Magnificent Diamond Ring sells as top lot at Christie’s

Christie’s held its Magnificent Jewels, New York on December 8th, thereby concluding a significant and robust 2016 global jewel auction season, establishing the auction house as the world’s leading jewelry auctioneer for the 23rd year in a row.

Widespread international interest, competitive online bidding and strong prices achieved for colored gemstones and longstanding design houses at the sale.

The top lot in the sale was a Magnificent Diamond Ring, which realized $5,567,500. The ring is set with a rectangular-cut D color potentially IF diamond of 51.35 carats. Strong results were achieved above estimate for jewels from The Collection of Betsy Bloomingdale, which inspired competitive bidding for her most coveted signed pieces, including a Harry Winston diamond cluster necklace, a ruby bead and diamond tassel necklace and a pair of gold and diamond ear pendants, by Van Cleef & Arpels. In total, 12 lots realized over $4,000,000. Property from the Blair Family Collection sold 100% for a total of $1.8m and stellar results were further achieved from property sold on behalf of a Collector in Rancho Santa Fe, the Estate of Sylvia Olnick, and the Estate of Anne Lichtblau.

The 250th Anniversary selection, estimated at $580,000, sold 100% for over $1,000,000 with jewels from the Di Portanova collection (October 2000) and Elizabeth Taylor (December 2011) amongst others.

Rahul Kadakia, Christie’s International Head of Jewelery: “In celebration of Christie’s 250 years in business, we are proud to have sold numerous important estates and magnificent gemstones on the very anniversary of the day when James Christie our Founder sold his first jewel. As the auctioneers of choice for magnificent jewelry we look forward to continuing this legacy for the next 250 years.”