Sotheby’s New York Watch Auction Fetches $7.2 million

A Patek Philippe Reference 658 black dial pocket watch (pictured above) was the top lot at Sotheby’s New York Important Watches auction, selling for $527,000, well above its high estimate. Made in 1937, it features a yellow gold open-faced perpetual calendar split-seconds chronograph minute repeater with moon phases and a black dial. The auction house says it is the first known reference 658 to have been produced and one of 15 made with a black dial.

The December 11 sale was Sotheby’s final watch auction of 2014. It achieved $7.2 million, with 68.5 percent sold by lot and 74.6 percent sold by value, raising the company’s 2014 sales in this category to a Sotheby’s record of $100.1 million for the year.

Familiar names in the watch world such as Patek Philippe, Vacheron Constantin and Paul Newman Daytona Rolex watches shared the center of attention with rare complicated mechanical clocks.

Other top lots include:

* A Courvoisier & Compe. no. 11359 ormolu and mahogany two tune musical automaton birdcage clock with double singing and flying birds sold for $389,000, well above its estimate. The circa 1820 clock was the top lot from the collection of Frank and Lore Metzger that totaled $753,000.

* A Patek Philippe Ref. 5959 platinum split seconds chronograph wristwatch with register sold for $257,000. Sotheby’s said the circa 2008 timepiece with its “Officer” style case, white dial and special italicized Arabic numerals, “bears many striking similarities” to the earliest-known split second chronograph wristwatch: the no. 124824, started in 1903 and completed in 1923, which the auction house sold in June for $2.9 million.

* A Black Starr & Frost and Pierre Gravoin rock crystal, mother-of-pearl, hardstone and gem-set desk timepiece, circa 1930, sold for $377,000, more than three times its high estimate.

* Five of Rolex’s “Paul Newman Daytonas” sold for a combined total of $591,000. The group was led by a stainless steel chronograph wristwatch with bracelet (Ref 6263 No 2874356) Paul Newman Daytona Panda, circa 1970, that sold for $185,000.

* A Vacheron Constantin yellow gold, enamel, and pearl-set open-faced watch sold for $233,000. Made in 1930 with an enamel scene of Le Temps et les Parques painted by Jeanne Vauthey, it is among a celebrated few Vacheron Constantin timepieces from the early 20th century with a painted enamel scene, Sotheby’s said. The image depicts the Three Fates, “who spin, measure and cut a length of yarn in an allegory for destiny.”

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Colorless Diamonds and Celebrated Collections Lead Sotheby’s Jewelry Sales

A platinum-topped gold and diamond necklace presented to Helen Hay on the occasion of her marriage to Payne Whitney in 1902 was the top lot at Sotheby’s Magnificent Jewels sale. 

The necklace (pictured above) features four diamonds ranging from F to H color, and weighing 27.48, 15.53, 13.08 and 8.91 carats respectively, the necklace sold for nearly $3.2 million. The marriage of Hay and Whitney was a society event that made headlines across the United States. All seven jewels from the estate of Helen Hay Whitney were sold for $4.8 million. 

In addition to the Helen Hay Whitney estate, collection from Estée Lauder, Evelyn H. Lauder and Grand Duchess Vladimir of Russia were among the most sought after jewels from bidders, which included a world record price for a Cartier “Tutti Frutti” bracelet

Jewels from the collections of Estée Lauder and Mrs. Evelyn H. Lauder together achieved $3.9 million, with more than 80 percent of the pieces on offer fetching prices above their high estimates.

Thirty-two jewels from the collection of Evelyn H. Lauder—sold to benefit The Breast Cancer Research Foundation—were led by a “Tutti Frutti” bracelet by Cartier, circa 1928 (pictured above), that sold for more than $2.1 million (more than double its high estimate), marking a new world auction record for any Tutti Frutti bracelet by Cartier.

Ten pieces from the Estée Lauder collection sold to benefit the Alzheimer’s Drug Discovery Foundation were led by a pair of fancy brown-yellow diamond and diamond earclips by Van Cleef & Arpels that fetched $233,000.

