Search

Revealed: Sotheby's breaks six jewellery auction records

Revealed: Sotheby's breaks six jewellery auction records

A gem of an investment


Leading auction house Sotheby's gets a piece of the action in a week of auction world records. The Magnificent Jewels Geneva auction has seen six new jewellery auction records broken in an historical evening of gemstones and jewels...

It has been a week of auction records, Christie's made history earlier in the week with the record breaking 20th century art auction that saw a Picasso masterpiece sell for $179.4 million and now Sotheby's has broken six world records with its Tuesday evening jewellery auction in Geneva. The Magnificent Jewels Geneva auction hit a total haul for its gemstone lots of $160.9 million, which represents the highest total ever for a jewellery auction.

Some of the record breaking highlights from the evening include a 25.59 carat Cartier Burmese ruby ring (pictured above), which smashed three world records by selling for $30.3 million, making it the highest price ever paid for a ruby at auction, the highest price paid at auction for a Cartier-origin jewel, and the highest price-per-carat paid for any ruby at auction. The anonymous buyer ended up exceeding the original estimates by double as it has previously been expected to sell for between $12 million and $18 million. 

An 8.72-carat pink diamond ring, believed to have once belonged to Napoleon Bonaparte I's niece, Princess Mathilde, sold for $15.9 million and a double-strand pearl and diamond necklace sold for just over $7 million, making it a record price for a pearl necklace with a double-strand design.

David Bennett, worldwide chairman of Sotheby's international jewellery division, said that the "lively bidding" was "evidence that the market for exceptional jewels is going from strength to strength."

Related articles

Buro 24/7 Selection

More