Graff Pieces Sell Out at Online Sotheby's Auction

RAPAPORT... Sotheby's achieved $3.3 million at its online Fine Jewels auction, driven by proceeds from its sold-out collection of Graff pieces.The total beat the company's high estimate of $2.8 million for the sale, the auction house said last week. The 18 pieces of Graff jewelry brought in a combined $1.3 million, far surpassing their combined estimate of $730,000. The highest-selling lot was a diamond bomb?(C) ring, which fetched $150,000, against a presale estimate of $120,000.Several other Graff pieces sold for more than double their high estimates, including a pair of tiered, fringed earrings set with round sapphires and round and pear-shaped diamonds. Those brought in $106,250, smashing their $50,000 valuation, as did a diamond and sapphire bracelet from the Icon collection.Signed jewels by Cartier, Bulgari, Buccellati and JAR also performed well, Sotheby's noted. All six Buccellati pieces found buyers, garnering $111,250, led by a two-color gold, diamond and ruby cuff bracelet, which went for $37,500, while a pair of aluminum ear clips by JAR achieved $20,000, well over its $7,000 high estimate.In total, 90% of items on offer found homes, with 60% of those exceeding their high estimates. Participants were from 27 countries, with buyers located in North America, Asia, Europe and the Middle East, the auction house noted.Last week, Graff was also the top seller at Christie's online jewels sale, with pieces by the famed jewelry house fetching well above their high estimates.Image: The Graff diamond bomb?(C) ring. (Sotheby's)