroy during the time that she wrote her most famous novel, Pride and Prejudice. Some speculate — as dramatized in the 2007 film Becoming Jane – that Lefroy was the inspiration for Austen’s most memorable character, Mr. Darcy. However, at least one literature expert, Gabriel Heaton, believes that it may have been a gift from Austen’s brother Henry, who acted as her literary agent. The ring is found in a box from a jeweler in the City of London, where Henry worked as a banker.

Austen left the ring to her sister Cassandra and it remained in the family until the auction.

Jane Austen (1775-1817) was one of as one of the most widely read writers in English literature, as the author of several romantic novels revolving around Regency-era families of the lower English gentry. 

The British government’s heavy handling of this situation is reminiscent of this scene from the movie Pirate Radio. 

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

Chopard and Patek Modern Watches Were Top Sellers at Sotheby’s

18K white gold and diamond Chopard tourbillon watch

An 18K white gold and diamond Chopard limited edition tourbillon watch and a Patek Philippe platinum automatic minute repeating perpetual calendar tonneau both sold for $461,000 at Sotheby’s final watch and clock auction of the spring season in New York. 

Patek Philippe platinum automatic minute repeating perpetual calendar tonneau.

The Chopard piece, released circa 2007, has a dial covered with baguette-cut diamonds and a power reserve at 12 o'clock. The Patek Philippe circa 1997 watch has a retrograde date and moon-phases compilations. Sotheby’s Important Watches & Clocks auction held Monday opened and closed with these two modern complicated wristwatches.

The auction took in more than $7.1 million, besting its pre-sale high estimate of $6.5 million and selling 89.1% by lot.

Other pieces of significance that sold included a circa 1915 Cartier desk timepiece that fetched $100,000 and a prototype sports model made by Rolex in 1967 that achieved $383,000—nearly five times its high estimate. A limited edition tourbillon by A. Lange & Söhne from 2011 brought in $197,000.

Pieces made for the Chinese, Indian and South American export markets owned by inventor and businessman Robert Howard brought in approximately $1.4 million, while all ten lots from the estate of golf course designer Jaime Ortiz-Patiño sold and were led by a Patek Philippe Ref 5004R that sold for $185,000.

“We are thrilled to finish it with an auction that performed so well across the full diversity of makers and time periods represented,” said Katharine Thomas, head of Sotheby's Watches department in New York.

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

Gina Lollobrigida’s Natural Pearl Ear Pendants Breaks Elizabeth Taylor’s Auction Record, Sells for $2.4 Million

Gina Lollobrigida wearing the diamond necklace/bracelet combination, Bulgari, 1954, as a tiara and the record-breaking natural pearl and diamond pendant earrings.

Jewels belonging to movie legend Gina Lollobrigida sold at Sotheby’s Geneva Tuesday for more than $4.9 million (including buyers’ premium), smashing the high estimate of $3.2 million.

The star of evening was a pair of natural pearl and diamond pendant earrings, believed to have been owned by the House of Habsburg, which sold for nearly $2.4 million—an an auction record for a pair of natural pearl ear pendants, beating the figure set by Elizabeth Taylor’s pearl earrings in 2011. Lollobrigida wore those earrings on numerous landmark occasions in her career.

Buyers from around the world also clamored for seminal pieces from the 1950s and 1960s by Bulgari, the auction house said. Lollobrigida is donating her proceeds from the sale to benefit stem cell research. Among the highlights:

* A diamond necklace/bracelet combination, Bulgari, 1954, which realized $783,851, well above the $500,000 high estimate. The necklace was identified by Daniela Mascetti as one of Bulgari’s most important creations in her book Bulgari. Lollobrigida was seen wearing this jewel on key moments in her professional and personal life, including when she received her 1961 Golden Globe for World Film Favorite – Female.

* A diamond ring set with a cushion-shaped diamond weighing 19.03 carats, Bulgari, 1962, which brought $783,851.

* A pair of emerald and diamond earclips, Bulgari, 1964, which sold for $306,633.

