Elizabeth Taylor Auction Fetches Nearly $116 Million

Christie's employees receiving bids by phones.

NEW YORK - By any measure the first night of the Collection of Elizabeth Taylor auction on Tuesday at Christie’s New York was, as the auction houses often say, exceptional. The auction of some of Elizabeth Taylor’s most precious jewels took in nearly $116 million, a world record for a private collection of jewels.

All 80 lots offered were sold and estimates were shattered then crushed throughout the auction. To the best of my knowledge only two items sold within auction estimates. The rest of the lots made the estimates look like afterthoughts as a jammed room full of bidders competed for items with telephone buyers from around the world.

The auction broke six other world records, including the price achieved for a pearl jewel, the per carat price for a colorless diamond, the price for an Indian jewel, and a ruby per carat.

View the jewels of the auction by following this link.

The big winner of the night was the “La Peregrina,” the 16th Century pearl on a necklace designed by Cartier for Taylor, sold for $11.8 million, setting the world record for a pearl jewel. The pre-auction estimate was $2 million to $3 million. Applause and nervous laughter came from the bidders as the price of the diamond hit the $10 million mark. It was the only 12th lot sold on a day that already started incredibly strong.

La Peregrina upstaged what was expected to be the top lot for the evening, The Elizabeth Taylor Diamond. The 33.19-carat Asscher-cut D color potentially flawless diamond set on a ring that Taylor wore nearly everyday, sold for $8.8 million, well above its $2.5 million to $3.5 million estimate.

Less than halfway into the auction it was estimated in the press area that the $30 million pre-auction estimate for the evening was topped. It was a marathon night where rapid, high-speed bidding was offset by long pauses as prices reached levels that few could have imagined. The auction was led by two of Christie’s jewelry experts, beginning with Francois Curiel, Christie's Asia president and longtime head of Christie’s jewelry department who came in from his post in Hong Kong; followed by Rahul Kadakia, head of Christie’s jewelry department in the Americas.

At one point Curiel said, “I don’t know where to start. Should I ask you? Maybe I’ll start at $10 million.”

The Taj Mahal Diamond, a gift from Richard Burton to Elizabeth Taylor for her 40th birthday sold for $8.8 million. The heart-shaped diamond is believed to have been owned by emperor Shah Jahan (1592-1666). He presented the diamond to his favorite and most beloved wife, Mumtaz-i-Mahal. The emperor’s grief at her death just four years later inspired him to commission the majestic Taj Mahal in her memory. The estimate was $300,000 - $500,000.



A Bulgari 18.26-carat emerald and diamond pendant brooch sold for $6.5 million, spectacularly above the $500,000 to $700,000 estimate.

It was a big night for Bulgari. An emerald and diamond necklace sold for $6.1 million, well above its $1 million to $1.5 million estimate. This was followed by a sapphire and diamond sautoir that sold for $5.9 million, smashing the high estimate of $800,000.

Van Cleef & Arpels also had a big night. A ruby and diamond ring, a gift from Burton, sold for $4.2 million, a world record for a ruby per carat.

The Mike Todd Diamond Tiara, which made some of the women weak in the knees, sold for $4.2 million, totally smashing its estimate $60,000 to $80,000 estimate.

A Bulgaria emerald and diamond bracelet sold for just over $4 million.

Cartier also had a great night. A ruby and diamond necklace from the Parisian luxury jewelry house sold for $3.7 million, smashing its $200,000 to $300,000 estimate.

At the brief press conference that followed, Curiel was asked to explain why the prices for the jewelry were so far above the actual prices. He explained that the items were priced according to their “intrinsic value” and not based on Taylor’s celebrity appeal.

“We wanted to let the market decide what premium to pay over the value of the stones or the value of the stones or the value of the jewels,” he said.

The market decided.

AGTA's 2011 Spectrum Award Winners

The 27th annual AGTA Spectrum Awards competition, sponsored by the American Gem Trade Association was held October 23-24, in New York. Judges for the 2011 competition included magazine editors, jewelry designers and gemstone cutters. The annual AGTA Spectrum Awards Media Day was held Monday and featured all of the jewelry and gemstone submissions. Attendees included top fashion/accessory editors from the trade and consumer press, stylists and bloggers.

