The market for fine jewellery appears buoyant if the auction at Bonhams & Goodman last night is anything to go by. Over 500 people attended the pre-auction viewing, 300 registered to bid and many lots far exceeded expectations on the night.

Highlights included Lot 199, an important certified un-heat treated large pink sapphire, which sold for $72,000 - almost double the high end estimate of $33,000-38,000. It was bought by an absentee bidder despite strong competition from bidders in the saleroom.

There was also competitive bidding on Lot 127, an 18ct gold fancy yellow diamond bracelet. It eventually sold to a telephone bidder for an astounding $48,000. Its pre-sale estimate was $15,000-18,000.

There was a lot of pre-auction interest in lot 70 (pictured), a 14ct gold diamond, ruby and opal frog brooch. The interest converted to an amazing sale when it sold for $3,960 against an estimate of $900-1,200.

Fine watches also sold well. Lot 61, a fine Patek Phillipe wrist watch sold for $15,000 and lot 59, a Rolex Oyster Perpetual diamond set wristwatch fetched $6,240.

Isabelle Quinn, Head of Jewellery, Sydney, commented, “I am thrilled with the result. It is a great start to the year. I’m confident we will continue to deliver strong results throughout 2008 based on the results of last night”.

www.bonhamsandgoodman.com.au

Posted: 04|8|08 at 2:35 pm. Filed under: Press Release.