A pair of platinum, emerald and diamond pendant-earclips (pictured above) that originally belonged to the legendary collection of Grand Duchess Vladimir of Russia sold for more than $1 million. After being smuggled out of Russia by an English friend of the Duchess following the abdication of the Tsar in 1917, the emeralds descended to the Duchess’s daughter and granddaughter, and were acquired at auction at Sotheby’s Geneva in 1987 for Princess Gloria von Thurn und Taxis, the auction house said. 

From the collection of Marlene Dietrich—the legendary actress, singer and cabaret star—a 14k tri-color gold and lapis lazuli bracelet, Cartier circa 1940, sold for $179,000, nearly six times above its high estimate. The bracelet was a gift from longtime friend Erich Maria Remarque, author of “All Quiet on the Western Front.”

Two platinum and diamond rings were among the top four lots of the auction, showing that despite the trend toward colored diamonds, statement colorless diamonds can still bring in world-class prices. 

The first featured a 25.44-carat emerald-cut diamond of D color, VVS1 clarity and potentially Internally Flawless. It sold for $2.96 million, or $116,548 per carat (pictured above).

The second featured a 47.48- carat, round brilliant-cut diamond of K color, VVS1 clarity that sold for $1.8 million. 

Other highlights of the auction were:

* A platinum and diamond ring centered by a 3.02 emerald-cut fancy grayish blue diamond with VVS2 clarity, circa 1930, sold for $1.4 million, or $478,476 per carat, well above its high estimate.

* A platinum, fancy intense purplish pink diamond and diamond ring, 3.07 carats, SI2 clarity, sold for $1.2 million ($392,508 per carat).

* Platinum and diamond earclips by Harry Winston, 10.20 carats, G color, VVS2 clarity and 9.53 carats, G color,VS1 clarity, sold for $1.08 million ($54,992 per carat).

* Egyptian-revival platinum, diamond and colored stone bracelet, LaCloche Frères, Paris, sold for $1.5 million. 

The December 9 auction achieved more than $44.1 million in sales, with 75.8 percent sold by lot and 81.1 percent sold by value. It raised Sotheby’s worldwide jewelry sales in 2014 to $597.5 million, already surpassing the record $529.3 million the company achieved in 2013 in this category. This is without including Sotheby’s London jewelry sale held Thursday. The auction house estimates that sales for 2014 will exceed $600 million.

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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.

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Burmese Ruby and Diamond Necklace Highlights Sotheby’s Hong Kong Sale

Burmese rubies, colored diamonds and Cartier jewels led Sotheby’s Hong Kong Fine Jewels and Jadeite sale. 

The top lot was a ruby and diamond necklace with 50.57 carats of unheated “Pigeon’s Blood” Mogok Burmese rubies that sold for $805,128 (top photo). 

The necklace is set with 37 graduated oval rubies, decorated with approximately 42.70 carats of pear-shaped and brilliant-cut diamonds mounted in 18k white and yellow gold. 

Other items of note at the November 28 sale include the following: 

* A 13.88-carat fancy intense yellow diamond and white diamond ring sold for $466,667. The yellow diamond is flanked by two trapeze-shaped diamonds together weighing approximately 3 carats, mounted in platinum and 18k yellow gold.

* A Cartier “Tiger” clip-brooch sold for $451,282, more than double its high estimate of $206,352. Set with brilliant-cut yellow diamonds and diamonds together weighing approximately 9.95 carats, speckled by onyx, embellished by pear-shaped emerald-set eyes, mounted in 18k yellow gold, signed and numbered.

* A 4.79-carat unheated “Pigeon’s Blood” Mogok Burmese ruby and diamond ring by Cartier sold for $435,897. The oval ruby is flanked on each side by a half-moon shaped diamond, decorated by brilliant cut and baguette diamonds together weighing approximately 1.30 carats, mounted in platinum, signed and numbered. 

* Fancy intense yellow diamond and white diamond ear clips that sold for $312,821. Each ear clip has a cut-cornered rectangular modified brilliant-cut fancy intense yellow diamond weighing 6.30 and 6.15 carats respectively, suspended from a pear-shaped and brilliant-cut diamonds weighing a total of 4.45 carats, mounted in platinum and 18k yellow gold.

