Sotheby's Brings In $43M at New York Sales

RAPAPORT... Sotheby's garnered $43.1 million from its two New Yorkjewels auctions, led by a blue diamond ring which sold for $6.6 million. The cushion-cut, 7.55-carat, fancy-deep-grayish-blue, typeIIb, SI2-clarity Indian Blue had been estimated to fetch $6 million to$8 million at the Magnificent Jewels auction Tuesday. That sale followed theNew York Fine Jewels auction, which took place Monday. A cushion-cut, 20.16-carat,fancy-deep-brownish-pinkish-orange diamond ring beat its $1.8 million highestimate, selling for $2.8 million, an auction record for a stone of thatcolor. A clip brooch by Verdura, featuring a round-cornered square brilliant-cut,14.37-carat fancy-vivid-yellow diamond, accented with cabochon sapphires andround diamonds, fetched $2.1 million. That piece, designed to look like an iris,was estimated at $1.6 million to $2.4 million. Other notable items include a pair of earclips, created in1963 by Harry Winston, set with pear-shaped fancy-light-brown-pink diamondsweighing 12.41 carats and 11.15 carats. The pair, from the private collectionof philanthropist Nenetta Burton Carter, sold for $1.6 million, double its highestimate of $800,000. Jewelry from other private collections also fared well,including that of former silent-film star and socialite Mary Duncan Sanford. Her jewels brought in a total of $1.4 million, well over their $769,000 highestimate, and included a vintage Van Cleef & Arpels necklace. The piece containsover 50 carats of diamonds, and fetched $375,000, more than twice its highestimate of $175,000. "We continue to see buyers vie for vintage jewels byBoucheron, Tiffany & Co., and Van Cleef & Arpels," said Kendall Reed,head of Sotheby's Fine Jewels sale in New York. "In addition to signed jewelry,we saw strong demand for white diamonds, particularly pear and round-shapedstones, along with sapphires and emeralds." Image: The 7.55-carat Indian Blue ring. (Sotheby's)