Sothebys New York Jewelry Sale Results
Tapping into the holiday buying frenzy, Sotheby’s New York held its sale of Magnificent Jewels on December 6, 2006. The auction sold 79 percent by lot and 62,8 percent by value, garnering $18,419,280 against a presale estimate of $22 million to $29 million.
The one day sale also included Castellani & Giuliano — The Judith H. Siegel Collection. This portion of the sale, which sold 96,8 by lot and 97,7 percent by value, realized $7,404,799 against a presale estimate of $3 million to $4 million. The grand total for the day was $25,824,075 the largest jewelry sale at Sotheby’s New York since October 1997, said Lisa Hubbard, international jewelry department chairman, North and South America.
Overall, diamonds fared well, but the big disappointment of the sale came when a 28.03-carat, VS2, fancy intense purple-pink diamond failed to sell. The sale once again proved that Sotheby’s New York is all about selling fine, signed jewelry that has historical and/or artistic merit as those pieces consistently sold for solid prices. The top lot of the sale was a pair of emerald and diamond ear pendants showcasing two emeralds each weighing slightly more than 19-carats. They sold to a US private for $688,000 against an estimate of $600,00 to $800,000.
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