Sotheby's to Sell 33ct. Diamond Necklace

RAPAPORT... Sotheby's Magnificent Jewels spring sale in New York willfeature a 33.25-carat, D-flawless diamond pendant necklace with a high estimateof $5 million, the auction house said last week. The event - one of three New York sales Sotheby's will hold thismonth - will also include an array of colored-diamond jewelry. A 7.01-carat,fancy intense pink, SI2-clarity diamond ring is expected to go for $4.2 millionto $5.2 million, and a ring with an emerald-cut, 7.37-carat, fancy intenseorangey-pink, VS1 stone has been valued at $3 million to $5 million. Blue andyellow diamond rings are among the lots. Leading the Fine Jewels sale, meanwhile, will be a cushion-cut,52.89-carat Cartier blue sapphire and diamond ring estimated at between$125,000 and 150,000. Another anticipated high-seller is a diamond, ruby and sapphire ring with anestimate of $100,000 to $125,000. Sotheby's will also feature estate jeweler Fred Leighton'spersonal collection in The Jeweler's Eye auction, which it will hold directlyafter the Magnificent Jewels sale on April 18. Fine Jewels will follow on April 19. Previews for all threeauctions will begin in New York on April 13.