The excitement had been building  up over the past few months, ever since Christie’s announced the Maharajas & Mughal Magnificence sale, with its exquisite collection spanning over 500 years of history. After a global tour of the collection of Indian jewels and jewelled objects, the auction, which was held in New York on June 19, realised every promise that was intrinsic in the build-up.

Christie’s said that thousands of people flocked its showrooms where the auction was conducted over a period of 12 hours and presided over by five auctioneers.

The end result? The Maharajas & Mughal Magnificence  collection totalled US$109,271,875 / £87,138,656 — the highest for any auction of  Indian art and Mughal objects, and the second highest for a private jewellery collection. 

Of the almost 400 lots (ranging from legendary Golconda diamonds to dazzling coloured stones, jewelled objects used in the royal courts to swords and daggers once owned by Indian rulers)  that were offered, 93 per cent were sold by lot and 92 per cent sold by value.

Bidders came from 45 countries, and included a significant number of institutions, the auction house said.  

“Beginning with the sale announcement in April, there has been an overwhelming response to this exceptional collection,” said Rahul Kadakia, International Head of Jewellery at Christie’s, after the auction. “Momentum has been building from the international tour to the New York exhibition culminating with the excitement witnessed in the saleroom.”

Some of the breathtaking results include:

• an antique diamond Rivière necklace sold for US$2,145,000 
• a diamond and emerald bead brooch by Bhagat achieved US$399,000 
• a five-strand natural pearl and diamond necklace, also by Bhagat, fetched US$1,695,000 
• a natural pearl and diamond necklace was acquired for US$1,095,000  

“After 150 lots, 10 had sold for in excess of US$1 million,” Christie’s revealed. “A world auction record was set for an Indian / Mughal huqqa, or water pipe at US$759,000, and a folio from The Late Shah Jahan Album narrowly missed out on another when it made US$615,000.”

Amongst the more notable items in the collection were a number of outstanding Golconda diamonds, including the Mirror of Paradise and the Arcot II. “The latter, which has a storied past that includes the Nawab of Arcot and Queen Elizabeth II, sold for £3,375,000,” stated Christie’s. “The former, a rectangular-cut diamond of 52.58 carats, achieved US$6,517,500. Later, an extremely rare, large portrait-cut diamond of 20.22 carats fetched US$1,095,000.”

An enamelled and gem-set model of a parrot which had proved to be a favourite on the  international   tour prior to the auction, “soared past its high estimate to achieve US$1,035,000”, Christie’s said.

Other remarkable sales included   an elephant brooch by JAR  which sold for  more than five times its low estimate at US$555,000; a Belle Époque diamond jigha  which sold for US$1,815,000; a stunning gem-set mace which realised US$747,000 -- more than 10 times its low estimate; and an antique emerald sarpech  by Cartier which went for US$915,000. 

“One of many star lots, an Art Deco emerald belt buckle by Cartier drew applause from the room when it sold for $1,545,000 — more than three times the low estimate,” Christie’s noted, recounting the excitement at the sale. “The buckle was designed for Sybil Sassoon, Marchioness of Cholmondeley, who wore it to the coronations of King George VI in 1937 and Queen Elizabeth II in 1953.” 

And, soon after that,  ‘The Patiala Ruby Choker’, one of the most impressive jewels from the collaboration between the Maharaja of Patiala and Cartier, fetched US$975,000. 

 A ceremonial sword of the Nizam of Hyderabad realised US$1,935,000, setting a new world auction record for an Indian sword, followed immediately by the Nizam of Hyderabad Necklace, which sold for the same price.

“Lot 277 produced the highest price of the sale — a Belle Époque devant-de-corsage by Cartier, bought for US$10,603,500,” Christie’s affirmed. “Made-to-order in 1912 for Solomon Barnato Joel, who made his fortune in the South African diamond mines, it is a stunning example of the delicate ‘Lily-of-the-Valley’ setting used by Cartier at the time.

Then there was ‘The Baroda Pearl Canopy’ (composed of approximately 950,000 ‘Basra pearls’, emeralds, sapphires, rubies and coloured glass beads) which almost trebled its low estimate to make US$2,235,000. And, moments later, an antique imperial spinel necklace did likewise, the auction house said, selling for US$3,015,000.

Moving into its final stages, an exquisite ibex-headed carved jade cup from circa 1660-1680 realised US$1,095,000; an antique imperial spinel and pearl necklace sold for US$1,035,000; and a pair of emerald, natural pearl, ruby and diamond clips by Cartier achieved US$1,695,000. 

“The penultimate lot of the sale, The Shah Jahan Dagger, sold for US$3,375,000, establishing the record price for an Indian jade object and the record for a piece with Shah Jahan provenance,” Christie’s said.

And  the final lot — The ‘Taj Mahal Emerald’ brooch by Cartier — sold for US$1,815,000.

“This incredible collection traced the history of Mughal jewels and objects to present day” said William Robinson, International Head of World Art at Christie’s. “From exceptional daggers worn by the elite nobles and royal families of India to important jewels inspired by Indian tradition and architecture, the auction represented a significant cultural moment for Indian and Islamic art. We are delighted with the strong results witnessed across the category.”

Pic Cap: A Belle Époque diamond jigha, 1907 and remodelled circa 1935. Sold for US$1,815,000 on 19 June 2019 at Christie’s in New York

Pic Courtesy: Christie’s