Sotheby's Scores $36M at Geneva Sale

RAPAPORT... Sotheby's garnered $36.4 million from its most recent Geneva sale, even as several top lots failed to find buyers.A 7.17-carat, fancy-intense-purple-pink, VVS2-clarity diamond ring was the top seller at the May 10 Magnificent Jewels and Noble Jewels auction. The cut-cornered rectangular modified brilliant-cut stone brought in $5.6 million, or $790,464 per carat, within its price estimate, Sotheby's said Wednesday.A gem-set and diamond bracelet called Birds in Flight, created in 1927 by designer Oscar Heyman, fetched $1.5 million, nearly double its high estimate. Meanwhile, a diamond pendant also exceeded its presale price. The jewel, which features an old-mine brilliant-cut, 51.15-carat, fancy-yellow, SI1-clarity diamond, went for $1.3 million against its $753,716 presale high estimate.Other notable items included a cushion-shaped, 12.39-carat, faint-pink, VVS1-clarity, type IIa diamond ring, and a pear-shaped, 15.66-carat, D-color, VS1-clarity diamond ring by Schroeder. Each of those garnered $1.1 million, within their expected price ranges. Meanwhile, the lead item at the auction, a step-cut, 80.08-carat, D-color diamond and ruby ring by Chopard, failed to sell. Sotheby's had predicted that item would fetch more than CHF 8 million ($8.1 million). Additionally, a heart-shaped, 15.23-carat, fancy-intense-orangey-pink diamond ring with a high price of CHF 5.6 million ($5.6 million) also remained unsold, as did a cushion-shaped, 3.14-carat, fancy-intense-blue diamond ring expected to bring in up to CHF 2.2 million ($2.3 million).In total, Sotheby's sold 77% of items on offer at the auction, it noted.Image: The 7.17-carat, fancy-intense-purple-pink diamond ring. (Sotheby's)