AGTA SPECTRUM AWARDS
BEST OF CATEGORY WINNERS

Best of Show
Todd Reed, Todd Reed, Inc. (opening photo)
Palladium cuff bracelet featuring a 22.40 ct. Aquamarine accented with gray diamonds (6.90 ctw.) and white diamonds (2.20 ctw.).

Best Use of Color
Martin Key, Martin Key Co. 

22K yellow gold "Frame" ring featuring a 1.50 ct. blue tourmaline accented with four Mexican fire opal baguettes (1.82 ctw.).

Best Use of Platinum and Color
Niveet Nagpal, Omi Gems, Inc.
Platinum "Princess of Ratnapura" bracelet featuring nine round sapphires (14.0 ctw.) and round diamonds (8.48 ctw.).

Best Use of Pearls
Llyn L. Strelau, Jewels by Design
Sculpture titled "Who Are You" featuring two-tone gold and silver with freshwater baroque Pearls, South Sea keshi Pearls, akoya seed Pearls, demantoid garnets (.25 ctw.), .20 ct. ruby and cognac diamonds (.03 ctw.) on a crystal quartz base (242 ctw.).

Fashion Forward
Gregore Morin, Gregore Joailliers
18K white and yellow gold earrings featuring lemon chrysoprase (22.0 ctw.) accented with garnets (2.38 ctw.).


BRIDAL WEAR

 

Bridal Wear - 1st Place
Niveet Nagpal, Omi Gems, Inc.

Platinum and 18K yellow gold ring featuring a 5.55 ct. oval tsavorite garnet accented with fancy yellow diamonds (.71 ctw.).

Bridal Wear - 2nd Place
Guilherme Ferreira, Vielle Jewelers, LLC

18K yellow gold, palladium and titanium ring featuring a 3.14 ct. yellow tourmaline accented with fancy-colored diamonds (.74 ctw.).

Bridal Wear - 3rd Place
Michael Endlich, Pave Fine Jewelry

Platinum ring featuring a 10.08 ct. cushion-cut spinel accented with diamond baguettes (1.09 ctw.).

Bridal Wear - Honorable Mention
Ryan Roberts, Ryan Roberts, Ltd.

18K white gold ring featuring a 3.02 ct. pink diamond, white diamonds (29.5 ctw.) and pink and brown diamonds (24.5 ctw.).

Bridal Wear - Platinum Honors
Yehouda Saketkhou, Yael Designs

Platinum "Triad" ring featuring a 6.34 ct. unheated blue sapphire accented with white diamonds (1.03 ctw.).

Bridal Wear - Entry Platinum Honors
Robert Pelliccia, J.R. Dunn Jewelers

Platinum ring featuring a 1.37 ct. round blue sapphire accented with diamonds (.46 ctw.) and blue sapphires (.28 ctw.).

Bridal Wear - Manufacturing Honors
Neda Benham, Diamonds For A Cure: 18K rose gold ring with a 3.80 ct. emerald-shaped, rough-cut pink diamond and round diamonds (0.88 ctw.).

BUSINESS/DAY WEAR

Business/Day Wear - 1st Place and Best of Show
Todd Reed, Todd Reed, Inc.: 

Palladium cuff bracelet featuring a 22.40 ct. aquamarine accented with grey diamonds (6.90 ctw.) and white diamonds (2.20 ctw.).

Business/Day Wear - 2nd Place and Fashion Forward
Gregore Morin, Gregore Joailliers

18K white and yellow gold earrings featuring lemon Chrysoprase (22.0 ctw.) accented with garnets (2.38 ctw.).

Business/Day Wear - 3rd Place and Best Use of Color
Martin Key, Martin Key Co.

22K yellow gold "Frame" ring featuring a 1.50 ct. blue tourmaline accented with four Mexican fire opal baguettes (1.82 ctw.).

Business/Day Wear - Honorable Mention
Eva Cheng, Elite Import

18K rose gold pendant/brooch featuring a freeform rose Quartz set with a .70 ct. round diamond and accented with 178 diamonds (1.20 ctw.).

Business/Day Wear - Platinum Honors
Maria Canale, Richard Krementz Gemstones

Platinum "Wave" pendant featuring a 2.18 ct. Paraiba tourmaline accented with diamonds (3.72 ctw.).

