Van Cleef Ring Smashes Estimate at Bonhams

RAPAPORT... A blue diamond ring by Van Cleef & Arpels fetched morethan double its high estimate at Bonhams, leading an auction where thedesigner's jewels proved popular. The emerald-cut, 2.17-carat, fancy-intense-blue,VVS2-clarity diamond, accented by round brilliant-cut diamonds, sold for $2.5million, or $1.2 million per carat, beating its $1.2 million high presaleestimate at last week's New York Jewels sale. An unmounted circular-cut, 11.11-carat, E-color diamond withVS2 clarity sold for $400,075, against an estimate of $250,000 to $450,000. A pear-shapedbrilliant, 12.18-carat, H-color, VS1-clarity diamond ring also sold within itsestimate, garnering $375,075 versus a valuation of $290,000 to $390,000. Other notable pieces included a cushion modified,24.64-carat, fancy-yellow diamond ring with SI1 clarity. The jewel, which wasestimated at $270,000 to $370,000, went for $318,825. Meanwhile, three Van Cleef pieces were highlysought after, with two breaking the top 10. A square-shaped emerald-cut,6.09-carat, fancy-vivid-yellow, VVS2-clarity ring by the designer brought in$312,575, far exceeding its $180,000 high estimate. An oval-shaped, 21.56-caratBurmese sapphire and diamond ring fetched $306,325 against an estimate of$250,000 to $350,000, while a bidding war ensued for an 18-karat gold and rubybutterfly brooch from 1940. That piece garnered $81,325. "This sale demonstrated an appetite for signed iconic andunique jewels," said Brett O'Connor, Bonhams's senior international jewelrydirector. "In particular, rare and colored diamonds achieved notable prices ina full auction room with bidding coming from around the globe. The sale...far [exceeded]its presale estimate." Overall, Bonhams sold 91% of lots by value, for a total of$6.7 million. The auction house's next jewelry sale will take place October 16in London. Image: The Van Cleef & Arpels blue diamond ring. (Bonhams)