Bonhams Jewelry sale brings over $10 million



2015-12-07 16:08:50

Bonhams last London jewelry sale of 2015 brought record prices in front of a packed saleroom.

Many pieces soared above their high estimates, as bidding pushed the sale to a final total of £6.79 million ($10.23 million).

Topping the auction was a pair of a pair of late 19th-century earrings set with two Kashmir sapphires, formerly owned by a European Princess. Estimated at £500,000-£800,000, they sold for £1,538,500 ($2.31 million).

Next up was a fancy greyish-blue, 2.97cts step-cut diamond ring created by society jeweller Andrew Grima, whose clients included Queen Elizabeth II and Jacqueline Onassis. Made in 1971, and valued at £500,000-£700,000, the ring more than doubled its estimate to sell for £1,482,500 ($2.24 million) – setting a new world record price per carat for a fancy greyish-blue diamond.

"These lots attracted interest from around the globe because of their exceptional quality and rarity," said Jean Ghika, Director of Jewellery for UK and Europe at Bonhams.

"The prices achieved reflect the buoyancy of the market for coloured gem stones of the highest quality. We anticipate 2016 to be very much the year of colour. It is exciting to see such wonderful pieces being appreciated by a discerning international clientele."

The auction also saw the sale of an equally colourful Belle Époque ruby and diamond pendant, set with a 3.83 ct Burmese ruby, which tripled its estimate to sell for £128,500 ($193,654).

"This ruby possessed all the hallmarks of a top-quality Burmese gem and was admired for its glowing vibrant red colour," commented Ghika. "Unheated Burmese rubies of this calibre are increasingly rare to find, hence the participation from international bidders from all four corners of the globe."

Further impressive results included a 10.28 ct Madagascan ruby single-stone ring which sold for £236,500 ($356,413), setting a record per carat for a Madagascan ruby; a pair of bouton-shaped natural pearl earring which realized £158,500 ($238,865); and a Cartier art deco diamond flexible bar brooch, circa 1934, which sold for £84,100 ($126,741).

"It was excellent to end the 2015 London Fine Jewellery Sales with three new world records," said Daniel Struyf, Senior International Jewellery Director.

"Our last two sales in Hong Kong and London have demonstrated that the market is strong for coloured gemstones, signed jewellery and pearls. Next stop is our New York Fine Jewellery sale on Tuesday (December 8th), our last international auction of 2015."

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