* An emerald and diamond ring, Bulgari, 1964, set with a step-cut emerald weighing 16.62 carats which fetched $181,050.

View Gina Lollobrigida’s jewels in the Sotheby’s Geneva auction.

Speaking after the sale, Lollobrigida said: “Jewels are meant to give pleasure and for many years I had enormous pleasure wearing mine. Many people tried to persuade me to sell them, but for a very long time I was unwilling. What changed was seeing a little girl called Sofia suffering from a disorder, which could only be helped by stem cell treatment—treatment which she is unable to receive in Italy. Selling my jewels to help raise awareness of stem cell therapy, which can cure so many illnesses, seems to me a wonderful use to which to put them. It is my hope that the Italian parliament will approve this ground-breaking treatment, so that children and adults in Italy should have free access to it without having to travel abroad at great expense. It now gives me great pleasure to see that these jewels will create a legacy which will live on after me and continue to do good.”

Lollobrigida’s collection was the centerpiece of Sotheby’s Magnificent and Noble Jewels sale Tuesday, which saw nearly 650 lots selling for a combined total of $78.2 million. 

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

A Look at Gina Lollobrigida’s Bulgari Jewels

Natural pearl and diamond pendants, Bulgari, 1964, worn by Lollobrigida when she met Princess Margaret at The Taming of the Shrew premiere in London in 1967. Estimate: $600,000 - $1 million

Throughout her long and varied career as an actress, artist and humanitarian, one thing remained a constant in Gina Lollobrigida’s life: Her relationship with Italian luxury jewelry house, Bulgari.

19.03-ct. diamond ring, Bulgari, 1962; Estimate: $400,000 - $800,000

As previously reported, Lollobrigida is selling 23 pieces of jewelry from her Bulgari collection at Sotheby’s Geneva on May 14. Those who have followed the 85-year-old actress’ career, particularly during her height of international popularity in the 1950s and ‘60s, will recognize the items as they were all worn by her during special moments in her life.

Diamond necklace/bracelet combination, Bulgari, 1954, worn by the actress as a tiara during her 1961 Golden Globe for World Film Favorite – Female. Estimate: $300,000 - $500,000

The pictures that accompany this article are some of the highlights of the upcoming sale. Proceeds from the sale will benefit stem cell research, which she describes as a “very close cause to my heart.”

27.57-ct. emerald and diamond brooch, Bulgari, 1964; Estimate: $150,000 - $250,000.

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

Emerald and diamond pendent ear clips, Bulgari, 1964. Surmounts are detachable and may be worn with the natural pearl and diamond pendants. Estimate: $150,000 - $250,000

Emerald and diamond ring, Bulgari, 1964. Set with a step-cut emerald weighing 16.62 carats and framed by two rows of brilliant-cut diamonds. Estimate: $120,000 - $180,000

Film Star Gina Lollobrigida To Auction Her Bulgari Jewels For Charity

Gina Lollobrigida wearing the Bulgari diamond necklace and bracelet combination as a tiara & the pair of emerald and diamond earclips. The items are included in the auction at Sotheby's Geneva.

Actress and sex symbol, Gina Lollobrigida, will sell 23 jewels from her Bulgari collection at Sotheby’s Geneva Magnificent Jewels and Noble Jewels Sale on May 14. The auction will feature important Bulgari jewels from the 1950s and 1960s, worn by Lollobrigida at landmark moments in her career. Proceeds from the sale will benefit stem cell research.

Key pieces from the collection will travel to Hong Kong, London, New York and Rome before returning for exhibition in Geneva in advance of the sale.

“I have been lucky enough to be given many roles in life – as an actor, a mother, a photojournalist, an ambassador for FAO (Food and Agriculture Organization of the United Nations), and as an artist,” Lollobrigida said. “I began collecting jewels from Bulgari in the 1950s and 1960s, drawn by the wonderful craftsmanship and distinctive style of these pieces. They accompanied me on many journeys—both professional and personal—and are redolent of those times and the extraordinary people I met along the way.”

