NEW YORK, NY.- Sotheby’s sale of Magnificent Jewels concluded this week, achieving a total of $30 million, with particularly strong demand among collectors for rare colored gemstones, top quality white and colored diamonds, as well as signed jewels from Graff, Van Cleef & Arpels, and Boivin amongst others. The sale saw lively bidding in the room, on the telephone, online and by absentee bidders, as hundreds registered to participate in today’s auction.
Facts and Figures at a Glance
• Sale totaled $30 million, surpassing pre-sale estimate of $19.8 - 29.5 million 92% of lots sold
• 70% of lots sold above their pre-sale estimates Participants came from more than 35 countries Nearly half of lots sold online
Speaking after the sale, Quig Bruning, Head of Sotheby’s Jewels, Americas & EMEA, said: “Following the success of recent sales in Paris and Geneva this Fall, we are incredibly proud of today’s strong results, which further underscore the market’s growing confidence and sets a promising tone for our sales in the year ahead. The enthusiasm from international collectors translated into strong bidding across the board—in clear recognition of the rare and world-class pieces we offered, including the remarkable ruby, as well as the thriving white diamond market.”
Two bidders on the phone and one in the room competed for an exceptional and immeasurably rare 10.33 carat Burmese ruby and diamond ring. The beautiful cushion cut and untreated ruby was the star lot of today’s auction, achieving a final price of $5.5 million – more than doubling its high estimate – after a six- minute bidding battle (est. $1 - 2 million).
Alexandrites Steal the Show
The market for Alexandrites has been experiencing a notable surge recently, with these stones representing the finest and largest examples we've ever encountered at auction. The 16.53-carat ring, in particular, is a truly exquisite gem, and its record breaking price is a well-deserved reflection of its exceptional quality. It’s incredibly exciting to witness Alexandrites reaching such remarkable new heights in the market and equally thrilling to see the growing recognition among collectors, who are now embracing these gemstones as not only rare and beautiful but on par with the legendary sapphires, emeralds, and rubies in terms of desirability and value. ---Anna Ruzhnikov, Sotheby’s Specialist, Head of Magnificent Jewels
Today’s sale was distinguished by three Alexandrites of the finest gem-quality, which achieved a combined total of $3.3 million. A new auction record was set today for any Alexandrite, when an exceptional 16.53 carat oval shaped ring was purchased by a client on the phone for $1.9 million – nearly 5x its estimate of $400,000 - 600,000.
A magnificent pair of Alexandrite and Diamond earrings also doubled their pre-sale estimate as two bidders on the phone drove the final price to $1.2 million over the course of four minutes (est. $200,000 - 300,000). Weighing 7.69 and 7.38 carats, the earrings are decorated with round and baguette diamonds.
An oval-shaped Alexandrite of 40.52 carats also captivated bidders in the room, online and on the phones, eventually selling to an online bidder for $216,000 (est. $150,000- 350,000).
Often described as “emerald by day, ruby by night,” Alexandrites exhibit a striking shift from green in daylight to reddish-purple under incandescent light, a phenomenon caused by their complex crystal structure. Today, the finest gem-quality Alexandrites primarily originate from Brazil, Ceylon, and East Africa, with Brazil and Ceylon being the most esteemed sources. Regardless of their origin, top-quality alexandrites —such as those offered today—are distinguished by their exceptional color change and strong saturation.
Exceptional Colored Diamonds
The enduring allure of colored diamonds was echoed in today’s salesroom. Leading the group was the 7- carat Fancy Intense Purplish Pink Diamond which sold for $3.4 million after being chased by two bidders in the room and over the phones for nearly four minutes (est. $3,250,000 - 4,250,000).
A charming marquise-shaped Fancy Grayish Blue diamond weighing 3.32 carats also captivated bidders to reach $720,000 (est. $400,000 - 600,000).
Elsewhere, an attractive 5.02-carat Fancy Orangy Pink Diamond and Diamond ring sold to an online bidder for $684,000 (est. 450,000 - 650,000), while a cushion-cut Fancy Vivid Orange diamond weighing 1.00 carat and framed by pear-shaped diamonds achieved $540,000 (est. $450,000 - 550,000).
A Legacy of Beauty: The Collection of Sydell Miller
A strikingly varied and rich selection of 22 delightful pieces from the collection of trailblazing beauty entrepreneur and philanthropist, Sydell Miller, captured the attention of international private collectors. The collection was 100% sold, together realizing a total of $6 million (est. 3.4 - 5 million). As a pioneering leader in the beauty industry, Sydell exemplified the power of self-determination and creativity. This sense of self extended beyond her professional achievements and profoundly influenced her approach to collecting jewelry. Her passion for jewelry transcended adornment; it became a celebration of her identity and each piece she acquired reflected her daring spirit, confidence and individuality. Among the highlights:
• A stunning diamond necklace by Graff composed of graduated pear-shaped diamonds, with a detachable central drop set with a pear-shaped diamond weighing 18.00 carats - all of D color – achieved $1.8 million (est. 1 - 1.5 million).
• A reflection of her love for bold, statement jewelry is her impressive 21.46-carat diamond ring by Graff, which was crafted after years of collaboration with the house to find the ideal stone. Her preference for an old-cut diamond resulted in the breathtaking emerald-cut diamond ring, which was purchased for $1.8 million after being chased by nine bidders – the most of any lot in the sale (est. $800,000 - 1.2 million).
• Sydell’s collection of artistic piece by Hemmerle also captivated bidders today, as a pair of cultured pearl and diamond earclips of girandole design sold for $96,000 after a prolonged bidding battle between three phone bidders and two online bidders (est. $30,000 - 50,000)
Additional Further Standouts
• Enthusiastic bidding was witnessed for a fine group of ten unmounted sapphires, with six bidders driving the final price to $912,000 (est. $600,000 - 800,000). The ten emerald and square emerald- cut Kashmir sapphires weigh between 1.55 - 3.55 carats.
• Two magnificent jewels from the collection of socialite Millicent Rogers soared above their high estimates, demonstrating continued demand for pieces from the great style icons of the twentieth century. A pair of ruby and sapphire earclips by Suzanne Belperron realized $50,400 (est. $8,000 - 12,000) while an exquisite ruby and diamond brooch by René Boivin consigned directly from her family sold for $456,000 (est. $80,000 - 120,000).
• A beautiful 11.86 carat emerald-cut D color diamond ring by Van Cleef and Arpels soared to $810,000 – surpassing its pre-sale high estimate of $400,000 – after a three-way bidding battle on the phone and online.
• A rare pair of earclips by Salvador Dalí that once belonged to Andy Warhol sold for $84,000 (est. $60,000 - 80,000). From 1941 to 1970 Dalí created designs for 39 jewels in precious metal and gemstones. Shaped as asymmetrical hearts, with the borders clustered with round rubies, the earclips have been exhibited in museums around the world including in Barcelona, Stockholm, Rotterdam and London. A brooch by Dalí also sold today for $90,000 (est. $80,000 - 120,000).
