Editor’s Note
This article highlights a standout moment from Christie’s recent jewelry auction, where a Paraiba tourmaline necklace set a world record. The piece led a strong sale that underscores the growing prominence of colored gemstones in the high-end market.
Record-Breaking Paraiba TourmalineNEW YORK — Christie’s Luxury Week continued with its Magnificent Jewels sale on 10 December at Rockefeller Center. The sale achieved a total of $46.5 million and was 95% sold by lot.
Tourmaline proved to be the surprise star of the sale, achieving the highest prices for the day including a world record price for a Paraiba tourmaline. Leading the results was a magnificent Tiffany & Co. Tourmaline and Diamond Necklace from the Collection of Max and Cecile Draime, which, after spirited bidding in the room, online, and on the phones, hammered at $4,223,000—soaring to ten times its low estimate. Immediately following, a matching Pair of Fine Tiffany & Co. Tourmaline and Diamond Earrings, also from the Draime Collection, realized $1,270,000, likewise exceeding ten times their estimate. Together, these exceptional jewels underscored the extraordinary demand for rare tourmaline creations and marked a defining moment in the sale.
Further collection highlights included Property of Mr. and Mrs. John D. Rockefeller 3rd, from the Collection of Sandra Ferry Rockefeller. The top lot of the group was the Rockefeller Kashmir, a rare Cartier Art Deco Sugarloaf Cabochon Sapphire and Diamond Ring of 17.66 carats, which realized $2,637,000. In total, the collection achieved $3,133,570, with all four lots selling above their high estimates. A Raymond Yard Pair of Multi-Gem and Diamond Parrot Clip-Brooches realized $76,200, the Cartier Art Deco Emerald and Diamond Bracelet realized $406,400, and the Cartier Diamond and Colored Diamond Wristwatch realized $13,970.
Sapphires continued to perform exceptionally well at auction, with several standout results underscoring their strength in the market. A Pair of Exceptional Antique Sapphire and Diamond Earrings achieved $3,064,000 against a low estimate of $1,500,000, while an Impressive Sapphire and Diamond Ring realized $1,778,000, far exceeding its low estimate of $500,000. Additionally, a Sapphire and Diamond Ring from Elegant Jewels from the Collection of Maureen Dwyer Smith sold for $304,800, surpassing its low estimate of $40,000. These results highlight the enduring appeal and demand for rare sapphires among collectors worldwide.
Jewelry sales will continue online with Splendor & Style: Jewelry from the Collection of a Distinguished Lady, a single owner sale open until 12 December.