Sotheby's London Sale Rakes In $6.8M

RAPAPORT... Sotheby's brought in GBP 5.3 million ($6.8 million) from itsFine Jewels sale in London on Tuesday, with many items going for well above theirhigh estimates. The top lot, a necklace by Van Cleef & Arpels featuringa detachable rectangular cushion-shaped, 18.22-carat emerald center stone,surrounded by pear-shaped and brilliant-cut diamonds, sold for $402,375,beating its high estimate of $354,090. A late-19th-century Hunt & Roskell necklace -set with an oval, 11.8-carat sapphire, diamonds, and a detachable pendantcontaining a 6.4-carat, pear-shaped sapphire - went for $321,900, more thantriple its high estimate of $103,008. A number of other items also smashed their high valuations,including a pair of Cartier onyx and diamond earrings from 1925. Those broughtin $281,663, nearly four-and-a-half times their $64,380 presale estimate. Acushion-shaped, 18.47-carat sapphire ring, flanked by diamonds, fetched$209,235, above its $193,140 high estimate. Emeralds also proved popular, with a Van Cleef & Arpels 8.34-caratemerald ring selling for $152,903 against a high estimate of $70,818, and anemerald pendant necklace by Hemmerle going for $144,855, nearly six times its$25,752 high valuation. The Hemmerle items, the largest collection of the designer'spieces to come to auction, all left their high estimates in the dust. Thoseincluded a pair of cameo earrings, which sold for $88,523, more than double the$38,628 expected valuation, and tourmaline and green sapphire earrings, whichblasted their $11,588 high valuation to fetch $64,380. Image: The Van Cleef & Arpels emerald and diamond necklace. (Sotheby's)