Graff Bracelet Exceeds Expectations at Bonhams

RAPAPORT... An emerald and diamond bracelet by Graff fetched more than four times its highestimate at Bonhams, leading an auction that saw many pieces crush presale estimates.  The piece, which was the subject of a fierce bidding war,features 13 step-cut Colombian emeralds, the largest of which is 2.56 carats,interspersed with an equal number of step-cut diamonds. It sold to a privatebuyer for $749,847, beating its $180,000 high presale estimate at the SeptemberLondon Jewels sale. "The emeralds in this classic and elegantly designedbracelet are of superlative quality," Emily Barber, director of jewelry atBonhams UK, said Wednesday. "They have a rich, vivid, true-green color andcrystalline transparency. To amass this number of emeralds that are so wellmatched in terms of color, quality and size would have been a painstaking andexpensive selection process and encapsulates Graff's commitment to using onlythe very best-quality stones." Another emerald that received heavy bidding was an Art Decoemerald, diamond and enamel brooch by designer Hennell. The piece, created in1925 and given as a gift by Mughal Emperor Akbar II to Lady Mary HoodMackenzie, garnered $186,587 against a high estimate of $73,000. "This was the first time the emerald had come to the openmarket," Barber explained. "It had been passed down the female line of thefamily since Mary Hood's death, and it certainly captured a lot of interestduring the sale, with bidders from 25 countries." Other notable items at the sale included a five-piece, mystery-setcollection by Van Cleef & Arpels, which sold for a total of $402,938. Theentire collection found buyers, and most pieces sold for well over theirpresale estimates. Those included a ruby and diamond ring, which sold for $40,488, surpassing its high presale estimate of $36,000. A pair of ruby and diamondearrings was snapped up for $96,411, almost double its $49,000 high estimate. Additionally, 20 jewels from the private collection of theBuccellati family, made by famed designer Mario Buccellati, sold well. Asilver, gold and emerald vanity case brought in $31,162, nearly four times itshigh estimate of $8,500, while a gold bangle sold for $12,200 against a high valuationof $3,600.In total, Bonhams sold 82% of lots by value. The auctionhouse's next jewelry sale will take place on September 26 in New York. Image: The Graff emerald and diamond bracelet. (Bonhams)