Sotheby’s London scored its highest value fine jewellery auction sale since the famous sale of Exceptional Jewels And Precious Objects Formerly In The Collection Of The Duchess Of Windsor which fetched £7.9 million in November 2010, a record at the time.
This Autumn sale fetched a total of £6,058,154 of mostly vintage jewellery alongside some outstanding modern creations. The auction saw signed jewels by leading jewellery houses competing with unsigned fine jewels to create fireworks during the bidding.
The £6 million Fine Jewels sale was a massive success, surpassing Sotheby’s London’s last two Fine Jewels sales combined. It realised more than double its expected low estimate value, making it the most successful multi-owner jewellery sale in Sotheby’s London’s history.
The sale is part of Sotheby’s Luxury Edit, a bi-annual luxury sale series, taking place in London, New York, Paris, and Hong Kong, that showcases an outstanding selection of pre-owned luxury objects designed by storied brands across fine jewellery fine watches, handbags, sneakers, wine and spirits, and more.
The sale was marked by a high number of pieces selling way above their high estimate.
The highest valued item sold on the day, a Kashmir sapphire and diamond ring, Monture Cartier, which had a pre-sale estimate of £70,000 – £90,000 sold for a staggering £431,800.
Extraordinary craftsmanship and vintage continue to captivate enthusiasts. A truly rare Lacloche Frères bracelet, featuring a floral petit point design embellished with solitary rose and brilliant-cut diamonds, framed by a moiré ribbon, with an estimated £40,000 – £60,000, achieved £228,600.
The sale confirmed a few other trends too. There seems to be a continued love affair between jewellery collectors and coloured stones, especially emeralds set in a vintage mount. For example, the Van Cleef & Arpels’ emerald and diamond set (pendant, bracelet, and brooch) from circa 1970, which was estimated at £60,000 – £80,000 but sold for £228,600. And the emerald and diamond necklace, circa 1960, also signed Van Cleef & Arpels, estimated at £100,000 – £200,000 achieved £342,900.
Nikita Binani, Head of Jewels, Sotheby’s London, commented, “This Autumn Fine Jewels sale proves to a dazzling degree that buyers are prepared be in stirring competition for jewels that represent distinct craftsmanship, design, and rarity.
Binani continued, “While prices soared in the salesroom for pieces from established jewellery houses such as Bulgari, Van Cleef & Arpels and Lacloche Frères, there was simultaneously a strong demand for exceptional quality stones.
“Colour took to the eyes of all our collectors worldwide with strong prices achieved in this sale for sapphires, emeralds and pink diamonds. The curation of the sale spanning both ends of the market, from antique to modern, resonated globally and highlighted the strength and appeal for a truly special jewel.”
An astounding 88.6% of the lots were sold in the sale. The auction’s success was further underscored by an impressive 98.6% of all lots exceeding their low estimates, and 74.2% of lots selling well above their high estimates, reflecting the strong appetite among jewellery connoisseurs.
The number of buyers from Asia surged by 29.5% compared to the previous sale, signifying their increasing participation in the global auction scene.
Meanwhile, North America also witnessed a substantial increase in buyers, with a remarkable 48% rise compared to the last sale.