Storied Necklace Makes Bold Return at Sotheby's

RAPAPORT... Sotheby's brought in a total of $42 million at its Genevaauction Tuesday as an emerald and diamond necklace with royal connectionsfetched $3.6 million. The Van Cleef & Arpels Art Deco piece, which includesdiamonds, as well as 11 cabochon Colombian emeralds with a total weight of morethan 75 carats, went for more than double the price it achieved when it wasfirst sold at auction in 1994, Sotheby's noted. The necklace - whichcan be converted into bracelets - was created in the 1930s for H?(C)l??neBeaumont, an American socialite and close friend of Wallis Simpson, the duchessof Windsor. It was originally valued at $3 million to $4 million at theMagnificent Jewels and Noble Jewels sale. "Tonight we saw the enduring appeal of outstanding Art Decojewelry," said David Bennett, Sotheby's worldwide jewelry chairman. "TheBeaumont Necklace is the Chrysler Building of jewelry, instantly recognizableas an Art Deco masterpiece, and in my opinion, the greatest emerald and diamondnecklace of the period. I had the privilege to sell it a quarter of a centuryago, and achieving this landmark result tonight is a further testament to itsabsolute and timeless beauty." Other notable lots include a brilliant-cut, 36.57-carat,D-color, type IIa diamond, which garnered $5 million against an estimate of$4.5 million to $5.5 million. A signed Bulgari ring, set with a 5.14-caratBurmese ruby, fetched $328,355 per carat, or $1.7 million, beating its highestimate of $1.3 million. An 18.86-carat, D-color, type IIa diamond ring byHarry Winston also smashed its high estimate of $1.2 million, bringing in $1.4million at the auction. Sotheby's also sold a diamond tiara, made by Faberg?(C) in 1903for Duchess Cecilie von Mecklenburg Schwerin, the last crown princess ofPrussia. The headpiece, which was a present from her Russian relatives upon hermarriage to Crown Prince Wilhelm, achieved $434,346. It was valued at $200,000to $300,000. Sotheby's sold 77% of all lots on offer, it said, with closeto 60% of them fetching prices above their high estimate. Image: The Beaumont Necklace. (Sotheby's)