Business/Day Wear - Platinum Honors
Ron Lodholz, Stonehaven Jewelry Gallery: Platinum ring featuring a 1.41 ct. aquamarine accented with Diamonds (.06 ctw.).

Business/Day Wear - Manufacturing Honors
Alan Friedman, Alan Friedman

14K white and rose gold ring featuring a 12.59 ct. emerald-cut aquamarine.

CLASSICAL

Classical - 1st Place
Samuel Getz, Samuel Getz Designs

Platinum and 18K yellow gold necklace featuring yellow sapphires (68.77 ctw.), blue sapphires (24.34 ctw.), red spinels (24.20 ctw.) and diamonds (22.38 ctw.).

Classical - 2nd Place
Sean Ryan, Schmitt Jewelers

18K white and rose gold "Just Peachy" ring featuring a 4.50 ct. oval padparadscha sapphire accented with white micropave diamonds (1.13 ctw.).

Classical - 3rd Place
Patricia Van Wagoner, Beija Flor

22K yellow gold necklace featuring a 17.17 ct. rhodochrosite briolette and a 3.58 ct. rhodochrosite kite accented with Paraiba tourmalines (.45 ctw.).

Classical - Honorable Mention
Frederic Sage, Frederic Sage

18K white gold "Modern Deco" cufflinks featuring “seafoam” green tourmalines (4.48 ctw.) and diamonds (.56 ctw.).

Classical - Platinum Honors
Christopher Olson, Molina Fine Jewelers

Platinum "Temple of the Sacred Heart" ring featuring a 10.05 ct. oval untreated ruby accented with white diamonds (7.18 ctw.) and rubies (.22 ctw.).

Classical - Manufacturing Honors
Christopher Duquet, Christopher Duquet Fine Jewelry Design

14K white gold ring featuring a 12.5mm South Sea black pearl.

EVENING WEAR

Evening Wear - 1st Place
Cynthia Renee Zava, Cynthia Renee Zava

Palladium necklace featuring a suite of green tourmalines (75.89 ctw.).

Evening Wear - 2nd Place
Evelyn Clothier, Evelyn Clothier Jewelry

18K yellow gold earrings featuring aquamarine briolettes (50.95 ctw.) accented with Diamonds (9.29 ctw.).

Evening Wear - 3rd Place
Samuel Getz, Samuel Getz Designs

18K white gold ring featuring a 43.05 ct. spherical black opal accented with tsavorite garnets (2.70 ctw.), blue sapphires (2.51 ctw.), iolites (1.53 ctw.), Paraiba Tourmalines (.71 ctw.) and Diamonds (.63 ctw.).

Evening Wear - Honorable Mention
Erica Courtney, Erica Courtney

18K yellow gold earrings featuring tanzanites (77.99 ctw.) and diamonds (3.38 ctw.).

Evening Wear - Platinum Honors
Ralph Wobito, Zultanite Gems, LLC

Platinum earrings featuring zultanite (diaspore) briolettes (25.15 ctw.) accented with white diamonds (0.95 ctw.).

Evening Wear - Manufacturing Honors
Laura Jackowski-Dickson, LJD Designs

18K white gold cuff featuring two South Sea cultured Pearls (14.8mm and 11.3mm) and four freshwater pink cultured Pearls accented with Diamonds.

MEN'S WEAR

Men's Wear - 1st Place
Mark Lauer, Mark Michael Designs

18K yellow gold cufflinks featuring Jasper agate and lapis lazuli composite accented with 2mm spessartite garnets and sapphires.

Men's Wear – 2nd Place
Eddie Sakamoto, Schmitt Jewelers

Platinum "Suspense" ring featuring a 14.49 ct. blue star sapphire accented with diamond baguettes (3.60 ctw.).

Men's Wear - 3rd Place
Ron Lodholz, Stonehaven Jewelry Gallery

18K yellow and rose gold cufflinks featuring cone-cut garnets (10.96 ctw.) with platinum suspensions.

Men's Wear - Honorable Mention
Michael Endlich, Pave Fine Jewelry

22K yellow gold ring featuring an 8.01 ct. purple star sapphire cabochon.

