Sunday, December 9, 2012

Sotheby's NY Magnificent Jewels Nets $49M

Sotheby's sale of Magnificent Jewels held in New York achieved $49.2 million with Laurence ‎Graff winning the top three lots. The sale was 78 percent sold by lot and 84 percent sold by ‎value. Diamonds featured in nine of the top ten lots sold.‎

Sotheby's noted that at least six bidders bid for the top lot (pictured), a 6.54 carat, fancy ‎intense pink, internally flawless diamond ring by Oscar Heyman & Brothers that belonged to ‎Evelyn Lauder, which sold for $8.6 million or $1,313,144 per carat. A 52.73 carat, fancy vivid ‎yellow, VVS1 diamond ring achieved $3.9 million or $73,781 per carat while a 22.16 carat D, ‎potentially flawless type IIa diamond ring by Graff sold for $3.4 million or $155,347 per carat.‎

A 33.84 carat, D color, VVS2 diamond ring achieved $2.9 million, or $88,489 per carat, while a ‎heart shaped, 7.14 carat, fancy intense yellow,  VS1 diamond pendant necklace by Van Cleef & ‎Arpels, which Estée Lauder purchased directly from the Duchess of Windsor in the 1970's, sold ‎for $2.5 million, or $54,020 per carat. An important 14.12 carat, D color, potentially flawless, ‎type IIa diamond ring by Bulgari sold for $1.9 million, or $140,488 per carat while a 29.96 carat, ‎fancy pinkish brown, VVS1 garnered $1.4 million, or $52,911 per carat.‎

Proceeds from the sale will benefit The Breast Cancer Research Foundation, founded by ‎Evelyn Lauder in 1993.‎

‎“On behalf of the Lauder family, we are very pleased that the beautiful unique pieces owned ‎by my mother Estée and my dear wife Evelyn have found new homes, while at the same time ‎raising significant funds for The Breast Cancer Research Foundation," said Leonard A. Lauder, ‎chairman emeritus of the Estée Lauder Companies and acting chairman of The Breast Cancer ‎Research Foundation®. "My sincere gratitude to Sotheby’s and to those who participated in ‎this auction. Our hope is that one day this disease will be a thing of the past and with the ‎money that was raised tonight, we are one step closer to achieving our goal.”‎

Sotheby's also sold jewels from the collection of Mrs Charles Wrightsman. The sale of the ‎collection totaled $15.5 million, exceeding its $9 million high sale estimate and was 95 percent ‎sold by lot.‎

The top lot from Mrs Wrightsman's jewels was a natural Belle Epoque pearl and diamond ‎corsage ornament, inspired by eastern design motifs featuring three Golconda-type ‎diamonds, weighing 8.67 carats, 8.78 carats, and 9.59 carats, which sold for $2 million after ‎heated competition between seven bidders. A rare natural gray pearl and diamond brooch set ‎a new auction record for a single natural gray pearl at $1,874,500, more than triple its high ‎‎$600,000 pre-sale estimate.‎

The combined sale of jewelry from the collections of Estée Lauder, Evelyn H. Lauder and Mrs. ‎Charles Wrightsman achieved $64.8 million and exceeded overall pre-sale estimate of $63.3 ‎million. This figure raises the 2012 total for Sotheby’s worldwide jewelry auctions to $450.5 ‎million, a record high for the company’s sales in this category and also marks the highest-ever ‎total for a day of jewelry sales at Sotheby’s New York.   ‎

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