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Sotheby’s New York Magnificent Jewels Auction Fetches $38.4 Million


A dazzling array of jewels from famous brands and celebrities fetched $38.4 million at Sotheby’s Magnificent Jewels auction in New York on Monday, setting new records for some of the rarest gems in the world.

The star of the show was a 133.03-carat Fancy Vivid Yellow diamond, the largest of its kind ever sold at auction, which went for $5.5 million to an anonymous buyer. The diamond, which has a radiant cut and a pure yellow hue, was estimated to sell for $4 to $5 million.

Another highlight was a stunning diamond necklace with 120 pear-shaped diamonds, totalling 127.45 carats, which sold for $4.4 million, above its $4 million estimate. The necklace features two large diamonds of 28.77 carats and 28.70 carats each, both graded as D colour and internally flawless.


Other notable diamonds included a 7.37-carat Fancy Intense Orangy-Pink diamond ring, which fetched $1.7 million, and a ring of toi et moi design (pictured above), set with a 3.68-carat Fancy Gray-Violet diamond and a 3.92-carat D colour diamond, which achieved $1.1 million.

The auction also featured jewels from the collections of Hollywood legends, such as Mr. and Mrs. Richard “Red” Skelton, Barbara and Frank Sinatra, and Mr. and Mrs. Tony Randall. All of them were sold, generating a total of $4.2 million.

The most surprising result came from a rare Burmese pink sapphire and diamond ring, formerly owned by comedian Red Skelton and his wife Lothian. The ring, which has a cushion-shaped pink sapphire of 14.83 carats, surrounded by round diamonds, soared to $1.1 million, seven times its high estimate of $150,000. The ring was described by Quig Bruning, Head of Sotheby’s Jewels, America & EMEA, as having “a rich, sumptuous colour that took my breath away”.

Another jewel from the Skelton collection, a ruby and diamond bracelet by Harry Winston, was re-acquired by the famous jeweler for $393,700, more than double its high estimate of $250,000. The bracelet has 66 oval rubies, totaling 71.48 carats, and 264 round diamonds, totaling 16.34 carats.

The Sinatra collection was led by a 16.19-carat diamond ring, which sold for $406,400, while the Randall collection was topped by a gold, sapphire, emerald and diamond bracelet by Jean Schlumberger, which fetched $127,000, nearly $100,000 above its high estimate.

Bruning said he was “extremely proud” of the auction results, which showed “exceptional value and broad interest in truly rare jewels, especially those with esteemed provenance”. He added that he looked forward to the Fine Jewels online sale on Thursday, which will offer 21 more pieces from the Skelton collection, among other jewels.

source: www.gjepc.org