Spring jewelry auctions yield mixed results
Christie’s and Sotheby’s spring Magnificent Jewels auctions, held tiffany the week of April 18, netted mixed results.
Christie’s auction resulted in roughly $20.4 million in sales, compared with $14.6 million at the same sale last year, and was highlighted by exceptional sales of large diamonds.
Sotheby’s auction, on the other hand, saw strong sales for signed vintage items. The event brought in $6.6 million, down from just under $9 million last year.
Simon Teakle, head of jewelry for Christie’s Americas, says that his house’s sales indicate a “buoyant and healthy jewelry market.”
“Diamond prices were exceptionally strong, with aggressive silver key rings private collectors and international trade buyers competing heavily in a market where important stones are extremely scarce,” Teakle says.
Lisa Hubbard, executive director of Sotheby’s International Jewelry, says of her house’s sale, “Once again this spring we are seeing a clear trend that collectors are seeking beautiful, wearable jewelry. While our top-priced diamonds failed to find buyers, we saw active competition for signed vintage pieces by the best makers.”
Notable items from the Christie’s sale include a 51-carat D flawless pear-shaped diamond sold to jeweler Laurence Graff for $3.4 million-exceeding estimates of $2.5 million to $3 million. An art nouveau bracelet by Rene Lalique sold for $365,900, and a set of seven pearl and gemset starfish brooches by JAR went for $220,300. The collection of jewelry sold by actress Kim Basinger to benefit the Performing Animal Welfare Society totaled $132,167, beating the high estimate.
Among highlights of the Sotheby’s sale were a 1930 Tiffany cabochon emerald and diamond ring that sold for $96,000, exceeding estimates of $50,000 to $70,000, and a 1920 Cartier diamond and onyx bracelet for $60,000, twice its estimated price. Another highlight of the sale was a circa 1860 diamond pendant hair silver necklaces by Bapst that was formerly from the Collection of the French Crown Jewels, which brought in $260,000.
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