The Christie’s New York Magnificent Jewels auction held last Tuesday was a grand success that set the record for the most valuable pink diamond ever sold in the United States. There were a total of 305 lots that went under hammer but the collection from the estate of Huguette M. Clark was the highlight of the auction and witnessed the most aggressive bidding. The auction held in the Woods Room at Chistie’s attracted participation from internet and phone buyers from around the world apart from many who participated physically.
It was a highly competitive environment with large diamonds and sapphires witnessing lengthy bids. Natural pearls also seemed to be popular as they make a successful comeback in the international luxury jewelry market. The Clark Pink, a 9 carat purplish pink diamond ring made in 1910 by Dreicer & Co. fetched the highest price of $15.7 million. The ring from the Huguette M. Clark estate became the most valuable pink diamond ever sold in the United States. The Perfect Diamond that went for $7.4 million is a 44.09-carat rectangular-cut diamond ring with flawless clarity, excellent polish and symmetry. The surprise of the auction was a 31.53-carat sugar-loaf cabochon Kashmir sapphire ring by Van Cleef & Arpels which was originally valued between $300,000 and $500,000 but ultimately sold for a cool $2.65 million. It was a record price for a cabochon sapphire. The Clark Diamond was another ring from the Huguette M. Clark estate that fetched $3.1 million. There were other rings by Graff and Van Cleef & Arpels that sold for around $2 million each.
Natural pearl necklaces made a strong comeback in the auction with practically all the pieces selling for much higher than the pre sales estimates. A five strand necklace went for $1.67 million against an estimate of $800,000. A single strand necklace from the Huguette M. Clark estate, sold for $362,000 while its value was estimated between $20,000 and $30,000.