History is Made in Geneva

Sotheby's achieves highest jewellery sale total in history. The Magnificent Jewels Sale Totals $199,512,930 (CHF 183,054,500)

The Pink Star renamed ‘THE PINK DREAM' sets A world auction record for a diamond or jewel at $83,187,381 (CHF 76,325,000)

The 59.60-carat Internally Flawless Fancy Vivid Pink Diamond was bought by the famous New York-based diamond cutter Isaac Wolf who has renamed it after the sale

Among Other Auction Records Set Today:

World Auction Record for a Jewel by Van Cleef & Arpels, A Pair of Colourless Diamonds, Sapphire Jewels, a Burmese and a Kashmir Sapphire & A Record Price Per Carat for a Sapphire

David Bennett, Chairman of Sotheby's Jewellery Division in Europe and the Middle East and Chairman of Sotheby's Switzerland auctioneering the record-breaking Pink Star

Geneva, 13 November 2013 – Tonight, Sotheby's Geneva made history when it sold The Pink Star – a 59.60-carat oval cut pink diamond - for $83,187,381 (CHF 76,325,000), a world auction record for a diamond and any gemstone or jewel. This landmark price eclipsed the previous record at $46.2 million established three years ago by Sotheby's Geneva for the magnificent ‘Graff Pink' – the 24.78 carat fancy intense pink diamond. Today's historic sale of Magnificent Jewels achieved $199,512,930 (CHF 183,054,500), the highest jewellery sale total in history (est. $121,635,591-165,432,534/ CHF 111,601,500-151,785,500).

Commenting on tonight's results, David Bennett, Chairman of Sotheby's Jewellery Division in Europe and the Middle East and Chairman of Sotheby's Switzerland, said: “The Pink Star is a true masterpiece of nature. Its immense importance was reflected tonight in the strength of the bidding and we are thrilled that the record price it achieved earned it a place in history. Today's record sale is a further testimony to the strength and depth of the diamond and jewellery market.”

The Pink Star (renamed ‘The Pink Dream') 

Four bidders competed for the Pink Star which is the largest internally flawless fancy vivid pink diamond that the Gemological Institute of America (GIA) has ever graded. The diamond was bought after nearly five minutes by by the famous diamond cutter Isaac Wolf who has renamed it ‘The Pink Dream' after the sale. The diamond - lot 372 in the sale - received the highest colour and clarity grades from the GIA for pink diamonds, it has also been found to be part of the rare subgroup comprising less than 2 % of all gem diamonds - known as Type IIa: stones in this group are chemically the purest of all diamond crystals and often have extraordinary optical transparency. Mined by De Beers in Africa in 1999, the 132.5 carat rough diamond was painstakingly cut and polished over a period of two years and transformed into this stunning gemstone. The diamond was presented for the first time at auction tonight with an estimate of $60 million. The landmark price achieved tonight established a world auction record for a diamond (including for a pink diamond and any coloured diamond) and for any jewel. 

The “Walska Briolette Diamond” Brooch

Among the iconic jewels with important provenance presented today was The “Walska Briolette Diamond” Brooch. Created by Van Cleef & Arpels in 1971, this masterpiece of design showcases the historic “Walska Briolette Diamond”, a fancy vivid yellow diamond weighing 96.62 carats. Tonight it achieved CHF 9,685,000 ($10,555,778) - an auction record for a jewel by Van Cleef & Arpels (lot 373, est. in excess of $8 million), Once in the collection of opera singer and jewellery connoisseur, Ganna Walska (1887-1984), the briolette was subsequently mounted as a brooch and most recently exhibited at Van Cleef and Arpels retrospectives both at the Cooper Hewitt, National Design Museum in New York, in 2011, and at the Palais Royal, Musée des Arts Décoratifs in Paris, in 2012-13.

Important Diamonds

Today's sale also included rich offering of white diamonds of D colour - the finest colour grading for white diamonds. Among them was a pair of magnificent earrings set with brilliant-cut diamonds weighing 23.77 and 23.78 carats respectively, which surpassed the pre-sale high estimate to sell for CHF 8,453,000 ($9,213,009) – a record for a pair of colourless diamonds. Both diamonds were cut from the same 161 carat rough and form a perfectly matched pair (lot 354, est. CHF 6,600,000-7,500,000/ $7,250,000- 8,250,000).