She continued, “I have decided the time is right to share them with other collectors. In so doing, I can also help a cause very close to my heart, that of stem cell research – treatment, which I believe should be freely available to every child. It is my wish that part of the proceeds from the sale will contribute to help fund an international hospital for stem cell research.”

David Bennett, Sotheby’s Switzerland and jewelry, Europe and Middle East chairman, added: “These exceptional jewels are evocative of both a woman, and an era. Not only do they reflect Gina Lollobrigida’s brilliance, but they are among the finest designs created by Bulgari in the “dolce vita” years of the 1950s and 1960s.”

Highlights from the sale include:

* Diamond necklace and bracelet combination, Bulgari, 1954, (also worn by Miss Lollobrigida as a tiara) a favorite of Lollobrigida on landmark occasions, including receiving her 1961 Golden Globe for World Film Favorite – Female (estimate, $300,000 - $500,000).

* Pair of natural pearl and diamond pendants, Bulgari, 1964, worn by Lollobrigida on numerous public occasions, including to meet Princess Margaret at The Taming of the Shrew premiere in London in 1967 (estimate, $600,000 - $1 million).

* Diamond ring set with a cushion-shaped diamond weighing 19.03 carats, Bulgari, 1962 (estimate, $400,000-800,000).

* Emerald and diamond earclips, Bulgari, 1964. Each earclip suspends a detachable pendant set to the center with a pear-shaped emerald (estimate $150,000 - $250,000).

* Emerald and diamond brooch set to the center with a step-cut emerald weighing 27.57 carats (estimate, $150,000 - $250,000).

* Emerald and diamond ring, Bulgari, 1964, set with a step-cut emerald weighing 16.62 carats, framed by two rows of brilliant-cut diamonds (estimate $120,000 - $180,000).

For her commitment to various humanitarian organizations, she was nominated first Ambassadress for the FAO in 1999 and has worked closely with UNICEF, UNESCO, Médecins Sans Frontières, Mother Theresa of Calcutta and children in Romania.

In 2007, she received the honor from the Republic of San Marino of becoming the only woman to be featured in a special edition of four postal stamps bearing her portrait – each depicting a different facet of her career – as actor, photographer, sculptor and humanitarian. In 2008, in Washington, the Italian-American Foundation NIAF awarded her the “Lifetime Achievement Award” in recognition of her artistic life.

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

Sotheby’s to Offer 75-Carat Diamond with $12 Million Price Tag

The centerpiece of Sotheby’s New York Magnificent Jewels sale on April 17 will be a 75-carat pear-shaped, D-color diamond that the auction house says it is “the most important white diamond ever to appear at auction in the Americas.” It is estimated to sell for $9 million to $12 million.

The spring auction will offer 400 lots of jewelry, gemstones and pearls with an estimated sale value of more than $35 million. Among the other offerings are the following:

* Fancy pink diamond and diamond pendant ear clips. The pear-shaped pendants weigh 5.79 and 5.68 carats. Its estimate is $3.5 million to $4.5 million

* From the Estate of Lynn Wolfson, a square emerald-cut diamond ring with a 21.46-carat, D color, Internally Flawless, type IIa diamond. Its estimate is $2.5 to $3.5 million.

Six jewels from the family of financier and railroad magnate Jay Gould acquired in the first half of the 20th Century. Among the items:
.
* From the Estate of Sarah Cantine Shrady Gould and Thence by Descent, an emerald and diamond brooch featuring a 22.48-carat, Classic Colombian emerald. Estimate $400,000 - $600,000.

* From the Estate of Florence Bacon Gould Sturgeon and Thence by Descent, an emerald and diamond ring with a 15.23-carat Classic Colombian emerald, circa 1930. Estimate $750,000 - $1 million.

Other highlights of the sale include:

* From a distinguished European collection, a carved colored stone, diamond and pearl “Tutti Frutti” Bracelet by Cartier. Estimate $300,000 - $500,000.