The 180-lot auction of signed pieces, colored gems and diamonds, modern and vintage pieces, and a charity session to aid Operation Smile China Medical Mission, which provides free surgery to underprivileged children and young adults with cleft lips or cleft palates in China, fetched more than $7.85 million, with 87.2 percent of the items sold by lot and 75.8 percent sold by value. 

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9.75-Carat Blue Diamond Fetches World Auction Record $32.6 Million

A 9.75-carat fancy vivid blue diamond from the collection of Mrs. Paul Mellon set two world auction records Thursday when it sold for more than $32.6 million Sotheby’s New York. 

The price, smashing its high estimate of $15 million, set a world auction record for any blue diamond; and set a world auction record for price-per-carat for any diamond, at more than $3.3 million per carat.

Seven bidders competed for 20 minutes for the pear-shaped diamond, Sotheby’s said. It ultimately sold to a Hong Kong private collector who named it “The Zoe Diamond.”

The previous auction record for any blue diamond was $24.3 million, set by the Wittelsbach Diamond at Christie’s London in December 2008. The previous per-carat auction record for any diamond was nearly $2.4 million, set by a 14.82 carat fancy vivid orange diamond at Christie’s in Geneva in November 2013.

“From the moment I saw this diamond, I knew that it would be one of the most important stones that I will ever have the privilege of presenting at auction,” said Gary Schuler, head of Sotheby’s Jewelry Department in New York. “Mrs. Mellon’s diamond absolutely deserves the place in the record books that it achieved tonight.”

The diamond was the top lot on the first day of a two-day sale of “Property from the Collection of Mrs. Paul Mellon: Jewels & Objects of Vertu.” Other jewelry pieces in the sale, which resumes today (Friday), include Verdura, Schlumberger and Givenchy, Cartier, Van Cleef & Arpels and Black Starr & Frost. 

Sotheby’s New York auctions of the Mellon Collection continue through Sunday.

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Sun-Drop Sells for a Record-Breaking $12.3 Million

The 110.03-carat Sun-Drop Diamond fetched $12.3 million Tuesday at Sotheby’s Sale of Magnificent Jewels in Geneva.The auction house said the price paid for what is considered to be the largest known pear-shaped fancy vivid yellow diamond in the world set a world auction record for yellow diamonds.

The previous record for a yellow diamond was achieved by “The Vivid Yellow,” a 32.77-carat pear‐shaped fancy vivid yellow diamond, VS2, which sold for nearly $6.6 million at Christie’s New York in October. The previous world auction record price per carat for an emerald was achieved by a 10-carat emerald ring, sold for $113,000 per carat, at Christie’s Hong Kong in May 2000.

The Sun-Drop is graded fancy vivid yellow, the highest color grading for a yellow diamond, and has a purity of VVS1. The stone was exhibited earlier this year at London’s Natural History Museum. The rough for the Sun‐Drop was discovered in South Africa in 2010, and was cut and polished by Cora International, a New York diamond manufacturer.

The sale of diamonds, gemstones and jewelry took in nearly $70.2 million with a sell‐through rate of 82 percent by lot. It was one of Sotheby’s highest totals ever for a jewelry auction.

“We are thrilled with the price achieved by this spectacular daffodil yellow diamond; it is one of the most impressive I have had the pleasure of selling,” said David Bennett, chairman of Sotheby’s Jewellery Department in Europe and the Middle East and co‐chairman of Sotheby’s Switzerland. “Today’s strong sell‐through rates are a reflection of the continued strength and resilience of the international jewelry market.”

Other colored diamonds and gemstones that achieved strong results included:

* A 38.88-carat, cushion‐shaped diamond that fetched nearly $7 million. The D color, flawless clarity stone is part of the Type IIa subgroup, which comprise less than 2 percent of all gem diamonds. They are chemically the purest of all diamond crystals and often have extraordinary optical transparency.

* A 4.16-crata fancy vivid blue cut‐cornered rectangular modified brilliant‐cut diamond sold for $4.2 million.

