8ct. Diamond Ring Beats Estimate at Bonhams

RAPAPORT... An 8.21-carat diamond ring was the top seller at the Bonhams New York Jewels sale, garnering $500,313, nearly double its high estimate.The piece, set with an oval-shaped modified brilliant-cut, D-color, VS1-clarity diamond, was designed in 1910. It was the star of the May 19 auction, which brought in a total of $3.7 million, Bonhams said Wednesday."[The ring] was the final lot in today's sale and the excitement in the room was palpable as several eager phone bidders could not let this important piece go," said Caroline Morrissey, head of jewels for Bonhams New York. A ring featuring a 2.02-carat, fancy-intense-orangey-pink diamond garnered $400,313, smashing its $260,000 high estimate. The pear-shaped modified brilliant-cut, VVS1-clarity center stone is flanked by heart-shaped brilliant-cut diamonds.Meanwhile, a late-19th-century ring with a cushion-shaped mixed-cut, 5.22-carat Kashmir sapphire surrounded by old European-cut diamonds achieved $375,312. A pair of earrings with Colombian emeralds weighing 49.06 and 48.42 carats and accented with onyx and diamonds went for $275,313, while a Tiffany & Co. pigeon's blood ruby and diamond ring sold for $112,813."Overall, we were delighted by the outcome of the auction," Morissey added. "We had wonderful, spirited participation from bidders around the globe."Image: The 8.21-carat diamond ring. (Bonhams)