GENEVA.- After weeks of growing anticipation, Sotheby’s Royal and Noble’s top lot, a rare and highly important 18th century diamond necklace, formerly in the collection of the Marquess of Anglesey, has created a sensation by selling for 4,260,000 CHF / 4,837,060 USD against an estimate of 1,600,000 - 2,200,000 CHF, so more than twice its low estimate. In a packed auction room, seven would-be buyers entered a fierce bidding battle that lasted over seven tensed minutes. The anonymous winning bidder is now in possession of perhaps one of the most talked about necklaces of the year – an extraordinary piece of jewellery history emerging miraculously intact from an important private Asian collection, which made its first public appearance in fifty years when it was unveiled by Sotheby’s in London earlier in September.

This spectacular antique jewel is an incredible survivor of history boasting 500 diamonds and weighing over 300 carats of likely Golconda diamonds from the legendary Golconda mines in India. A stunning piece of jewellery from the Georgian era, composed of three rows of diamonds finished with a diamond tassel at each end, such an important and historic antique jewel could only have been created for royalty or a high-ranking aristocrat at one of the glittering courts of the ancient régime – most likely the French or English court. Its precise origin story is not recorded, and existing evidence points to several possibilities, one of which being the Affair of the Necklace and its diamonds, some of which may have been used in the necklace sold today.

It is known however that the diamond jewel belonged to the Marquesses of Anglesey, a leading Anglo-Welsh aristocratic family with close ties to the British Royal family in the early 20th century. In 1937, Marjorie Paget, Marchioness of Anglesey (eldest daughter of Henry Manners, 8th Duke of Rutland), wore the jewel to the coronation of King George VI, together with the famous Anglesey tiara. She was immortalised wearing her coronation robes and diamond jewel by the renowned society photographer Cecil Beaton. In 1953, her daughter-in-law attended the coronation of Queen Elizabeth II wearing the same ensemble of heirloom jewels. The seventh Marquess of Anglesey parted with the piece around the 1960s. In 1976, it was exhibited in the Bicentennial Exhibition at the American Museum of Natural History, before being acquired by an important private collector where it has remained ever since.

“The extraordinary results of today’s sale represent Sotheby’s Royal and Noble Jewels sales at their apex. With yet another white glove auction, these sales demonstrate the lasting power of provenance. They also show the power of the Sotheby's Worldwide Jewellery team, the only one dedicated to enshrining the legacy of these important collections.

Meticulously collected over generations, A Tsar's Treasure provided an intimate glimpse into one of Central Europe's most important royal families, and one of the greatest jewellery collectors of the 19th and 20th centuries.

While there were innumerable results worth celebrating, as a career highlight, the Anglesey Jewel stands sans pareil. From the moment we laid eyes on it, our entire team was transfixed by its beauty, its history, and its timelessness. Travelling with it around the world, the awe it inspired was universal. The electricity in the sales room was palpable, and it will be one of my fondest memories to have been on the phone, helping to find its new home. -- Andres White Correal, Chairman Jewellery Europe and Middle East, Head of Noble Jewels

This edition of Sotheby’s Royal & Noble sale was the first to includes lots from various owners, alongside the single owner sale A Tsar’s Treasure: Ferdinand of Bulgaria (1861-1948), one of the most important collections of royal and noble jewels from the courts of central Europe ever to come to auction. This prestigious single owner sale continues the story of the highly successful single owner sale ‘Vienna 1900: An Imperial and Royal Collection’, held at the Mandarin Oriental Hotel in Geneva on 6 and 7 November 2023. With 114 lots, spanning nearly a century in the history of the illustrious family of Tsar Ferdinand of Saxe-Cobourg-Gotha, this collection is a magnificent testimony to Tsar Ferdinand’s exquisite taste, nurtured by his mother, Princess Clementine of Orleans, daughter of the last French King Louis Philippe 1er – herself an avid jewellery collector.

Earlier in the day the Magnificent Jewels Sale witnessed strong bidding throughout, with many lots achieving multiples of their high estimates. The sale was dominated by beautiful, mostly vintage jewels from private collections, many appearing for the first time at auction. The highly curated sale primarily featured a treasure trove of iconic and original creations by the most sought-after makers such as Cartier, Van Cleef & Arpels, Tiffany, Bulgari and JAR among many others, as well as a selection of spectacular diamonds.

“We are incredibly proud of the results of achieved for our carefully curated Magnificent Jewels sale today in Geneva. The sale showed confidence in the market for both white and coloured diamonds. Pink diamonds performed particularly well, with the top lot of the sale being a Fancy Orangy Pink diamond ring weighing 12.52 carats, selling for 2,800,000 CHF, over five times its low estimate. We saw strength in coloured gemstones too, with some spectacular results for sapphires including an attractive sapphire and diamond bangle by Van Cleef & Arpels which almost doubled its low estimate to achieve 612,000 CHF. We were pleased to see natural pearls maintaining their appeal with all our lots selling handsomely. Similarly, signed jewels were also well represented in the sale, and we achieved strong results for all pieces, from the art deco period to contemporary designers such as JAR. We saw fantastic results for highlights from the stunning single owner collection of Archaeological Revival Jewels, demonstrating that museum quality jewels really do have a place in contemporary collections. Further property from this remarkable collection is set to be sold in our Important Jewels sale in Geneva (closing on Friday 15 November) and London Fine Jewels sale (15-27 November).” --Jessica Wyndham, Head of Magnificent Jewels, Sotheby’s Geneva

Altogether the sales achieved combined total of 27, 039,000 CHF / 30,702,010 USD, fuelled by over 330 bidders from all over the world – with a marked predominance of bidders from Europe followed by North America and Asia. – who were mostly under 50 years-olds (60%) with 28% of all bidders being under 40. Eventually, the vast majority of the sales were secured by private buyers based in Europe (just 50%) followed by the USA and Asia (23% and 17% respectively). Across the sales, over 96% of all lots sold achieved final bids within their low and high estimates or above, with a staggering 83% of all Royal & Noble sale lots sailing past their high estimate – many of them realizing multiple times their high estimate.