Bangkok Gems & Jewellery

Subscribed

subscribed

Top diamonds fail to sell at New York auction		<< BACK
Just days before one of the most anticipated jewellery sales in years, an auction of diamonds, sapphires and other gems produced middling results. While two-thirds of the 340 lots on sale at Sotheby’s found buyers, the total of $28.4 million was less than half the pre-sale estimate, largely owing to the failure of the two top lots. A rare fancy intense pink diamond ring in excess of 22 carats had been expected to fetch about $13 million, while a 33-carat “Light of Golconda” diamond was estimated to sell for $7 million. Neither of the top items found buyers but Sotheby’s said there was demand for unusual jewels in the sale. “The results for the remainder of the sale demonstrate a continued demand for pieces of quality and unique character,” said Lisa Hubbard, co-chair of Sotheby’s international jewellery department.

1) Pair of platinum and diamond pendant-earclips The pendants connected by knife-edge links set with 2 emerald-cut diamonds weighing 7.91 and 7.84 carats, surmounted by 2 emeraldcut diamonds weighing 2.12 and 2.03 carats, and the tops set with 2 emerald-cut diamonds weighing 1.10 and 1.00 carats. Lot Sold: Hammer Price with Buyer’s Premium: US$782,500 2) Platinum and diamond ring, Tiffany & Co. The pear-shaped diamond weighing 9.58 carats, flanked by tapered baguette diamonds weighing approximately .50 carat. Lot Sold: Hammer Price with Buyer’s Premium: US$746,500 3) A magnificent platinum and diamond sautoir necklace with lavalliere pendant, Cartier, New York, 1924 Designed as a series of openwork oval and bell-shaped links set with 13 old European-cut and cushion-shaped diamonds weighing approximately 37.75 carats, centring a larger cushion-shaped diamond weighing approximately 4.65 carats, supporting a lavalliere pendant set with 7 cushion-shaped and old European-cut diamonds weighing approximately 37.05 carats, together with a length extender of a later date set with 13 cushion-shaped and old European-cut diamonds weighing approximately 22.30 carats, separated into three segments, the necklace and length extender further set with smaller old mine and single-cut diamonds weighing approximately 18.60 carats. Lot Sold. Hammer Price with Buyer’s Premium: US$1,650,500 4) A magnificent platinum and diamond ring The oval diamond weighing 23.62 carats. Lot Sold: Hammer Price with Buyer’s Premium: US$1,874,500

5) 18 karat gold, platinum and diamond bracelet, Van Cleef & Arpels, New York, Circa 1940 Of bombe form composed of polished gold segments, accented by round diamonds weighing approximately 27.00 carats, signed Van Cleef & Arpels, numbered N.Y. 9134. Lot Sold: Hammer Price with Buyer’s Premium US$230,500 6) 18 karat gold, emerald and diamond necklace and earclips, Tabbah, France The necklace composed of stylized openwork links set at the front with 3 emerald-cut emeralds weighing approximately 38.00 carats, set throughout with round and baguette diamonds weighing approximately 63.00 carats, the pendant-earclips set with 2 emeraldcut emeralds weighing approximately 28.00 carats, framed and surmounted by round and baguette diamonds weighing approximately 15.75 carats, Lot Sold: Hammer Price with Buyer’s Premium: US$302,500. 7) Platinum, sapphire and diamond ring, Raymond Yard, 1939 The oval sapphire weighing 27.08 carats, flanked by hexagonal-shaped, baguette and bullet-shaped diamonds. Lot Sold: Hammer Price with Buyer’s Premium: US$722,500 8) Platinum, emerald and diamond ring The cushionshaped emerald weighing approximately 12.60 carats, flanked by halfmoon- shaped diamonds weighing .98 and .94 carat. Lot Sold: Hammer Price with Buyer’s Premium: US$746,500