Men's Wear - Platinum Honors
Alan Friedman, Alan Friedman

Platinum ring with a cushion-cut purple spinel (6.62 ct.).

Men's Wear - Manufacturing Honors
Oliver Smith, Oliver Smith Jeweler

Sterling silver and rose gold ring featuring Madagascar Ocean Jasper.

CUTTING EDGE AWARDS

CLASSIC CUT GEMSTONES

A1 - Open Category Classic Gemstone - 1st Place
Joseph Ambalu, Amba Gem Corp.

8.04 ct. pigeon blood ruby.

A1 - Open Category Classic Gemstone -2nd Place
Sailesh Lakhi, Lakhi Impex, Inc.

43.42 ct. cushion-shape, step-cut blue sapphire.

A1 - Open Category Classic Gemstone - 3rd Place
Allen Kleiman, A. Kleiman & Co.

6.66 ct. cushion-cut pink sapphire.

A1 - Open Category Classic Gemstone - Honorable Mention
Gonen Abrahami, ABC Gems

4.93 ct. emerald-cut emerald.

A2 - Open Category All Other Faceted - 1st Place
Ruben Bindra, B & B Fine Gems

9.59 ct. trillion-cut red spinel.

A2 - Open Category All Other Faceted - 2nd Place
Ruben Bindra, B & B Fine Gems

32.58 ct. oval-shape tsavorite garnet.

A2 - Open Category All Other Faceted - 3rd Place
Ben Kho, Kho International, Inc.

12.91 ct. princess-cut rhodochrosite.

A2 - Open Category All Other Faceted - Honorable Mention
Ben Kho, Kho International, Inc.

15.28 ct. ct. oval-cut Imperial topaz.

A2 - Open Category All Other Faceted - Honorable Mention
Jeffrey Bilgore, Jeffrey Bilgore, LLC

49.24 ct. Asscher-cut aquamarine.

PHENOMENAL GEMSTONES

A3 - Open Category Phenomenal - 1st Place
Robyn Dufty, DuftyWeis Opals, Inc.

36.73 ct. Mexican fire opal cabochon.

A3 - Open Category Phenomenal - 2nd Place
Allen Kleiman, A. Kleiman & Co.

Pair of oval alexandrites (3.25 ctw.).

A3 - Open Category Phenomenal – 3rd Place
Jeffrey Bilgore, Jeffrey Bilgore, LLC

15.0 ct. oval cat's eye chrysoberyl.

PAIRS & SUITES

B - Pairs & Suites - 1st Place
Clay Zava, Zava Mastercuts

Suite of pastel cuprian tourmalines (127.40 ctw.).

B - Pairs & Suites - 2nd Place
Allen Kleiman, A. Kleiman & Co.

15-piece round blue Sapphire necklace layout (68.75 ctw.).

B - Pairs & Suites - 3rd Place
Hemant Phophaliya, AG Color, Inc.

Pair of pear-shaped cabochon tanzanites (41.62 ctw.).

B - Pairs & Suites - Honorable Mention
Darrell Jang, Darrell Jang

Aspen-shaped leaves cut from a 15.09 ct. peridot and a 11.15 ct. heliodor

FACETING

C – Faceting - 1st Place
Jeff L. White, J.L. White Fine Gemstones

48.83 ct. square, cushion-cut morganite.

C – Faceting - 2nd Place
John Dyer, John Dyer & Co.

14.43 ct. cushion-cut pink tourmaline (left).

C – Faceting - 3rd Place
Ben Kho, Kho International, Inc.

13.78 ct. sunburst-cut sphalerite.

C – Faceting - Honorable Mention
Ben Kho, Kho International, Inc.

50.20 ct. kaleidoscope-cut kunzite.

CARVING

D – Carving - 1st Place
Joseph August Voss, Joseph August Voss

220.30 ct. crystal quartz carving.

D – Carving - 2nd Place
John Dyer, John Dyer & Co.

62.64 ct. "Golden Reflections" beryl (left).

 D – Carving - 3rd Place
Naomi Sarna, Naomi Sarna Designs

Carved white opal sculpture (149 grams).

COMBINATION

E – Combination - 1st Place
Thomas Trozzo, Trozzo

66.48 ct. square, dimple, concaved, scissor-cut aquamarine.

