Auction house says it’s now on the map following million-dollar sale.
The Head of Jewellery at the US arm of Bonhams auctioneers has said that sales of second hand jewellery is on the up, following last week’s New York-based auction of fine jewellery totalling $4.5 million (£2.8m).
Susan Abeles, head of jewellery for Bonhams US, and Viginia Salem, director of Bonhams’ New York jewellery department, both described the auction on April 19 as a success.
They said: “The market is on the rise! Today we witnessed a room of active and engaged buyers who took time to learn about their pieces of interest during our previews.
“We were thrilled to see some of our seasoned, experienced collectors return to the auction room after several years, as well as, eager new buyers. The success of this sale is evidence of a rejuvenated desire to buy jewellery.”
The fine jewellery sale totalled $4,585,400 (£2.8m), and Bonhams’ says the results has “firmly established” its presence on the shortlist of participating auction houses during this season’s round of jewellery sales.
Strong prices were claimed for diamond solitaire rings, taking six of the top ten lots of the auction.
Leading the sale was a 14.82 carat diamond solitaire ring, with triangular cut shoulders and a plain mount which sold for $482,500 (£299,846), smashing the top end of its pre-sale estimate of $300,000 (£186,438).
Further rings, including a 20.59 carat cut-cornered rectangular-cut diamond solitaire, scooped $254,500 (£158,151).
Fine gemstones also drew the attention of several bidders. A purple sapphire, diamond and amethyst turtle brooch by Cartier, dubbed “whimsical” by Bonhams, sold for $68,500 (£42,576), when it had pre-sale estimate of $10,000-15,000.
Bonhams New York also said it has experienced a renaissance of late of Estate jewellery, in particular pieces dating from the belle époque era.