61.35 Carat Colombian Emerald Fetches $4.6 Million at Sotheby’s



The jewelry auction market’s hot streak continued on Dec. 11, with a Sotheby’s auction that marked the highest total ever for a Sotheby’s New York jewelry sale.

The auction was highlighted by the sale of a platinum, gold, and diamond ring with a 61.35 carat Colombian emerald center stone for $4.6 million.

Five Egyptian revival jewels, produced by Cartier in the 1920s following the discovery of King Tutankhamun’s tomb, together brought $2.3 million, more than double their $940,000 high estimate. The collection’s highlight—a rare jeweled brooch—sold for $1.025 million, far more than its original $300,000 to $500,000 estimate.

The Cartier Egyptian rare-jeweled brooch

All in the all, the auction raised a record $60.5 million, with 82.1 percent sold by lot. This beats the previous all-time high for a Sotheby’s New York jewelry sale—$53.4 million, achieved in April 2013.

“This was a fantastic sale for those who love and appreciate jewelry as art,” said Lisa Hubbard, chairman, North & South America, Sotheby’s International Jewelry Division, in a statement.

The figure raises the 2013 results for Sotheby’s worldwide jewelry auctions to a record $600 million—a 30 percent increase over the previous year, which was itself a record total.

The auction comes a day after the 52 carat D color internally flawless Golconda diamond garnered $10.9 million at a sale at Christie’s.

 

JCK News Director