This rare Melo pearl was a star lot as Christie's continues its Arab region success

paulfrasercollectibles

2015-06-26 12:06:28

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This rare Melo pearl was a star lot as Christie's continues its Arab region success

Sold for $722,500, the 224 carats treasure sold for four times its estimate to a Chinese private buyer

Christie's sold a wide range of jewellery and watches in Dubai on October 27, with total sales reaching $12,755,775.

This brings the total forChristie's October sale season, including its auction of International Modern and Contemporary Art, to $27 million, an increase of 106% over the same period in 2009.

The highlight of this evening's sale was the private single owner collection of 40 parures, which collectively sold for $6,919,650.

The buyer breakdown by lot was 35% from the Middle East, 30% from Europe, 23% from Asia and 12% from the Americas.

This important sapphire and diamond bracelet by Mouawad sold for $932,500, over its $250,000 - $350,000 pre-sale estimate

The largest private collection of jewellery parures to be sold at auction made $6.9 million and caused excitement as each parure was modelled around the crowded saleroom.

According to Christie's bidding was brisk from buyers in the room, on the telephones and via the internet.

In the end, the highest price was paid for an outstanding sapphire suite, which realised $1,570,000.

Another outstanding result was the world auction record price of $722,500 achieved for a rare Melo pearl of 224 carats - four times its low pre-sale estimate of $180,000, bought by a Chinese private collector.

A close-up of the rare 224 caratsMelo pearl, sold for $722,500

"The sale of Fabulous Parures is an important milestone in the development and expansion of Christie's jewellery auctions in the Middle East," said David Warren, Director of Jewellery, Christie's Dubai.

"This impressive private collection, sourced and sold locally, demonstrates that collectors have reached the next level of confidence in Christie's Dubai sales.

"The atmosphere was electric and reflected the strength of the jewellery and watch markets worldwide," he said.

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