E – Combination - 2nd Place
John Dyer, John Dyer & Co.

50.92 ct. trillion custom-cut morganite (left).



 E – Combination - 3rd Place
John Dyer, John Dyer & Co.

9.50 ct. Umbalite Garnet (left).

OBJECTS OF ART 
F - Objects of Art - 1st Place

Gregore Morin, Gregore Joailliers

Kokeshi Princess featuring white Opal (83.98 ctw.), basinite (36.29 ctw.), rubellite tourmalines (2.91 ctw.) and diamonds (.72 ctw.) with 18K white gold and platinum on a base of silver, brass and wood.

F - Objects of Art - 2nd Place and Best Use of Pearls
Llyn L. Strelau, Jewels by Design

Sculpture titled "Who Are You" featuring two-tone gold and silver with freshwater baroque Pearls, South Sea keshi Pearls, akoya seed pearls, demantoid Garnets (.25 ctw.), .20 ct. ruby and cognac diamonds (.03 ctw.) on a crystal quartz base (242 ctw.).

F - Objects of Art - 3rd Place
Tigran Lementsyan, Repair Restoration Center

"Dandelion" featuring quartz and diamonds (.36 ctw.) with silver, 18K yellow gold and gold-plated leaves.

F - Objects of Art - Honorable Mention
Darryl Alexander, Alexander's Jewelers

"Got Paint?"- opalized wood with a sterling frame in a black marble base. The paint is sugalite, mookite, turquoise and onyx, with quartz dish & sterling tube with coral. The brushes are onyx, Agate, hematite, quartz and multiple woods.

This year's AGTA Spectrum Award will be presented during the 2011 AGTA GemFair Tucson, February 1 – 6, 2011, at the Tucson Convention Center in Tucson, Ariz. Winning entries will be displayed during the show and AGTA Spectrum Awards recipients will be recognized during the AGTA Dinner Dance and Awards Gala on February 5.

AGTA Spectrum Awards entries were judged on the basis of overall beauty and wearability, innovative design, effective use of materials, quality of gemstones, quality of workmanship, broad-base consumer appeal and potential to generate positive publicity for natural colored gemstones.

AGTA Cutting Edge Awards honor excellence and creativity in lapidary arts, including natural colored gemstones and cultured pearls, carvings, other gem materials and objects of art.

Platinum Honors were once again awarded with the support of Platinum Guild International. All entries whose primary metal was platinum were eligible in this category.

All designs that qualified for the Spectrum Awards competition were considered for Manufacturing Honors. This award celebrates outstanding use of colored gemstones and cultured pearls in jewelry appropriate to be manufactured in production quantities.

Fashion Forward Honors recognizes the outstanding use of colored gemstone and/or cultured pearl beads in artful, trend-setting jewelry. All necklaces, earrings, bracelets or other jewelry that qualified for judging in the AGTA Spectrum Awards competition automatically qualified for Fashion Forward Honors judging.

Style of Jolie Jewelry Goes Public in the South of France

The "Angelina Jolie Exceptional Emerald Necklace" features 44 cushion cut emeralds with a total weight of 103.48 carats, many of which have attained the exclusive gemstone classification of vivid green. The necklace is sculpted in 18K yellow gold. Photo credit: Robert Procop Exceptional Jewels

The South of France, the renowned playground for the wealthy and well-connected, is going to have a little more sparkle and glitter than usual with the public showing of the Style of Jolie jewelry collection.

The faceted emeralds of the "Jolie Pear Shape Emerald Earrings" are mounted on rolled tubular 18k red gold. It is a piece unique and part of the House of Jolie Exceptional Jewels collection. Photo credit: Robert Procop Exceptional Jewels

The complete collection of jewelry created with emeralds, spinels, citrines, rubellites and quartz by actress and director Angelina Jolie and private jeweler Robert Procop goes on display Sunday at the Grand Hotel in Cap Ferret in Saint-Jean-Cap-Ferrat, France. The viewing will run till August 15.

The "Premiere Black Faceted Necklace" was the first jeweled necklace created by Angelina Jolie and Robert Procop and was unveiled by Jolie to the premiere of her movie "Salt." The necklace is sculpted in 18k rose gold and has 47 black spinels with a total weight of 74.35 carats. Photo credit: Robert Procop Exceptional Jewels

The collection is usually only available by appointment. The only other time the pieces appeared in public was during its unveiling in Los Angeles in April 2011. Proceeds from any sales made during the current showing of the collection will go toward Jolie’s foundation, “Education Partnership for Children of Conflict,” as always.

