New York, NY – April 17, 2008 Sotheby’s spring sale of Magnificent Jewels in New York achieved $26,343,850 (est. $21/28 million*). Leading the sale today was a stunning collection of Van Cleef & Arpels jewels from the Estate of Rita K. Hillman, a distinguished New York philanthropist and renowned collector of fine art, which totaled $4,945,825 (est. $2.8/4 million) and the nine lots were 100% sold. The centerpiece of the Hillman jewels was an extraordinary sautoir necklace, offered as two separate lots. The Natural Pearl and Diamond Necklace, Van Cleef & Arpels, designed as a long chain collet-set with over 60 carats of diamonds which suspends two natural pearl drops, brought $1,329,000 (lot 406, est. $800,000/1.2 million) after several minutes of competitive bidding. The necklace may also be worn with a spectacular old European-cut Fancy Intense Yellow Diamond Pendant weighing 39.34 carats, which sold to a different bidder for $1,833,000 (lot 407, est. $800,000/1.2 million). Also offered from the Hillman Estate was an important Diamond Ring, Van Cleef & Arpels, 1957, set with a round diamond weighing 17.00 carats of H color and VVS1 clarity, which sold for $1,301,000 (lot 408, est. $900,000/1.2 million).
Lisa Hubbard, Chairman, International Jewelry, North and South America, said, “It has been a privilege for Sotheby’s to exhibit the jewels from the Estate of Rita K. Hillman all around the world. These pieces garnered interest in Asia, Europe and throughout the United States. We are so delighted that the results of the sale today are going to help to implement the plans that this renowned philanthropist set forth in her will. ”
Also being offered for a philanthropic cause, the top selling individual lot in today’s sale was a magnificent Diamond Ring, Harry Winston, The Property of a Lady, Sold to Benefit a Charitable Foundation, which realized $3,625,000 (lot 381, est. $1.8/2.5 million, pictured on page 1). This ring features an emerald-cut diamond weighing 24.42 carats, mounted in platinum, and flanked by tapered baguette diamonds. It is of exceptional D color and potentially flawless clarity and falls into the rare category of type 11a, which includes the most chemically pure and colorless stones. Also demonstrating a robust diamond market was an impressive Pair of Diamond Earrings, both F color VS1 clarity, weighing 10.05 and 10.03 carats, which achieved $1,777,000 (lot 369, est. $1.5/2 million).
Another star lot of today’s sale was by Van Cleef & Arpels, a Diamond Necklace from an American Private Collector, which brought $577,000 after spirited bidding (lot 368, est. $150/200,000). This flexible, slightly graduated foliate motif necklace is set with 159 pear-shaped diamonds and 93 baguette diamonds weighing approximately 103.00 carats, mounted in platinum.
A selection of exceptional colored diamonds offered today was highlighted by a Fancy Intense Yellow Diamond Ring, circa 1930, Property from a Delaware Private Collector, which more than doubled its high estimate when it fetched $361,000 after several minutes of animated bidding (lot 199, est. $100/125,000). The emerald-cut fancy intense yellow diamond, weighing 8.73 carats, is flanked by four baguette and bullet-cut diamonds and two square-cut emeralds, mounted in platinum.
Beautiful jewels, particularly signed pieces, were highly sought after at today’s auction by bidders looking for rare and wonderful pieces. A selection of artistic jeweled brooches in this sale was highlighted by a Sapphire and Diamond Ballerina Brooch, Van Cleef & Arpels, New York, 1951, The Property of a Lady, Sold to benefit a Charitable Foundation, which achieved $289,000 (lot 380, est. $75/100,000). The figure is set centrally with one cushion-shaped sapphire, weighing approximately 3.75 carats and mounted in platinum. An 18 Karat Gold, Moonstone, Sapphire and Diamond “La Meduse” Brooch, Schlumberger for Tiffany & Company, France, Property of a Private Collector, sold for $121,000 (lot 228, est. $60/80,000). The unusual and stylized jellyfish brooch, decorated with a domed cluster of round cabochon moonstones, is interspersed with small round diamonds above curling tentacles of textured gold and set with baguette sapphires and articulated tendrils of polished gold. Finally, a unique contemporary piece by Michele Della Valle, a Ruby and Diamond Geranium Brooch, brought $79,000 (lot 319, est. $50/70,000). The three dimensional flower is realistically modeled in titanium and 18 karat white gold as a geranium, pavé set with round rubies and small round diamonds on the petals, buds and stem.
Sotheby’s looks forward to the upcoming series of sales of Jewelry to be held in Geneva on May 15th, which will include Magnificent Jewels, Noble Jewels and Jewels from the Collection of Lily Marinho.
*Estimates do not include buyer’s premium.