Sothebys : Sotheby's Spring Jewelry Auctions Total $34 Million in New York

New York | [phone] | Darrell Rocha |[e-mail] | Amanda Bass |[e-mail]

SOTHEBY'S SPRING JEWELRY AUCTIONS

TOTAL $34 MILLION IN NEW YORK

A Rare 3.47-Carat Fancy Intense Blue Diamond Ring

Soars to $6.7 million

New World Auction Record Price-Per-Carat **

Jewels from the Personal Collection of Fred Leighton

Brings $1.6 Million **

18 Bidders Compete for a

52.89-Carat Sapphire and Diamond Ring by Cartier,

Leading the $6.2 Million Auction of Fine Jewels **

400+ Lots Sold Across Three Sales

Sotheby's Next Jewelry Auction: Magnificent Jewels and Noble Jewels

In Geneva on 15 May

NEW YORK, 19 April 2018 - Driven by top prices for important diamonds and superb gemstones, Sotheby's spring jewelry auctions concluded today in New York with a combined total of $34 million and a strong 83.3% of all lots sold. The three auctions were led by an incredibly rare 3.47-carat Fancy Intense Blue Diamond Ring, which sold in yesterday's Magnificent Jewels auction for $6.7 million - marking a new world auction record price-per-carat for any Fancy Intense Blue diamond ($1,920,259 per-carat). Below is a look at some of the highlights that drove this week's results.

MAGNIFICENT JEWELS Auction Total: $26.2 Million

Gary Schuler, Chairman of Sotheby's Jewelry Division, Americas commented: "Our results affirm that the auction market continues to flex its strength in top-quality diamonds, important gemstones and jewels with distinguished provenance. We are proud to continue the long line of exceptional blue diamonds at Sotheby's, with the sale of the Fancy Intense Blue diamond, that soared to $6.7 million after competition from three bidders. Online bidding and buying also contributed significantly to our total, including the historic Emerald and Diamond Necklace by Tiffany & Co. formerly in the collection of Betsey Cushing Whitney, which we were honored to auction again 20 years after the original sale of her collection."

MAGNIFICENT DIAMONDS

A Rare Fancy Intense Blue Diamond Ring Weighing 3.47 carats, I1 clarity

Sold for $6,663,300 ($1,920,259 price per carat) Estimate $2/2.5 million **AUCTION RECORD PRICE PER CARAT FOR A FANCY INTENSE BLUE DIAMOND**

Diamond Bracelet

Weighing a total of 72.96 carats

Sold for $ 1,395,000 ($19,120 price per carat)

Estimate $1/1.5 million

Diamond Ring, Tiffany & Co.

Weighing 13.70 carats, D color, VS1 clarity Sold for $1,155,000 ($84,307 price per carat) Estimate $600/800,000

MAJOR GEMSTONES

An Exceptional Classic Colombian Emerald, No Oil

Weighing 6.33 carats

Sold for $1,095,000 ($172,986 price per carat)

Estimate $400/600,000

An Impressive Kashmir Sapphire and Diamond Ring, circa 1920 Weighing 11.24 carats

Sold for $999,000 ($88,879 price per carat) Estimate $300/500,000

CELEBRATED PROVENANCE

Yesterday's sale offered a historic jewel from one of the most prominent American families in modern times: the Whitneys. Reappearing at auction some

20 years after the landmark sale of Jewels from the Estate of Betsey Cushing

Whitney, An Exquisite Emerald and Diamond Necklace by Tiffany & Co. composed of 16 marquise-shaped diamonds alternating with 16 step-cut emeralds sold for $855,000 (estimate $700/900,000) to an online bidder.

THE JEWELER'S EYE: THE PERSONAL COLLECTION OF FRED LEIGHTON

Auction Total: $2.8 Million

Jewelry from the Collection Totals: $1.6 Million

Representing Fred Leighton's philosophy to collect the beautiful and eclectic, bidders eagerly vied for pieces evocative of the celebrated jeweler's unencumbered eye and exceptional taste. Largely formed by his extensive travels around the world, the jewels on offer spanned centuries of design and featured a wide-range of materials including moonstone, demantoid garnets, rubies, emeralds and many more. A Gold, Turquoise and Diamond Grande and Petite Repeating Desk Clock with Alarm by Cartier led the sale when it sold for $275,000 - over three times its high estimate of $80,000.

Gold, Turquoise and Diamond Grande and Petite Repeating Desk Clock with

Alarm, Cartier Estimate $60/80,000

Sold for $275,000

Classic Ceylon Sapphire and Diamond Ring, Cartier, Paris

Weighing 52.89 carats Estimate $125/150,000

Sold for $879,000

Diamond Necklace-Bracelet

Combination, Chaumet,

France Estimate $80/120,000

Sold for $112,500

FINE JEWELS Auction Total: $5.8 Million

Kendall Reed, Head of Sotheby's Fine Jewels in New York, commented: "We

are absolutely thrilled with the results of today's sale, which closed out the jewelry season in New York with a stellar 87% of lots sold. There was tremendous competitive bidding for jewels by established makers like Cartier, David Webb and Van Cleef & Arpels, including no fewer than 18 bidders for the Cartier Sapphire and Diamond Ring, the top lot of the sale and the top price ever achieved in our Fine Jewels auctions in New York. It's very encouraging to see the response to jewelry offered across all price points, which attracted a broad international group of buyers.

NEXT JEWELRY AUCTION:

MAGNIFICENT JEWELS AND NOBLE JEWELS

SOTHEBY'S GENEVA 15 MAY 2018

Ruby and Diamond Necklace,

Marchak, France Estimate $60/80,000

Sold for $100,000

One of the foremost historic diamonds - The Farnese Blue - will appear on the market for the first time in history this spring, after having remained in the same family for over three centuries. The 6.16-carat pear shaped blue diamond will beoffered in Sotheby's sale of Magnificent Jewels and Noble Jewels in Geneva on 15 May 2018 with an estimate of CHF 3.5 - 5 million (US$ 3.7 - 5.3 million).

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Sotheby's has been uniting collectors with world-class works of art since 1744. Sotheby's became the first international auction house when it expanded from London to New York (1955), the first to conduct sales in Hong Kong (1973), India (1992) and France (2001), and the first international fine art auction house in China (2012). Today, Sotheby's presents auctions in 10 different salesrooms, including New York, London, Hong Kong and Paris, and Sotheby's BidNow program allows visitors to view all auctions live online and place bids from anywhere in the world. Sotheby's offers collectors the resources of Sotheby's Financial Services, the world's only full-service art financing company, as well as the collection advisory services of its subsidiary, Art Agency, Partners. Sotheby's presents private sale opportunities in more than 70 categories, including S|2, the gallery arm of Sotheby's Global Fine Art Division, and two retail businesses, Sotheby's Diamonds and Sotheby's Wine. Sotheby's has a global network of 80 offices in 40 countries and is the oldest company listed on the New York Stock Exchange (BID).

*Estimates do not include buyer's premium. Prices achieved include the hammer price plus buyer's premium and are net of any fees paid to the purchaser where the purchaser provided an irrevocable bid.

Images are available upon request

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