Sapphire Necklace Sells for $15M at Christie's

RAPAPORT... Christie's brought in $60.4 million at its MagnificentJewels auction in Hong Kong Tuesday as a sapphire necklace went for $15million. The Peacock Necklace, which had a presale estimate of $12million to $15 million, became the most expensive Kashmir sapphire necklace percarat in auction history, Christie's said. The piece contains 21 cushion-cutKashmir sapphires weighing a total of 109.08 carats. Christie's also garnered $1.3 million from the sale of the 24.04-carat,fancy-yellow Moon of Baroda pendant, which Marilyn Monroe wore to the premiereof her 1953 movie, Gentlemen Prefer Blondes. The piece smashed itsestimate of $500,000 to $750,000. An autographed photo of the actress wearingthe necklace fetched $35,302, compared with its original estimate of $10,000 to$15,000. An oval-shaped, 10.04-carat, Burmese pigeon's blood ruby anddiamond ring brought in $7.2 million in line with an expected $6.9 million to$8.7 million. A set of pear brilliant-cut, fancy-pink earrings weighing 5.21carats and 5.01 carats sold for $4.3 million, within its presale valuation range of $3.8 million to$4.5 million . Christie's sold 70% of lots on offer at the auction. Image: The Peacock Necklace. (Christie's)