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Record-setting Jewels Auctioned off by Sotheby's

19 May / 11
Record-setting Jewels Auctioned off by Sotheby's
The Magnificent & Noble Jewels sale, held semi-annually by Sotheby's, boasted a wide array of exquisite diamond jewellery along with rare period pieces and over-the-top expensive fancy colour diamonds.

The grand auction, that took place on May 17 in Geneva, had two star lots – a large fancy pink diamond and a diamond and emerald tiara, which was allegedly part of private collection owned by Princess Katharina Henckel von Donnersmarck. The 10.99ct diamond, mounted on a platinum ring, was a privately-owned jewel and had been hidden from the market for over 30 years. An anonymous bidder shelled out $10.9 million on the magnificent stone, making it the third most valuable diamond sold by auction.

The diamond and emerald tiara was a record setter in the sale. With a pre-sale estimate of $5 to $10 million, the stunning piece fetched $12.76 million. "It is needless to say a world record price at auction for a tiara," said David Bennett, chairman of Sotheby's Europe and Middle East jewellery department, as he put down the hammer to applause.

The auction sold about 90 percent of all the jewels and collectibles on offer, totalling in 89.5 million dollars.
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