Auctions

World record jewellery auction for Sotheby’s

Sotheby’s has set a new world record total for a jewellery auction – breaking six other world auction records in the process. 

The ‘Magnificent Jewels and Noble Jewels’ auction, which was held on Tuesday May 12 in Geneva, achieved a total of 149,851,375 Swiss Francs (£102.9m) – the world record for any jewellery auction beating Christie’s previous record of 147,256,875 Swiss Francs (£101.1m) – with 94% of its items selling.

The auction included the sale of the ‘Sunrise Ruby’, a rare 25.59-carat Burmese stone which sold for 28.3m Swiss Francs (£19.4), setting three new auction records including price for a ruby, price per carat for a ruby and price for any stone by Cartier.

‘The Historic Pink Diamond’, an extremely rare and “highly important” 8.72-carat fancy vivid pink diamond – which has been linked to Princess Mathilde Bonaparte, the niece of Napoleon I – was auctioned for 14.8m Swiss Francs (£10.1m).

Other world auction records broken at the event include the price for a pair of Burmese Sapphire earrings, record price for a Kashmir sapphire jewel and the price for a two-row natural pearl necklace.

David Bennett, chairman of Sotheby’s international jewellery division, said: “Tonight’s record result is the reflection of the outstanding quality of the pieces in the sale across the board. The ‘Sunrise Ruby’ captivated me from the moment I saw it – such an exquisite stone truly deserved the multiple-record-breaking price this evening.

“The exceptional results achieved for the other Cartier jewels in the sale – including two world auction records for sapphires – and for ‘The Historic Pink Diamond’ are evidence that the market for exceptional jewels is going from strength to strength.”

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