* Formerly from the collection of Katharine Dexter McCormick, a ruby and diamond ring featuring a 4.36-carat, classic Burmese ruby, circa 1900. Estimate $400,000 - $600,000

* From the Estate of Micheline Muselli Lerner, a diamond Rivière Necklace by Van Cleef & Arpels. Estimate $125000 - 175,000

* A diamond, onyx and emerald panther brooch by Cartier. Estimate $150,000 - $250,000

Highlights from the sale will be on view in the Hong Kong Convention & Exhibition Center April 3 – 7 before returning to New York for exhibition on April 13, alongside a selection of pieces from the upcoming Geneva auction of Magnificent Jewels & Noble Jewels.

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.

Sotheby’s 2012 Watch and Clock Auction Sales Increased 43%

Patek Philippe tonneau minute repeating wristwatch engraved with the Graves family coat-of-arms.

Sotheby’s global watch and clock auctions in 2012 saw a year-over-year growth rate of 43 percent to total $85 million in sales, the highest-ever annual total for this category at the international auction house. 

The Hong Kong sales brought in $28.3 million, well above pre-sale total estimate of $20.6 million and a 20 percent, year-over-year increase. Europe sales in Geneva and London totaled $30.3 million, while New York achieved $26.48 million—an 83 percent increase from 2011.

“With the reconstruction of the department we have seen tremendous and unprecedented growth in the company’s watch and clock auction and private sale business, with record-breaking results in Hong Kong, New York and London, and clients participating from nearly 70 countries around the world,” said Tim Bourne, Sotheby’s Worldwide Head of Watches.

In the U.S., the New York June auctions of watches from the Collection of The Late Reginald H. Fullerton, Jr. and His Grandfather Henry Graves, Jr., offered in a dedicated sale, was 100 percent sold by lot and achieved $8.3 million, almost tripling its estimate, Sotheby’s said. The auction was led by The Henry Graves, Jr. Yellow Gold Minute Repeating Wristwatch by Patek Philippe (pictured) that sold for nearly $3 million, soaring above its $800,000 high estimate to achieve the highest-ever price for a wristwatch at Sotheby’s.

In December, Sotheby’s set a new auction record for any clock and the second-highest price for any timepiece at auction when the Duc d’Orléans Breguet Sympathique sold for $6.8 million. In addition, a Patek Philippe Ref. 2512/1 wristwatch sold for $962,000, more than nine times its pre-sale low estimate.

In Hong Kong, the April auction saw world records achieved for a Patek Philippe Dufour wristwatch ($617,949), as well as Patek Philippe Ref. 5079 ($510,256). In October, a Patek Philippe Ref. 5104 wristwatch sold for $633,333, while a Patek Philippe Ref. 5002P Sky Moon Tourbillon fetched $1.35 million.

Sotheby’s watch sales in Europe were highlighted by the landmark London auction of The George Daniels Horological Collection in November which achieved a total of $13.2 million with a remarkable 98.5 percent of the 137 lots belonging to the great British horologist sold. All of the nine watches made by George Daniels saw strong demand, selling above their high estimates. The top lot of the sale was George Daniels’ Space Traveller’s Watch, which fetched more than $2.1 million—establishing not only a new record for Daniels at auction, but also a record For an English watch and for an independent watchmaker at auction.

Sotheby’s Geneva spring and autumn auctions were led by rare models of vintage and modern wristwatches, including a most probably unique example of Patek Philippe Ref. 2524/1 retailed by Tiffany & Co, which doubled pre-sale expectations by selling for $571,328 in November. A further highlight was the sale in May of a 1825 carriage clock by the celebrated watch and clockmaker, Breguet, which was bought for $452,202 by the Breguet Museum, Paris.

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

Breguet Sympathique Clock Sells for Record $6.8 Million

The Duc d’Orléans Breguet Sympathique clock set a new auction record for any clock and the second-highest price for any timepiece at auction when it sold for more than $6.8 million at Sotheby’s New York Important Watches & Clocks Auction on Tuesday.

