Editor’s Note
Sotheby’s inaugural jewelry auctions at its new global headquarters in New York have set a high bar, totaling nearly $44 million. This successful debut marks the auction house’s return to evening jewelry sales in the city after more than a decade.
Sotheby’s held its first two jewelry sales at the Breuer building last week, and they totaled nearly $44 million.
New York—Sotheby’s has concluded its inaugural jewelry auctions at the Breuer building, its new global headquarters, with the two-sale debut raking in $43.9 million.
The sales, held Dec. 9, marked the auction house’s first evening jewelry auction in New York in more than a decade.
A single-owner sale titled “A Legacy of Elegance: Jewels from an Exceptional Collection,” realized $13.9 million.
The collection, which Sotheby’s said was assembled over decades, comprised more than 60 pieces.
All of the lots found buyers and 88 percent of them surpassed their highest pre-sale estimates, Sotheby’s said.
The collection’s top lot was an antique ruby and diamond necklace by Boucheron, which sold within its estimate for $1.3 million.
A Suzanne Belperron bib necklace featuring topaz, morganite, aquamarine and diamond—one of more than 20 Belperron pieces in the collection—achieved $825,500, more than twice its highest pre-sale estimate.
This Suzanne Belperron sapphire and diamond necklace sold for $635,000, a little more than double its high estimate of $300,000.
Sotheby’s said “enthusiastic bidding” propelled Belperron’s chalcedony and amethyst cuff to $317,500, more than four times its lowest pre-sale estimate.
A pair of ruby and citrine earrings by the designer generated “frenzied bidding,” with a total of 26 bids.
The earrings sold for $63,500, blowing away their $10,000 to $15,000 estimate.
— Belperron President Nico Landrigan
Bidders also clamored for the 12 one-of-a-kind creations by JAR, Sotheby’s said, which collectively achieved $5.7 million.
A reversible pendant-brooch featuring pink topazes framed by pavé-set colored gemstones sold for $1 million, double its highest pre-sale estimate.
It was the second highest-grossing lot of the “A Legacy of Elegance” collection.
A pair of ruby and diamond earclips by JAR, designed as quatrefoils pavé-set with round rubies sold above its estimate for $698,500. One centers a diamond and the other, a ruby.
Also part of the collection was a René Boivin “Grenade” brooch that once belonged to jewelry collector Daisy Fellowes (1890-1962), a French socialite and heiress to the Singer sewing fortune.
It sold for $279,400 against an estimate of $40,000 to $60,000.
— Catharine Becket, Sotheby’s global head of high jewelry.
A High Jewelry auction followed the “A Legacy of Elegance” sale, garnering a total of $30.1 million, with 94 percent of lots finding buyers.
The top lot, a 3.48-carat fancy intense blue diamond, sold within its estimate for $2.6 million after three phone bidders competed for nearly three minutes, Sotheby’s said.
The “Jonker VI,” one of the 13 diamonds cut from the famous 726-carat Jonker rough discovered in South Africa in 1934, was the second highest-grossing lot of the high jewelry auction, selling for $2 million.
The “Jonker VI,” originally a 24.91-carat emerald-cut diamond, was recut to 22.85 carats, Sotheby’s said.
Other highlights included a natural pearl necklace finished with a clasp featuring a 3.78-carat marquise-shaped fancy blue diamond that sold above its estimate for $1.3 million.
A 3.27-carat fancy vivid orangy pink diamond—which features a sunset-like hue—sold within estimate for $920,750, while an 18.18-carat fancy intense yellow diamond ring (est. $200,000 to $300,000) soared to $698,500.
From the collection of the du Pont family, this Raymond Yard ring featuring a 5.43-carat octagonal step-cut Colombian emerald sold for $939,800, nearly four times its highest pre-sale estimate.