Sotheby's sale of Magnificent & Noble Jewels raises $40.46mn
18 May '07
4 min read
The entire Noble section of the sale fared extremely well tonight, with only a single lot failing to sell, proving the market's positive reaction to Sotheby's innovative marketing of jewels with aristocratic provenance, for which a separate, beautiful catalogue was produced.
In addition to the Donnersmarck Diamonds, the highest price achieved in the section was for a superb diamond necklace from the collection of an Italian Princely Family, which sold for CHF966,400 ($790,583), nearly double its pre-sale low estimate of CHF525,000. The next Noble sale is already planned for 2008 in Geneva.
The result for the important diamond pendant cross from the collection of the Marchesi Gropallo Rocca Saporiti was a further highlight. The mid-19th century Latin cross of five old-mine diamonds suspended from an early 20th century seed pearl chain had a pre-sale estimate of CHF250,000-375,000 and was sold for CHF809,600 ($662,309), more than three times its low estimate. Thanks to the Noble provenance and quality of the jewels, the majority of lots soared well above their pre-sale estimates.
In the Magnificent section of the sale, another piece from the Estate of Elly and Jock Elliott, an important ruby and diamond ring, set with a cushion-shaped ruby weighing 11.64 carats, set within a cluster of brilliant-cut diamonds, and mounted in platinum and yellow gold, and was sold for CHF 899,200 ($735,609), against a pre-sale estimate of CHF375,000-500,000.
Exceptional diamonds were extremely popular, particularly an important pendant necklace/ring, weighing 24.57 carats and signed M. Gerard, which sold for CHF 2,512,000 ($2,054,992) against a pre-sale estimate of CHF 2,125,000-2,750,000. A diamond ring weighing 16.26 carats, also signed M. Gerard, fetched CHF 1,560,000 ($1,276,189) against a pre-sale estimate of CHF 1,250,000-1,875,000.
Another diamond ring, set with an oval diamond weighing 16.11 carats, sold well above expectation for CHF742,400 ($607,335), more than doubling its pre-sale high estimate of CHF310,000. Meanwhile a superb two row necklace of natural pearls with a diamond clasp signed by Cartier and dating from circa 1960 performed well above expectations, selling for CHF1,448,000 ($1,184,565) against a pre-sale estimate of CHF250,000-500,000.
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