The distinguished example of the exceptionally rare Sympathique clocks, which helped cement the fame and renown of French watchmaker Abraham-Louis Breguet, was last offered at auction in Sotheby’s 1999 when it sold for $5.7 million. This price has remained the auction record for any clock until Tuesday’s sale.

Invented by Breguet in 1795 and presented to the public for the first time at the Exposition Nationale des Produits de l’Industrie in 1798, the sympathique clock was a system consisting of a clock and a watch. The clock was designed to hold the watch in its cradle, where it was automatically adjusted and rewound. The term sympathique was chosen by Breguet to express the notion of harmony and concord.

The Important Watches & Clocks auction totaled more than $11.6 million marking the highest result for a various-owners sale of watches and clocks at Sotheby’s New York, the auction house said in a statement. In addition to the Sympathique, both vintage and modern wristwatches by Patek Philippe dominated the day’s top results, led by a rare 46 mm 18K Yellow Gold Center Seconds Wristwatch, 1955, Ref 2512/1 that achieved $962,500, more than five times its high estimate of $150,000.

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

Fourth Quarter Dampens Strong Year for Sotheby's

Sotheby's New York headquarters.

Sotheby's said Wednesday that fourth quarter net income declined 25.7 percent, year-over-year, to $71.5 million, largely due to an 11 percent decline in auction and related revenue to $274.9 million.

Auction sales fell 5 percent to $85.2 million during the period, ended Dec. 31, 2011, primarily due to a 5 percent decline in net auction sales over the period resulting from a $171 million, or 46%, decrease in single-owner sales during the quarter, as well as a significant decrease in auction commission margin.

For the year, the international auction house said it had the best financial results in its 268-year history, with the exception of its record year in 2007.

The New York-based company’s strong financial performance was driven by a $57.5 million, or 7 percent, increase in revenues attributable to growth in both auction and private sale commission revenues, the company said. Offsetting the growth in revenues was a higher level of operating expenses due in part to increased staff levels and their associated compensation costs, a higher level of direct costs of services consistent with the volume and composition of auction sales and the cost of investments in Sotheby's strategic initiatives, principally related to the growth of its business in China and enhancing its information technology and online offerings.

Full year results were favorably impacted by a tax benefit of $13.6 million, recognized in 2011 associated with the reversal of a valuation allowance against certain of Sotheby's deferred tax assets, and a pre-tax $7.6 million decrease in net interest expense. Including these factors, net income for 2011 is $171.4 million, a $10.5 million, or 7 percent.

“Sotheby's had great success last year, handling masterpieces, innovating in new markets and building trust based relationships with clients globally and our 2011 financial results reflected those efforts” said Bill Ruprecht, Sotheby’s president and CEO. “Consolidated sales in 2011 were an excellent $5.8 billion, as healthy bidding continued around the world for great works of art. Private sales, an increasingly important part of Sotheby's business, totaled a record $814.6 million, a 65 percent increase.

Ruprecht went on to say that it is continuing with its expansion in its high-growth China business.

“For the first time ever, Sotheby's consolidated sales in Asia reached $1 billion in 2011,” he said. “We have now reached the point where the three geographic engines driving our auction business—the Americas, Europe, and Asia—are contributing to our success in roughly equal proportions. This has allowed us to realize a more diversified revenue stream.”

35-Carat Beau Sancy Diamond to be Sold at Sotheby’s

The Beau Sancy is expected to fetch $2 to $4 million.  

Photo credit: AFP - Getty Images

A celebrated 35-carat diamond that has passed through European royalty for hundreds of years will be sold at auction during Sotheby’s Magnificent Jewels and Noble Jewels on May 15 in Geneva—on the second day of a two-day sale.

The international auction house says the Beau Sancy is one of the most important historic diamonds ever to come to auction. Passed down through the Royal Families of France, England, Prussia and the House of Orange, the celebrated diamond has witness of 400 years of European history. Weighing 34.98 carats, the modified pear double rose cut diamond comes to the market with an estimate price of $2 to $4 million.