Blue diamonds featured strongly. A magnificent rectangular mixed-cut fancy vivid blue diamond weighing 5.04 carats and mounted as a ring rose above estimate and achieved CHF 6,101,000 ($6,649,541) (lot 349, est. CHF 5,100,000–5,700,000/ $5,600,000-6,300,000), while a 5.51 carat pear-shaped fancy intense blue diamond ring realised CHF 4,981,000 ($5,428,842) (lot 330, est. CHF 4,220,000-5,000,000/ $4,650,000-5,450,000).

A further highlight of this section was an outstanding 20.80 carat marquise-shaped fancy vivid yellow diamond of exceptional hue, mounted as a ring which achieved CHF 4,757,000 ($5,184,702), again well above its pre-sale high estimate (lot 357, est. CHF 1,600 000- 2,500,000/ $1,750,000-2,750,000).

Impressive Gemstones

The sale also featured a group of impressive gemstones, led by a magnificent Burmese “Royal Blue” sapphire weighing 114.74 carats which almost quadrupled its pre-sale low estimate and sold for CHF 6,549,000 ($7,137,821) – a world auction record for a Burmese sapphire (lot 355, est. CHF 1,650,000-2,600,000/ $1,800,000-2,800,000). According to the SSEF, “a natural sapphire from Burma of this size and quality is very rare and exceptional and thus can be considered a true treasure of nature'. 

Another fine example of Kashmir sapphire was found in a cushion-shaped sapphire weighing 21.42 carats, mounted as a ring and coming from the Estate of a European Royal Princess. The gemstone achieved CHF 2,965,000 ($3,231,583), again four times its pre-sale estimate (lot 332, est. CHF 680,000- 910,000/ $750,000-1,000,000). 

Burmese sapphires were also sought after. A pair of very fine sapphire and diamond ear clips, each set with a Burmese sugarloaf cabochon weighting 32.47 and 36.80 carats respectively surpassed the pre-sale estimate and sold for CHF 749,000 ($816,343) (lot 322, est. CHF 455,000-725,000/ $500,000-800,000).

A cushion-shaped cabochon ruby weighing 31.30 carats and mounted as a ring by Cartier generated a lot of attention. It almost tripled the pre-sale low estimate, selling for CHF 989,000 ($1,077,921) (lot 314, est. 365,000-545,000/ $400,000-600,000)
Natural pearls - the rising stars of all gemstones - achieved strong prices.  An extremely fine and highly important natural pearl necklace realised CHF 5,205,000 ($5,672,982), almost four times its pre-sale estimate (lot  356, est. CHF 1,320,000-2,250,000/ $1,450,000- 2,450,000). It was designed as a graduated row of fifty-two pearls measuring from approximately 7.95 to 12.50mm with a length of approximately 525 mm.

Jewels with Important Provenance

Continuing Sotheby's long tradition of offering jewels with noble and important provenance, the sale presented today jewels from the Collection of Odile de Richelieu (1879-1974), Countess Gabriel de La Rochefoucauld, Princess de La Rochefoucauld, daughter of the 7th Duke of Richelieu and descendant to the family of the Cardinal de Richelieu, Louis XIII's chief minister and éminence grise. Sold in aid of a charitable foundation, the collection included The Richelieu Sapphires, a pair of rare and magnificent Kashmir sapphires weighing a total of 47 carats, mounted with diamonds as earrings which generated a lot of enthusiasm and sold for CHF 7,669,000 ($8,358,520) – an auction record for sapphire jewels, a Kashmir sapphire and a record price per carat for a sapphire (lot 371, est. CHF 2,300,000–4,200,000/ $2,500,000-4,500,000, illustrated right).

The sale was further distinguished with jewels from the Estate of the late Gunter Sachs (1932-2011), including a gem-set and diamond parure “Tutti Frutti” by Cartier which achieved CHF 557,000 ($607,080) (lot 337, est. CHF 230,000-365,000/ $250,000- 400,000). A superb Art Deco bracelet from the 1930s, centring on a marquise-shaped diamond weighing 9.38 carats, which can also be worn as a choker realised CHF 965,000 ($1,051,763), four times its pre-sale low estimate (lot 338, est. CHF 230,000-365,000/ $250,000-400,000).

The auction also featured a magnificent jewel that once belonged to Lily Pons (1898-1976), the celebrated international opera singer. This emerald and diamond necklace made by Van Cleef & Arpels circa 1948 almost doubled the pre-sale expectation and sold for CHF 413,000 ($450,133) (lot 336, est. CHF 230,000- 320,000/ $250,000-350,000).