* A 12.01-carat Muzo emerald which sold for $1.4 million, smashing its pre‐sale estimate of $400,000 to 600,000 and setting a per carat record price for emeralds at auction.

Top selling period and signed jewels included:

* A Cartier natural pearl and diamond necklace designed in the 1930s, which sold for $3.3 million, smashing its pre-auction estimate of $765,000 to $1.2 million.

* A 1987 JAR rock crystal and diamond brooch, which sold for $370,874.

* A 1984 JAR morganite and diamond pendent, which sold for $370,874, beating auction estimates.

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.

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‘Graff Ruby’ Leads Esteemed Jewelry Collection For Sale at Sotheby’s

The 8.62-carat “Graff Ruby,” is the lead item in a collection of 16 jewels belonging to Dimitri Mavrommatis that is part of Sotheby’s Geneva November 12 Magnificent Jewels and Noble Jewels sale.  The cushion-shaped Burmese stone is estimated to fetch 6.9 million to nearly 9.2 million. 

The gem possesses the rare vivid red hue known as “pigeon’s blood,” according to a report from the Swiss Gemmological Institute, and is also of outstanding purity and superb brilliance.

Dimitri Mavrommatis began a lifelong interest in the fine and decorative arts in 1982 during trips to the Metropolitan Museum of Art. The 16 jewelry and gem pieces from his personal collection to be placed on auction at the Beau-Rivage Hotel is expected to bring in more than $17.6 million.

David Bennett, chairman of Sotheby’s Jewellery Division for Europe and the Middle East, said the collection “is a testament to Dimitri Mavrommatis’ discerning eye and impeccable taste.”

Another item of from the Mavrommatis collection is a 27.54-carat Kashmir sapphire (pictured above) to fetch $3 million to $6.1 million. The stone exhibits a saturated velvety blue color, combined with a very high purity, according to the auction house. “These features elevate Kashmir sapphires above all others and the appearance of such a fine example weighing over 20 carats is an extremely rare event.”

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Pink Diamond Sets Auction Record, Natural Pearls Remain in Demand

8.41-carat internally flawless pink diamond

The jewelry auction market continues to show strength as gems sparkled during sales in Hong Kong and New York. 

Sotheby’s Hong Kong said a world auction record was set for a fancy vivid pink diamond when an 8.41-carat internally flawless pink diamond sold for nearly $17.8 million at its Magnificent Jewels sale on October 7. The internally flawless fancy vivid purple-pink gem is a type IIa diamond, among the most chemically pure with exceptional optical transparency.

According to Sotheby’s, the previous world auction record for a fancy vivid pink diamond and record price per carat for a pink diamond were both achieved by a 5-carat pink diamond that sold for more than $10.7 million, or $2.15 million per carat, in Hong Kong in November 2009.

Per-carat price records were also set for a Cartier Kashmir sapphire ring that sold for $193,975 per carat and for a sapphire and diamond ring that sold for $236,404 per carat.

At Bonhams New York Fine Jewelry auction held October 8, a triple stand natural pearl, gem and diamond necklace (pictured above) fetched $185,000, over three times its high estimate. The piece is completed by a triple pavé diamond flowerhead clasp, enhanced by rubies, emeralds, and sapphires; centered by old European-cut diamonds and a fancy-cut emerald.

The top lot of the evening was a 14.51-carat round brilliant-cut diamond, flanked by tapered baguette-cut diamonds. 

In addition, a ruby and diamond bracelet designed as a graduated band of oval-cut ruby cluster links, enhanced by round brilliant-cut diamond borders, sold for $161,000; and a ruby and diamond pendant/brooch and necklace signed by M. Gerard where the largest ruby weighed 8 carats, achieved $106,250, soaring past its high estimate of $70,000.

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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.

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Rare 24-ct. Fancy Pink Diamond Up for Auction

A rare pink diamond of the "purest, vibrant hue," weighing 24.78 carats and graded Fancy Intense Pink by the Gemological Institute of America will be up for auction on November 16 at Sotheby’s Geneva, as part of its sale of Magnificent Jewels. The stone has a pre-sale estimate of $27- $38 million.

