Editor’s Note
This article previews the upcoming auction of the late Austrian billionaire Heidi Horten’s historic jewelry collection in Geneva. It touches on the personal stories such collections can hold and the enduring allure of high jewelry for the world’s wealthiest collectors.
In Geneva, the largest and most valuable private jewelry collection is being auctioned. It belonged to the late Austrian billionaire Heidi Horten, who passed away in 2022. A record-breaking sale is expected. These collectors spend millions on jewelry today.
A jewelry box can tell the story of a life’s milestones. A new piece for every special occasion. Or simply because it’s Tuesday. That, at least, was the reason actor Richard Burton gave in 1968 for gifting Elizabeth Taylor the famous 33.91-carat diamond that was later named after her. It was part of her private jewelry collection, which fetched $115 million at an auction in 2011.
Next week, this record for the highest sum ever achieved at a jewelry auction could be surpassed. Until May 15, the private collection of the late Austrian billionaire Heidi Horten is being auctioned in Geneva by Christie’s. The collection of the widow of department store magnate Helmut Horten, who died in 1987, is considered the largest and most valuable private jewelry collection ever offered at auction. It comprises 700 jewels, from Bulgari to Van Cleef & Arpels, from a pearl once owned by Marie Antoinette to the 90.38-carat Briolette of India diamond, which legend says was in the possession of France’s Queen Eleanor of Aquitaine in the 12th century.
However, a shadow lies over the fortune from which Helmut Horten bought his wife the expensive jewelry. Horten profited from the Nazi “Aryanization” of Jewish property by purchasing department stores confiscated from Jews. Therefore, Christie’s intends to donate a portion of the proceeds to Holocaust research.
At the heart of the auction, however, is the brilliance of the collection. It is primarily Heidi Horten’s exquisite taste, says Rahul Kadakia, International Head of Jewelry at Christie’s, that makes her collection so coveted.
Not every passionate collector masters this art. Kim Kardashian, for example, prefers to adorn herself with jewels worn by strong personalities. The reality TV star bid on three bracelets belonging to Elizabeth Taylor in 2011. Also, in 2017, a Cartier watch formerly owned by ex-First Lady Jackie Kennedy Onassis. And just recently, the diamond and amethyst-set Attallah cross pendant that once belonged to Lady Di. A multi-million dollar collection that resembles a cabinet of curiosities more than a harmonious oeuvre.
Media mogul Oprah Winfrey also enjoys the sparkle of expensive stones. The value of her jewelry collection is estimated at $150 million. Yet the first self-made female billionaire in North America, who wore $40,000 David Morris chandelier earrings at the 2018 Golden Globe Awards, is also seen wearing $50 Jlani brand hoop earrings. Winfrey has a penchant for experimental designers and turns her passion into a virtue by lecturing on sustainability in the industry.
What motivates jewelry lovers to spend such enormous sums on jewelry? “Many private clients find it beautiful to have a unique piece on their finger,” says jewelry expert Lukas Biehler.
And of course, they are status symbols. Singer Beyoncé has an impressive collection with an estimated value of $350 million. Among the most unusual pieces is a 24-karat gold guitar set with emeralds worth $2.5 million. She has designed several precious pieces together with jewelry designer Lorraine Schwartz according to her own ideas.
But men also cultivate their jewelry boxes. That of golf legend Tiger Woods is said to be worth $290 million, containing several gifts from his former lovers. Mark Zuckerberg hoards jewels with an estimated value of $240 million but refrains from wearing them with his hoodie. Yet, a piece of jewelry only comes to life through wearing and increases in value thereby. Essentially, with the death of every jewelry queen, a total work of art is destroyed.