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RAPAPORT: APRIL 15, 2011: NY Jewelry Auctions Top $70M
RAPAPORT... Rapaport News presents special close-up footage and interviews from the April auction of magnificent jewels out of Christie's and Sotheby's New York. Christie's New York Magnificent Jewels sale garnered $31792875 and was 80% sold by lot, 71% sold by value. Top lots included a cut-cornered rectangular-cut D, IF diamond of 37.16 carats that sold for $4450500; a square emerald-cut fancy vivid blue, IF diamond of 3.25 carats that sold for $3666500; a rectangular-cut, fancy intense pink diamond of 6.61 carats, VS2, sold for $3554500; a modified cushion-cut, fancy vivid yellow, VS1, diamond ring of 50.29 carats, by Carvin French sold for $2546500; a pear-shaped, D, VS1 diamond ring of 16.41 carats, by Van Cleef & Arpels, fetched $1082500; a rectangular-cut, D, VVS2 diamond ring of 9.68 carats, by Harry Winston, sold for $962500. The sale was held in Manhattan on April 12, 2011. Sotheby's Magnificent Jewels sale, which was held on April 14, in New York, achieved $39367350, exceeding the pre-sale high estimate of $35.6 million and selling 84.2% by lot and 93% by value. The sale total represented the highest-ever for Sotheby's New York spring auction of jewelry. Competition was especially fierce for Magnificent Jewels from a Distinguished Family Collection--a wonderful group featuring romantic diamonds and fabulous Cartier designs from the firm's creative peak--that brought $7885125, more than double its high estimate.