Many people falsely assume that all items put to auction are priceless jewels of legend and antiquity. It is true that a few of the more sought after pieces will receive more fanfare and press– thus, resulting in the general public’s perception that all items at auction are equally rare and similarly priced. But in general, there is a range of items sold at auction that have all been inspected and vetted to ensure provenance and quality, but many pieces are quite contemporary. Take Christie’s Magnificent Jewels auction earlier this week for example, the piece everyone was swooning over was a 50.52 carat pear-shape diamond pendant suspended from a 2.28 carat diamond that sold for approximately US$9.5 million dollars. The media was so taken with news of this sale that no one reported on the diamond, coral and lapis lazuli ear clips by Jean Schlumberger for Tiffany & Co. that sold for a song at US$25,000. Here is a selection of my favorite items from the auction:
50.52 carat D flawless pear-shaped pendant suspended from a 2.28 carat round diamond. Sold for US$9,490,500.
A pair of diamond, coral and lapis lazuli ear clips designed by Jean Schlumberger for Tiffany & Co. Estimated at $20,000-$30,000 and sold for US$25,000.
10.52 carat fancy light pink pear-shaped diamond ring, by Galt. Sold for US$2,210,500. Swooning? Read my post about investing in pink diamonds.
Pair of diamond ear pendants: 52.78 carat pear-shaped fancy yellow diamond to the surmount set with a 6.93 carat circular-cut diamond; the other ear pendant suspending a 50.31 carat pear-shaped diamond to the surmount set with a circular-cut 7.02 carat fancy yellow diamond. Estimated $4.6 to $6.5 million sold for a song at US$4,674,500.
Two-strand natural pearl necklace with 3 carat cushion cut diamond clasp. Sold for US$3,666,500. Remember my post about pearls and the statement that natural pearls are so rare these days that they are usually seen only in museums and in rare instances at auction? Yup, that justifies the price tag.
Pair of pink sapphire, yellow sapphire and diamond ear pendants, by Oscar Heyman & Brothers. Sold for $16,250.
Ruby and diamond ring, by Verdura. Sold for $25,000.
Magnificent jewels indeed! One cannot help but feel a bit light-headed from all the swooning that an auction entails. Christie’s Geneva Magnificent Jewels takes place on November 13th, I will have caught my breath by then only to fall all over myself yet again.
Big Kiss and Bigger Diamonds,