12ct. Diamond Crushes Estimate at Skinner Sale

RAPAPORT... A 12.20-carat, marquise-cut diamond was the top seller at a recent Skinner Auctioneers sale, more than tripling its high estimate.The unmounted, G-color, SI1-clarity diamond fetched $472,000, well above its $150,000 valuation, at the May 18 sale, Skinner said Saturday. The stone came from the descendants of Irene Langhorne Gibson, who is thought to have modeled for her husband, Charles Dana Gibson. The famous American artist and illustrator created the Gibson Girl image, a personification of the feminine ideal that became popular in the late 19th and early 20th centuries.An antique ring set with a circular-cut Kashmir sapphire flanked by diamonds, which has been in the same family for over a century, also smashed its $20,000 high estimate, garnering $125,000 at the auction. Meanwhile, a cushion-cut ruby and diamond ring by Van Cleef & Arpels sold for $100,000, double its upper valuation, and a ring by Harry Winston featuring a cushion-cut Colombian emerald framed by pear-shaped diamonds went for $100,000, just over its high estimate."The jewelry market continues its upward ascent," said the US auction house's jewelry department director, Kaitlin Shinnick. "We're seeing higher prices across all categories and [are] thrilled by the number of lots beating presale estimates."In total, Skinner achieved $2.8 million for the sale.Image: The 12.20-carat marquise diamond.