9)18 karat gold, platinum, sapphire and diamond necklace, David Webb, circa 1950 The graduated necklace composed of oval bombe form links set with cushion-shaped, modified cushion-shaped, modified calf’s-head-cut and modified trapeze-shaped blue sapphires weighing approximately 300.00 carats, and cushion-shaped, modified cushion-shaped and modified trapeze-shaped yellow sapphires weighing approximately 200.00 carats, connected by x-shaped links set with round diamonds weighing approximately 6.65 carats, length 16 inches, signed Webb. With fitted and signed box. Lot Sold: Hammer Price with Buyer’s Premium: US$230,500 10) 18 karat white gold, invisibly-set ruby and diamond bracelet, Aletto Brothers The slightly articulated bracelet designed as continuous curls of ribbon, invisibly-set with calibre-cut rubies, accented at the sides with round diamonds weighing approximately 16.00 carats. Lot Sold: Hammer Price with Buyer’s Premium: US$206,500 11) 14 karat white gold and diamond ring The round diamond weighing 8.15 carats, the band set with round and baguette diamonds weighing approximately .75 carat. Lot Sold: Hammer Price with Buyer’s Premium: US$182,500 12) Pair of 18 karat gold, emerald and diamond floral clips, Van Cleef & Arpels, New York, 1955 Designed as flowers set with pear-shaped emeralds weighing approximately 45.00 carats, the stems and petals set with round and baguette diamonds weighing approximately 10.25 carats, signed Van Cleef & Arpels, numbered N.Y. 25415. Lot Sold: Hammer Price with Buyer’s Premium: US$110,500

13) Pair of platinum, ruby and diamond pendant-earclips The pendants set with cushion-shaped rubies weighing 5.03 and 5.02 carats, framed and surmounted by marquise-shaped and pear-shaped diamonds weighing 12.75 carats. Lot Sold: Hammer Price with Buyer’s Premium: US$458,500 14) Platinum and diamond ring The emerald-cut diamond weighing 20.23 carats. Lot Sold: Hammer Price with Buyer’s Premium: US$986,500 15) Platinum, conch pearl and diamond necklace Designed as a graduated double-strand composed of 135 conch pearls measuring approximately 11.6 to 4.3 mm., spaced by diamond beads measuring approximately 3.8 to 2.5 mm., completed by a modified hexagonal-shaped clasp set with hexagonal-shaped, baguette and old European-cut diamonds weighing 1.60 carats. Lot Sold: Hammer Price with Buyer’s Premium: US$1,118,500
One of the highlights of the auction was a 23.6-carat oval diamond ring which sold for $1,874,500 including commission, beating the $1.6 million high estimate. A Cartier platinum diamond necklace fetched $1.65 million, far above the $1 million high estimate, while a Kashmir sapphire and diamond ring also beat estimates when it went for just under $1.6 million. Both were bought by Asian collectors. A companion sale of men’s jewellery and accessories from the collection of San Francisco shipping executive John Traina fared far better, with all 92 lots selling for a total of $1.9 million. With Christmas just around the corner, it seems like the ideal time to hold an auction, but this year’s December Magnificent Jewels sale at Sotheby’s hit some road bumps. The sale garnered $30,404,818 against a presale estimate of $50 million and was sold 66.5 percent by lot and 45.5 percent by value. However, that is not as discouraging as it appears. Two of the lots in the sale accounted for $20 million of the presale total and both of those lots — the Light of Golconda and the 22.17-carat intense pink diamond —failed to find buyers. With that in mind the total is lower than what Sotheby’s would like to see and certainly not near recent highs that have been achieved at auction, but not as dismal as a first glance. The top lot of the day was a 23.62-carat, GVS1 oval shaped diamond ring, which sold to an Asian private collector for $1,874,500. It was followed by the storied 1924 Cartier diamond sautoir that was the property of a prominent American family active in publishing and politics. The piece also sold to an Asian private collector for $1,650,500. Diamond sales were erratic, but the prices were solid for the stones that did sell. The bright spot of the day was the Elegant John Traina single owner sale. A prominent San Francisco businessman, who was once married to author Danielle Steel, Traina was known for his sense of style and refined taste. The 92-lot collection was 100 percent sold and accounted for $1,921,755 of the sale total. It was one of the most extensive collections of men’s jewellery to come to auction and it was filled with well-designed pieces with fine quality gems. Bidding was very competitive and pushed prices up. The sale was not a typical one, with a large number of passes and unexpected items selling strongly. It does appear that the market remains strong, but highly selective.


Please subscribe to our magazine to read more Click Here to subscribe