Fancy Pink diamond ring

Yesterday’s Sotheby’s sale of Magnificent Jewels sale, which brought CHF 17,909,925 ($ 14,839,089), was highlighted by a Fancy Pink diamond ring weighing 8.02 carats which sold for CHF 1,594,500 ($ 1,321,107). Tonight’s total brings Sotheby’s Geneva sales of jewellery in 2008 to CHF 77,887,275, topping the 2006 total of CHF 74,683,600.

Commenting on the sale, David Bennett, Sotheby’s Chairman of Jewellery, Europe and the Middle East, said: “Tonight’s sale was assembled in the wake of our near-all-time record Geneva Jewels sale last May and most of the property was consigned and valued prior to the turmoil in the financial markets. As we saw in this evening’s sale, the diamond market is currently in a period of transition and it will probably not be clear where it is headed until the end of the year. As in all markets in transition, potential buyers were reluctant to commit to purchase, which resulted in the three top diamond lots remaining unsold. We nevertheless did see bidding activity for a number of lots. There was competition on the Magnificent Natural Pearls, the Golconda Diamond Ring by JAR, as well as a bid on the Blue Diamond. Tonight’s total is comparable to the level of economic activity in our May 2005 sale. Tonight’s results do not reflect on the Jewels offered in the sale this evening which are of exceptional quality”.

Magnificent and Extremely Rare natural pearl, emerald and diamond necklace

Extremely Fine and Very Impressive Pearl and diamond necklace

Natural pearls performed well in the sale with a superb necklace made of natural pearls, embellished by a clasp set with a circular-cut emerald surrounded by diamonds, selling for CHF 1,594,500 (lot 432) and a necklace composed of nine detachable strands of pearls measuring 3.4mm to 11.7mm, held by a rectangular clasp set with diamonds, achieving CHF 1,142,500 (lot 433).

Exceptional diamond ring, JAR

An exceptional 11.70 carat, D colour, Golconda type diamond, mounted in a ring by Jar sparked competitive bidding selling to a European private for CHF 1,202,500 (lot 423).

Diamond ring, Harry Winston

A D colour, VVS1 clarity, type IIA diamond of 10.50 carats mounted in a ring by Harry Winston realised CHF 1,034,500 (lot 401).