The emerald-cut stone, mounted as a ring, is categorized as a type IIa classification, which comprises less than 2 percent of the world’s diamonds, the auction house said in a statement. In addition, while presently graded as VVS2 clarity, the GIA states that the stone may be internally flawless after repolishing. It is part of a private collection and has not appeared on the open market since it was purchased some 60 years ago from Harry Winston.

“During my 35-year career at Sotheby’s I have had the opportunity to examine many magnificent and rare gemstones and, put simply, this stone is one of the most desirable diamonds I have ever seen,” said David Bennett, chairman, Europe and the Middle East, Sotheby’s International Jewellery Department. “What makes it so immensely rare is the combination of its exceptional color and purity with the classic emerald-cut—a style of cutting normally associated with white diamonds and one that is so highly sought-after when found in rare colors such as pink and blue. The stone’s character is further enhanced by the gently rounded corners which impart a unique softness and charm to this truly outstanding gemstone.”

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.

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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.

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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.

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8.41-Carat Purple-Pink Diamond May Set Auction Record

An 8.41-carat pear-shaped internally flawless fancy vivid purple-pink diamond is being priced to set a world-auction record for price per carat. It will appear as the top lot at the Sotheby’s Hong Kong Magnificent Jewels and Jadeite Autumn Sale on October 7. 

The diamond is expected to fetch $12.8 to $15.4 million, or a high estimate of more than $1.8 million per carat, the highest per-carat pre-sale estimate for any pink diamond to date, according to the international auction house.

It is “arguably the most desirable pink diamond to appear at auction in recent years,” Sotheby’s said in a statement. Internally flawless vivid or fancy intense pink diamonds of more than 8 carats are “virtually unseen.” 

“This color is one of the most beautiful and concentrated shades of pink in diamonds that I have seen and, combined with the exceptional clarity, it is not surprising that it would command the highest per-carat pre-sale estimate for any pink diamond to date,” said Quek Chin Yeow, deputy chairman, Asia, and chairman international Jewellery, Asia.

The unmounted purple-pink diamond was cut from a 19.54-carat rough mined by De Beers, with the final cutting completed in New York. It will tour Singapore, Taipei, New York, London, Geneva and Hong Kong prior to the auction.

The current record price ever paid at auction for a diamond, or any gemstone, is the Graff Pink, a 24.76-carat, Fancy Intense pink diamond, purchased by Lawrence Graff in November 2010 for more than $46.1 million. The record price per carat for a fancy vivid pink diamond is more than $2.1 million per carat set by a 5-carat diamond, sold in Hong Kong in January 2009 for more than$10.7 million

Pink diamonds have been coveted by rulers and prized by connoisseurs since they were first discovered in the mines of India centuries ago. Many of the great gems of history are pink diamonds, including the Williamson presented to Queen Elizabeth II at her wedding, the Hortense from the Crown Jewels of France, the Darya-i-Nur from the Iranian Crown Jewels and the Agra documented as having belonged to Babur, founder of the Mogul Empire.

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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. 

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Jewels of the Duchess of Windsor on the Block

Sotheby's will auction an estimated $4.8 million worth of jewelry once owned by Wallis Simpson, the American socialite who became Duchess of Windsor. The sale will take place Nov. 30 in London.

The 20 pieces belonged to Simpson and King Edward VIII, who abdicated to marry Simpson in 1937. The pair then became known as the Duke and Duchess of Windsor.

The pieces on sale include a Cartier heart-shaped emerald, ruby and diamond brooch, with the initials W.E. (Wallis, Edward) commissioned in 1957 to mark their 20th wedding anniversary (top); And a Cartier onyx and diamond panther bracelet and a flamingo clip encrusted with multicolored jewels (left).

In addition to the Cartier items, the selection will include a gold mesh, ruby, turquoise and diamond purse by Van Cleef & Arpels and a series of silver items and medals, once property of Edward, the Prince of Wales.

The Jewels of the Duchess of Windsor were first offered for auction by Sothebys in Geneva in April, 1987. The two-day auction sold all 306 lots offered and fetched $50 million, well above the $7 million pre-sale estimate. The total remains a world record for the auction of a single-owner jewelry collection. More than 1,000 people attended the sale in Geneva and another 1,000 participated from Sotheby’s New York via satellite.

