Sotheby’s sales achieve £19.5 million in New York

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Magnificent Jewels wow while 100% of John Traina lots sell.

Sotheby’s in New York is celebrating after two of its jewellery sales achieved a total $30.4 million (£19.5m), with a white glove sale – 100% sold – in its Elegant John Traina auction while its Magnificent Jewels sale attracted a total $28.5m (£18.3m) in bids.

The Elegant John Traina – A Portrait in Style auction more than tripled its pre-sale high estimate of $570,000 in bringing $1,921,755 (£1.23m), while the Magnificent Jewels auctions achieved a total £18.3m in sales, led by top prices for white diamonds, natural pearls, sapphires and emeralds.

Lisa Hubbard, co-chairman of Sotheby’s International jewellery department said: “As has been the case throughout our recent auctions, yesterday’s sales saw persistent demand and strong results for unique and signed jewels.”

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All of the 92 items in the John Traina auction sold, led by a platinum, cabochon sapphire and diamond set by Cartier, circa 1920, that sold for £116,807.

A total 226 of the 340 lots in the Magnificent Jewels auction were sold, with the lead lot – a 23.6ct oval diamond ring of G colour VS1 clarity sold for £1,199,757 to a private Asian collector, followed by a platinum and diamond sautoir necklace by Cartier, from 1924, that sold for £1,056,388 to a second private collector from Asia.

Gary Schuler, head of Sotheby’s jewellery department in New York said: “The one-of-a-kind Platinum and Diamond Sautoir Necklace by Cartier sold for $1,650,500 (£1.05m), above a high estimate of $1 million, while exceptional white diamonds and natural pearls brought top prices throughout the day.

“Though we are disappointed to have not found buyers yesterday for our top two stones amongst the rarified group of collectors at the highest end of our market, the results for the remainder of the sale demonstrate a continued demand for pieces of quality and unique character.”
 

 

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