December is when most jewelry stores do the lion’s share of their business and that translated to the recent Sotheby’s New York Magnificent Jewels auction, which reached nearly $50 million in sales for the one day event.
The leading lot was that featuring a 6.54 carat pink diamond by Oscar Heyman & Brothers, pictured above. The fancy intense pink diamond had belonged to Evelyn Lauder, and sold for an eye catching $8.6 million dollars, translating to about $1.3 million per carat. Six bidders went toe-to-toe in the bidding for the internally flawless stone.
Other lots of note included a 52 carat vivid yellow diamond ring that sold for $3.9 million, a 22 carat potentially flawless diamond ring that sold for 3.4 million, and a heart shaped, 47 carat, fancy intense yellow diamond pendant that sold for 2.5 million. The heart shape pendant was owned in the 1970’s by The Duchess of Windsor, when it was purchased directly by Estee Lauder.
Proceeds from the auction went to benefit The Breast Cancer Research Foundation. The non-profit foundation was founded almost 20 years ago by Evelyn Lauder.
Believe it or not, there was more to be had at Sotheby’s in New York on that same day. Jewels from the Mrs. Charles Wrightsman collection sold for an additional $15.5 million, making their one day total $64.8 million. That total set a new one-day sales record for Sotheby’s in New York, and adds to the record year for the auction house in terms of jewelry sales. In 2012, Sotheby’s worldwide had sold over $450 million in jewelry sales alone.
Raymond Z for Raymond Lee Jewelers, South Florida’s premiere source for buying and selling luxury watches and designer jewelry.