The 27 carat emerald used for this ring was discovered in the Kunas mines of Colombia. Faceted in the signature Jolie-Procop tablet shape, the gem is mounted in a floating edge bezel of rose gold. From Style of Jolie Exceptional Jewels collection, this is a piece unique. Photo credit: Robert Procop Exceptional Jewels

In an exclusive interview with Procop, the designer says that location in the world class hotel near Nice during the summer is an appropriate venue to showcase the jewelry.

A 186.42-carat pear shaped citrine is highlighted by the graduated rounded bezel set of cushion cut gemstones in this Riviera opera length necklace. The natural golden hues of citrine radiate warmth and vitality within a setting of luminous yellow gold. The necklace is sculpted in 18K yellow gold and has a total weight of 186.42 carat of golden citrine. Photo credit: Robert Procop Exceptional Jewels

“In presenting the collection in its entirety outside of our design studio, it allows for the inspiration, the charitable aspect and style to truly come to life and be more easily visually communicated,” he says. “We are still, essentially, working with private clients, in a more public forum.”

Each rubellite stone in these earring is cut in the form of a tablet and is surrounded by angled bezels of 18K rose gold. Photo credit: Robert Procop Exceptional Jewels

He continues, “I rarely do public displays, so when we decided to host the viewing, we knew it had to be in a location that would rival the exceptional jewels that will be on display. The Grand Hotel at Cap Ferret is an historical location and one of the most beautiful locations in the world. To visit the collection here, it becomes an even greater destination, one which is familiar to the true connoisseur, who would appreciate the purity and quality of both the locale and these artistic jewels.”

Two 67.74-ct. pale-green beryls in these earrings are complimented by the bold tapered angles of 18k yellow gold. These earrings were first worn by Jolie to the premiere of her movie, "The Tourist." Part of the Style of Jolie Tablet Collection, the cut of the stone was inspired by ancient carved tablet engravings. The tablet design style began when Jolie and Procop created a special Christmas gift for Brad Pitt. Photo credit: Robert Procop Exceptional Jewels

In addition, Procop says the setting still provides the type of exclusivity that is appropriate for the collection. He stresses that this is not a jewelry exhibit nor is it a retail setting.

This bracelet is constructed from five rows of white quartz tablet cut stones that stack upon the wrist. Photo credit: Robert Procop Exceptional Jewels

“We are presenting the collection in an exclusive setting for those who would like to admire without a sense of salesmanship,” he says. “For those who would like to acquire part of this once in a lifetime collection and be part of the mission with Angelina help to educate children in need, and pieces will be available for sale.”

The 28.96-carat pear shape emerald for this ring is from the mines of Colombia and is set on soft round 18k yellow gold bezel. It is a piece unique and part of the House of Jolie Exceptional Jewels collection. Photo credit: Robert Procop Exceptional Jewels

Yael Turns to the Cosmos for Inspiration

Three strands of diamond pave hug a 6.06-carat fire opal set in 18k rose gold.

Fine jewelry design house, Yael Designs, introduced its summer 2012 Lyra Collection during the JCK Luxury tradeshow (May 29 - May 31). 

Green tourmaline earringss with a total weight of  7.13 carats highlighted by diamond pave and white gold.

The collection showcases gemstones wrapped in elegant diamond threads set in 18k white and rose gold. The cocktail rings, earrings and pendants use tourmalines, morganites, rubellites and opals that bring plenty of color to the collection. Color and diamond threads overlapping large gems were two prominent themes at this year’s tradeshows in Las Vegas.

Diamond pave white gold sparkle as it surrounds an 8.87-carat opal.

The inspiration and the name for the collection came from the cosmos, more specifically, the small constellation named Lyra, which contains one the brightest stars in the sky.

Although the full collection made its first appearance at a tradeshow, individual pieces from the collection have been worn by celebrities—including ice skating champion Kristi Yamaguchi and actress Kerry Washington—and received a prestigious 2012 AGTA Spectrum Award.