Sotheby’s Sets Records

Sotheby's Magnificent Jewels sale on Dec. 4, 2007, generated $49.8 million, 32 percent more than the high estimate of $37.4 million and the highest total ever for a jewelry sale at Sotheby's New York. "We are thrilled," says Gary Schuler, senior vice president, director of jewelry, for the New York auction house. This is good news for retailers. It means money is still available for big diamonds, big sapphires, and signed pieces of jewelry. It also alerts jewelers to take their international clients into account. At Sotheby's, the value of the dollar helped bring in a house full of European, Middle Eastern, and Far Eastern jewelry buyers. "Participation was worldwide," says Schuler. "Amazing prices were paid, not only for white diamonds, but for great works of art." Sotheby's catalog was filled with gems and jewelry from Harry Winston, Cartier, Van Cleef & Arpels, David Webb, and o

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