New York—Results were mixed at the Sotheby’s Magnificent Jewels auction held Tuesday in New York.
Some large diamonds sold for what was expected while others soared past pre-sale estimates.
Important pieces expected to be top lots failed to sell, and pieces from a contemporary label making its jewelry auction debut went for more than anticipated.
Headlining the sale was “The Indian Blue,” a Type IIb, 7.55-carat, SI2 cushion-cut fancy deep grayish- blue diamond ring with shield-cut side stones.
Sotheby’s estimated the diamond would sell for between $6 and $8 million; it ended up going for $6.6 million Tuesday.
Following the Indian Blue was a 20.16-carat cushion-cut fancy deep brownish-pinkish-orange diamond ring, which soared above its pre-sale estimate high of $1.8 million, selling for $2.8 million.
The Verdura brooch pictured above, meanwhile, fell within its pre-sale estimate of $1.6 and $2.4 million when it garnered $2.1 million. Commissioned in 1999, it features a 14.37-carat square brilliant-cut fancy vivid yellow diamond surrounded by cabochon sapphires and colorless diamonds.
The pair of fancy light brown-pink diamond and colorless diamond Harry Winston earclips from the collection of legendary Fort Worth, Texas philanthropist Nenetta Burton Carter garnered $1.6 million, selling for more than twice their highest pre-sale estimate.
Meanwhile, two top lots didn’t sell at the jewelry auction. The “Majestic Pink,” a fancy colored diamond and diamond bracelet features 204 radiant- and marquise-shaped pink and red diamonds totaling 43.34 carats in a setting by Carvin French, was estimated to sell for at least $3 million but found no takers. A diamond ring featuring a 1.38-carat cushion-cut fancy red diamond center stone was valued at $1.8 to $2.8 million but also failed to sell.
A brooch featuring portrait-cut aquamarine over an oil-painted depiction of a Koi pond and surrounded by tsavorite garnets and diamonds from the brand also went for more than its pre-sale estimate when it sold for $60,000.
The Magnificent Jewels auction was 82 percent sold by volume and totaled $37.9 million. For a full list of results, visit Sothebys.com.
From the National Jeweler