Christie’s concluded its Magnificent Jewels auction in New York on December 10, with a stunning $8.8 million sale of a 5.72-carat fancy intense blue diamond, surpassing its pre-sale estimate and marking the second highest price achieved for a jewel at auction globally this year. The auction, which boasted an impressive 97 percent sell-through rate by lot, raised a total of $49.2 million.
The blue diamond was the star of the sale, outshining other top lots, including a pair of spinel and diamond earrings by Harry Winston. These earrings, featuring two oval mixed-cut reddish-pink spinels weighing 22.42 and 21.87 carats, sold for $2.2 million, well above their estimate of $400,000 to $600,000. Another pair of Harry Winston diamond cluster earrings also exceeded expectations, selling for $1.9 million against a high-end estimate of $1.5 million.
The auction featured a diverse array of jewels, including pieces from prestigious houses such as Cartier, Tiffany & Co., Van Cleef & Arpels, and Suzanne Belperron. Among the highlights was a collection of jewelry belonging to Mica Ertegun, the late philanthropist and tastemaker, which fetched $2.6 million—nearly six times the low-end estimate. Ertegun’s collection, known for its exquisite taste and refined design, featured 16 lots, all of which sold. The standout piece from her collection was a Cartier Art Deco multi-gem and diamond brooch, which sold for $1.4 million following intense bidding, far exceeding its estimate of $100,000 to $150,000.
Born Ioana Maria “Mica” Banu in 1926, Ertegun was a key figure in New York’s social scene, founding the interior design firm MAC II with Vogue editor Chessy Rayner. Her clients included luminaries such as Keith Richards and Bill Blass. Town & Country editor Stellene Volandes described Ertegun’s jewelry collection as “supremely cultivated” and worn “with exquisite restraint.”
Other notable sales included a Suzanne Belperron diamond “Tube” bracelet, which sold for $945,000, far surpassing its estimate of $400,000 to $600,000, and a Bulgari multi-gem and diamond “Kilim” bracelet, which fetched $567,000 against an estimate of $150,000.
The auction also featured selections from the “Jewels as Art: Magnificent Jewels from a Private Collection” sale, which garnered $9.2 million, and the “Treasures of Love: Exceptional Jewels from a Private Collection,” which totaled $6.7 million. The top lot in the latter was a Van Cleef & Arpels “Ruban Mysterieux” necklace, which sold for $1.4 million, surpassing its estimate of $800,000.
Rahul Kadakia, Christie’s international head of jewelry, commented, “Today’s sale in New York was a testament to the vibrant market for jewelry of the highest caliber with singular provenance. We were particularly pleased with the result of the top lot—a fantastic fancy intense blue diamond ring that sold for $8.8 million. We were also deeply honored to sell jewels from several of the world’s most esteemed private collectors, including Mica Ertegun, whose collection we are thrilled to have offered.”
Christie’s will continue its auction series throughout December, showcasing more of Ertegun’s jewelry, as well as other exceptional items.
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