National Jeweler Network

Jewelry Auctions

Emerald, diamond pieces top Sotheby’s auction

December 12, 2013

This 61.35-carat emerald ring was the top lot of Sotheby’s Magnificent Jewels sale held Wednesday, garnering $4.6 million. The ring was from the “Property of a Distinguished Lady.”

Click through this gallery to see the highlights of Sotheby’s Magnificent Jewels sale.

New York--A 61.35-carat emerald set in a platinum and 18-karat gold ring sold for $4.6 million at Sotheby’s on Wednesday, more than triple its pre-sale high estimate.

An anonymous bidder bought the ring, paying $75,713 per carat. The ring’s square emerald-cut emerald is surrounded by marquise- and pear-shaped diamonds.

Overall, the Magnificent Jewels sale, held in New York, totaled $60.6 million, the highest-ever total for a jewelry sale at Sotheby’s New York. The previous record was $53.5 million, set in April.

The auction sold 82 percent by lot and 83 percent by value, with 15 pieces selling for more than $1 million.

Other notable lots include a 24.48-carat, D color VS1 emerald-cut diamond flanked by two 1-carat tapered baguette diamonds and set into a platinum ring, which sold for $3.3 million, exceeding its pre-sale high estimate of $2.5 million. It was purchased by a private collector.

Diamond necklaces were strong at the sale, among them a 16-inch necklace in platinum boasting 35 graduated round diamonds weighing a total of 88.88 carats. The piece realized $2.1 million.

Another necklace featuring 59 natural pearls graduating in size from 6.1 to 10.3 millimeters with a 2-carat marquise-shaped diamond clasp mounted in platinum sold for $1.9 million.

“This was a fantastic sale for those who love and appreciate jewelry as art. Not only was it defined by important stones that brought exceptional results, but also by iconic designs that spoke so vividly to the cultures and periods that inspired them,” said Lisa Hubbard, chairman of North and South America at Sotheby’s international jewelry division.

The full results of the Magnificent Jewels sale can be found on Sotheby’s website.