“The Beau Sancy is one of the most fascinating and romantic gems ever to appear at auction and it is an immense privilege for Sotheby’s to handle the sale,” said David Bennett, chairman of Sotheby’s Jewellery Department in Europe and the Middle East and co-chairman of Sotheby’s Switzerland

Acquired by Nicolas de Harlay, Lord of Sancy (1546-1629), in Constantinople in the mid to late 1500s, the Beau Sancy is most likely to have originated from the mines in southcentral India near the city of Golconda, the source of history’s best-known diamonds, including the Hope, the Koh-i-Noor and the Regent. In 1604, the Beau Sancy was purchased by Henri IV of France and gifted to his wife, Marie de Medici. It was mounted atop the crown she wore at her coronation in 1610, as shown in a portrait by Frans II Pourbus, the Younger, now in the Louvre

Following Henri IV’s assassination by Ravaillac, the queen was exiled in disgrace and escaped to the Netherlands. Heavily in debt, her possessions were sold and the Beau Sancy was acquired by Prince Frederick Hendrick of Orange-Nassau (1584-1647). It was the most important expenditure in the state’s budget in 1641. In the same year, in an attempt to reinforce the alliances of the United Provinces of Holland with the great European powers, the diamond was used to seal the arrangement of the wedding of Frederick Hendrick’s son, Willem, later Willem II of Orange Nassau (1631-1660), to Mary Stuart, daughter of Charles I of England and Henriette-Marie of France, and grand-daughter of Marie de Medici.

After the death of her husband, Mary Stuart went to England with her jewels in order to support her brother Charles II in his fight for the throne. In 1662, the Beau Sancy was pawned to settle her debts and it was only in 1677, at the wedding of Willem III of Orange-Nassau (1650-1702) to Mary II Stuart, daughter of the King of England James II, that the diamond reentered the Treasure of the House of Orange-Nassau. In 1689, the couple ascended the throne of England and thus the Beau Sancy now joined the collection of the Queen of England. However, as the monarchs were childless at their death, the diamond went back to the House of Orange-Nassau.

In 1702, following the settlement of a dispute between the heirs to the House of Orange, Friedrich I, who had just been crowned the first King of Prussia, gave up the jewels of his legacy to obtain the Beau Sancy. The king made it the principal ornament of the new royal crown of Prussia and associated it with the first order of Prussia, the Order of the Black Eagle.

The largest gemstone within the House of Prussia’s collection, the Beau Sancy passed down to each successive generation until today. Worn by the women of the family on important royal occasions, the diamond adorned the costume of each successive bride on the day of her princely wedding, much like it had in the past. When the last German Emperor and King of Prussia fled to exile in Holland, in November 1918, the crown jewels remained at the Kaiser’s palace in Berlin. At the end of World War II, the collection was transferred to a bricked-up crypt for safe keeping in Bückeburg, where it was later found by British troops and returned to the estate of the House of Prussia.

After the war, the diamond was subsequently passed down to the eldest son of the Kaiser, Kronprinz Wilhelm (1882-1951) and his son, Prince Louis Ferdinand (1907-1994). After the death of Prince Louis Ferdinand, the diamond was inherited as part of the estate by his grandson, Georg Friedrich (1976-), Prince of Prussia and current head of the Royal House of Prussia.

The Beau Sancy has been shown publicly only four times in the last 50 years: first in 1972, alongside the Grand Sancy in Helsinki, in 1985, in Hamburg at the Schmuck aus dem Hause Hohenzollern exhibition, in 2001, in Paris again alongside the Grand Sancy at the Musée National d’Histoire Naturelle, and finally in 2004, in Munich at the Schatzhäuser Deutschands exhibition.

The Beau Sancy will be showcased in an international tour before its auction in Geneva on May 15, at the following dates and locations:

Hong Kong March 30 - April 2
New York April 14-16
Rome April 19
Paris April 24-25
London April 27-30
Zurich May 2-3
Geneva May 11-15