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Friday, April 15, 2011

Magnificent Jewels Bring $39.4 Million at Sotheby's New York, Beating High Estimate

Today’s sale of Magnificent Jewels at Sotheby’s New York achieved a spectacular $39,367,350, exceeding the pre-sale high estimate of $35.6 million and selling 84.2% by lot. This represents the highest-ever total for a spring auction of jewelry at Sotheby’s New York, and marks the highest total for any jewelry sale in New York thus far this season.

The sale was characterized by a series of incredible prices for unique, top-quality diamonds and designs, which attracted a global audience of both private collectors and members of the trade. 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 $7,885,125, more than double its high estimate.

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