Christie's Garners $11M at London Auction

RAPAPORT... Christie's brought in GBP 8.3 million ($10.7 million) fromits Important Jewels sale in London on Wednesday, with pearls dominating the event. The priciest was a cut-cornered rectangular step-cut,18.02-carat, D-color, VVS1-clarity, type IIa diamond ring, which fetched GBP881,250 ($1.1 million) against an estimate of GBP 800,000 to GBP 1.2 million($1 million to $1.6 million). Four of the top 10 lots were jewelry itemsfeaturing pearls, which sold for well over their high estimates. An emerald, diamond and cultured-pearl necklace by Meister,set with a rectangular cut-cornered, 10.99-carat emerald, garnered GBP 275,000($355,943), almost 23 times its GBP 12,000 ($15,532) high estimate. Meanwhile,a necklace containing 45 natural pearls went for GBP 268,750 ($347,922), wellabove its GBP 120,000 ($155,351) high valuation. A pair of 19th-century natural-pearl earrings,which previously belonged to Eug?(C)nie de Montijo, the last empress of France andwife of Emperor Napoleon III, fetched GBP 237,500 ($307,375), smashing its GBP80,000 ($103,537) upper estimate. A set of button-shaped, natural-pearl anddiamond earrings, went for GBP 187,500 ($242,696), exceeding its GBP 80,000($103,537) high presale valuation. Other notable items included a diamond necklace by Shinde,which garnered GBP 539,250 ($697,908), nearly three times its GBP 200,000($258,844) high valuation, and a Van Cleef & Arpels diamond necklace fromthe mid-20th century, which swept past its GBP 150,000 ($194,206) uppervaluation, bringing in GBP 347,250 ($449,587). Image: The 18.02-carat diamond ring. (Christie's)