Daryl Wickstrom To Lead Sotheby’s International Jewelry And Watch Divisions

Sotheby’s on Friday named longtime executive Daryl Wickstrom as international managing director of Sotheby’s Worldwide Jewelry and Watch Divisions. In this newly-created role, he will be tasked with expanding activity and growing sales in these areas, which experienced record results in recent years, the New York-based multinational company said in a statement. 

Wickstrom will work closely with David Bennett, Lisa Hubbard and Quek Chin Yeow, the company’s three Jewelry chairmen, Tim Bourne, worldwide head of Watches, and Patti Wong, chairman of Sotheby’s Diamonds, the company said. He will oversee activities in North America, Europe and Asia, as well as the company’s expanding Sotheby’s Diamonds retail business and related private sales activity.

The announcement was made by Bruno Vinciguerra, Sotheby’s chief operating officer. 

Wickstrom joined Sotheby’s in 1996 and was appointed executive VP and deputy chairman, Asia, in July 2008. He was instrumental in developing the growth strategy in Asia and particularly Sotheby’s expansion in China. During his time in this role, total sales in Asia surpassed $1 billion in 2011.

From 2002 through 2008 Wickstrom served as managing director of Sotheby’s Global Auction Division. During his tenure, he orchestrated many significant single-owner sales and helped launch of Sotheby’s Diamonds retail venture in 2005, the company said.  

In 2013, Sotheby’s saw its highest-ever annual totals for its jewelry and watch categories, with worldwide Jewelry sales achieving $529 million, and worldwide Watch sales reaching $97 million. This spring, Sotheby’s set new benchmark prices for: any jadeite jewel and any jewel by Cartier (the Hutton-Mdivani Necklace, $27.4 million); any yellow diamond and any jewel by Graff (the Graff Vivid Yellow, $16.3 million); and any ruby (29.62-Carat Oval Burmese Ruby, $7.3 million). In addition, world auction records were set this spring at Sotheby’s for several iconic models by Patek Philippe: any Ref. 5207P ($867,000); any contemporary time-only watch by the firm ($737,000); any Celestial model ($545,000); and any Ref. 5033 ($509,000).

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Record-Breaking Henry Graves ‘Supercomplication’ To Be Sold At Sotheby's

The Henry Graves Supercomplication, Patek Philippe, 1933

The watch that set a worldwide auction record 15 years ago will return to the block in November at Sotheby’s Geneva sale of Important Watches November 14. The Henry Graves “Supercomplication” has an estimate in excess of CHF 15 million ($16.8 million).

The Henry Graves Supercomplication made by Patek Philippe in 1933 is the most complicated watch ever made completely by human hand, Sotheby’s said. It is also considered to be the world’s most famous watch. It’s reappearance on the market after its record sale will coincide with Patek Philippe’s 175th anniversary celebrations. 

Sotheby’s first sold the timepiece in New York in December 1999, with an estimate of $3-5 million. It sparked an extended bidding war and sold for a record-breaking $11 million, becoming the most expensive timepiece ever sold at auction.

“The list of superlatives which can be attached to this icon of the 20th century is truly extraordinary,” Tim Bourne, Sotheby’s worldwide head of Watches, and Daryn Schnipper, chairman of Sotheby’s Watch Division, said in a joint statement. “Indisputably the ‘Holy Grail’ of watches, The Henry Graves Supercomplication combines the Renaissance ideal of the unity of beauty and craftsmanship with the apogee of science.”

In 1925, Patek Philippe was commissioned by Henry Graves, a prominent New York banker, to produce the most complicated watch in the world. The product of three years of research and five years of effort it resulted in a gold openface minute repeating chronograph clockwatch with Westminster chimes. Among its features are a perpetual calendar, moon phases, sidereal time, power reserve, and indications for time of sunset and sunrise and the night sky of New York City. With a total of 24 horological complications, The Graves watch retained the title of the world’s most complicated watch for 56 years and even then was only surpassed by technicians working with the aid of computer-assisted machines.

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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.

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