Cartier Bracelet Soars Past Estimate at Sotheby's

 RAPAPORT... A sapphire and diamond bracelet fetched more than doubleits high estimate at Sotheby's Geneva auction, selling to a female Asian collector after a bidding war. The piece contains a 47.07-carat, royal-blue Burmesesapphire center stone with high clarity, cut in a cabochon shape and flanked bytwo pear-shaped white diamonds weighing 9.27 carats and 8.60 carats. Created byCartier in 1927, the bracelet fetched $6.1 million against a high estimate of$3 million, and earned one of the highest prices at auction for an Art Decobracelet. In total, the Magnificent Jewels and Noble Jewels sale on Wednesday brought in $53.9million, with 80% of lots sold, more than half of which exceeded theirestimates. "With its sensational 'sugar loaf' Burmese sapphire andpowerful geometric design, the Cartier bracelet that led tonight's sale was atrue masterpiece, among the most important Art Deco pieces we've ever handled," said David Bennett, worldwide chairman of Sotheby's jewelry division.  The bracelet spearheaded a strong showing for Art Decopieces, which achieved a combined $9.6 million at the sale, against a highestimate of $6 million, Sotheby's noted. A 6.03-carat, fancy-intense-purple-pink diamond pendantestimated at $2.5 million to $3.5 million garnered $3.4 million, while adiamond pendant weighing 78.29 carats went for $2.9 million, beating its $2.8million high estimate. A set of diamond jewels by Moussaieff, including a necklace,earrings and a bracelet, brought in $2.7 million. The collection was estimatedat $2 million to $4 million. Other notable items, many of which sold for well above theirestimates, included a sapphire and diamond necklace set with a 14.97-caratKashmir sapphire. The piece, dated 1890, fetched $1.4 million against its upperestimate of $800,000, while an emerald and diamond pendant-brooch combination,created by Cartier in 1927, garnered $1.1 million, smashing its $250,000 highestimate. Meanwhile, Sotheby's sold 93% of the jewels on offer from anAsian-American private collection, fetching a total of $12.7 million, against ahigh estimate of $8.9 million, the auction house said. The sale noted strongactivity from Asian collectors, approximately half of whom were female buyers,more than double the number of women purchasers five years ago, Sotheby'sadded. Image: The Cartier sapphire and diamond bracelet. (Sotheby's)