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3.5-Carat Blue Diamond Fetches Record $6.7 Million

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Sotheby’s held three jewelry auctions Wednesday and Thursday selling more than 400 lots that fetched more than $34 million with 83.3% of all lots sold. It was a wide and varied offering of diamonds, colored gems and signed jewels, but the star of the two days was a 3.47-carat fancy intense blue diamond that sold for $6.66 million, smashing its $2.5 million high estimate.

The price for the cut-cornered rectangular step-cut gem set a new world auction record price-per-carat for any fancy intense blue diamond (more than $1.9 million per-carat). The previous record was set a day earlier at Christie's New York Magnificent Jewels sale.

Sotheby's

The auction of 137 lots totaled more than $26.1 million. The blue diamond towered over the remaining top lots of the sale, which consisted of colorless diamonds and emeralds, including two Tiffany & Co. signed jewels. Among them:

Sotheby's

* A diamond bracelet designed as a line of alternating cut-cornered rectangular modified brilliant-cut diamonds and emerald-cut diamonds weighing a total of 72.96 carats that sold for nearly $1.4 million, within estimates.

Sotheby's

* A 13.70-carat emerald-cut diamond ring by Tiffany & Co., of D color and VS1 clarity that sold for $1.15 million ($84,307 per carat), well above its $800,000 high estimate.

Sotheby's

* A 6.33-carat unmounted emerald-cut emerald from Colombia that sold for nearly $1.1 million ($172,986 per carat), nearly doubling its $600,000 high estimate.

* An 11.24-carat cushion-cut Kashmir sapphire mounted on a diamond ring that sold for $999,000 ($88,879 per carat), doubling its high estimate.

Sotheby's

* A diamond and emerald necklace by Tiffany & Co. consisting of 16 marquise-shaped diamonds alternating with 16 step-cut emeralds that sold for $855,000, within estimates. It was from the estate of philanthropist Betsey Cushing Whitney. The necklace was last placed at auction 20 years ago.

Sotheby’s Magnificent Jewels auction was also notable for two fancy pink diamonds and a colorless diamond that didn’t sell. They are:

Sotheby's

* A 7-carat square-cut fancy intense pink diamond mounted on a ring with an estimate of $4.2 million - $5.2 million.

Sotheby's

* A necklace centered with a 33.25-carat diamond pendant topped by a 1-carat marquise-shaped diamond with an estimate of $4 million - $5 million.

* A 7.37-carat emerald-cut fancy intense orangy pink diamond mounted on a ring accented by two cut-cornered rectangular modified brilliant-cut near colorless diamonds, further embellished with round near colorless diamonds and diamonds of pink hue with an estimate of $3 million - $5 million.

Sotheby’s Fred Leighton Sale

Prior to the Magnificent Jewels sale, jewels, gems and art objects from the personal collection of celebrated estate jeweler, Fred Leighton, were placed at auction by Sotheby’s. A total of 229 lots fetched $2.8 million with 84% of the lots sold. From the total, $1.6 million consisted of vintage jewels.

Leighton, who died in August 2017, was known for providing jewels for the most famous celebrities at the most important red carpet events. The collection represented the last group of objects and jewels to be personally curated by Leighton and reflects his extensive travels around the world.

Sotheby's

The top lot was a gold, turquoise and diamond grande and petite repeating desk clock with alarm by Cartier that sold for $275,000—more than three times its high estimate of $80,000.

This was followed by large pair of 20th century Italian cut- and beaded-glass Campana urns on mirrored pedestals fitted as lamps that sold for $125,000, well above its $100,000 high estimate.

Sotheby's

The top jewelry item was a diamond necklace-bracelet combination by Parisian jeweler, Chaumet. The jewel featured geometric links set with old European, single-cut and baguette diamonds. It is detachable into five segments allowing it to be worn in a variety of ways. It sold for $112,500, within estimates.

This was followed by a ruby and diamond necklace by Russian-French jeweler, Marchak. It is composed of braided gold ropework, interspersed with baguette diamonds, embellished with carved rubies and floral motifs set with ruby beads and round and baguette diamonds. It sold for $100,000, above its $80,000 high estimate.

Sotheby’s Fine Jewels Sale

Sotheby’s ended its two days of jewelry auctions with its Fine Jewelry sale on Thursday. The auction totaled $5.8 million with 87% of the lots sold.

Sotheby's

The top lot of the sale was a Cartier ring centered with 52.89-carat cushion-cut sapphire surrounded by round and marquise-shaped diamonds. The jewel attracted no fewer than 18 bidders before selling for $879,000, totally smashing its $150,000 high estimate and achieving the highest price ever at a Sotheby’s Fine Jewels auctions in New York.

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