NEW YORK, NY.- Sothebys
set a new auction record this afternoon for any white diamond sold in the Americas when an exceptional pear-shaped diamond of nearly 75 carats achieved $14,165,000 (est. $9/12 million). Five bidders vied for the stone, which represents one of very few pear-shaped diamonds of D color over 50 carats to be auctioned in recent decades. The Magnificent Jewels sale brought $53,490,938 in total, marking a new record sum for a spring auction of jewelry at Sothebys New York, and was a strong 82.4% sold by lot.
Jewels from prominent private collections performed remarkably throughout the day, led by a group of six pieces descended through the family of legendary financier and railroad magnate Jay Gould. The vintage jewels sparked intense competition, soaring to a combined $7,905,250 that more than doubled their overall high estimate of $3 million. The group was led by an Emerald and Diamond Brooch centered by a 22.48 carat Classic Colombian emerald that brought $2,909,000 nearly five times its high estimate of $600,000.
Lisa Hubbard, Chairman, North & South America, Sothebys International Jewelry Division, commented: The truly exceptional 74.79 carat stone was a thrill to auction, and exemplifies the strength of the market for white diamonds over the last decade it was acquired by the present owner in 2001 for $4.3 million, and today sold for a record $14.2 million. We were thrilled to see pieces from the Gould family join the ranks of magnificent private collections that we have had the privilege to offer at Sothebys. This is what collectors come to auction to see and experience: wonderful period pieces that are fresh to the market, and set with jewels of outstanding quality. In addition, signed pieces and iconic styles were led by an incredibly rare example of Cartiers Tutti-Frutti bracelets, which closed the sale with an incredible $1.4 million result.