Van Cleef & Arpels Necklace From 1929 Sells for $3.6M at Auction
The rare piece went home with a Sotheby’s executive.
![A tie necklace from Van Cleef & Arpels, circa 1929, sold for three times its estimate at Sotheby’s jewelry auction on Friday, going for $3.6 million. Van Cleef & Arpels 1929 tie necklace](https://production-nationaljeweler-bucket.s3.us-east-2.amazonaws.com/uploads/2d1d9c8ec622285ee18f36fe5144fe94.jpg)
Following a six-minute battle among seven bidders, it sold to Catharine Becket, Sotheby’s head of Magnificent Jewels, for $3.6 million, three times its highest pre-sale estimate of $1.2 million.
Another executive, Geoff Hess, Sotheby’s head of watches in the Americas, also recently purchased a piece at auction—a Patek Phillipe from the sale of Sylvestor Stallone’s private collection earlier this month.
The necklace, pictured at the top of the article, was created in 1929.
It provided the framework to showcase geometric-shaped diamonds characteristic of the Art Deco movement, and it’s likely only a few examples were ever made.
“Our clients seek jewels not just for adornment but as pieces of history and artistry, encapsulating the essence of their designers and eras, none more so than the Art Deco Van Cleef & Arpels diamond tie necklace, which sold for a staggering $3.6 million,” said Quig Bruning, Sotheby’s head of jewels for Americas and EMEA.
“Its appearance on the auction block perfectly demonstrates our unique ability to offer jewels of unparalleled rarity, exclusivity, and of the best quality."
The “Magnificent Jewels” sale, held Friday, totaled $30 million with 90 percent of lots sold and 62 percent of sold lots achieving prices above their high estimate.
Eight out of the 10 most valuable jewels in the sale sold above $1 million, said Sotheby’s.
Another Art Deco piece, an Egyptian-inspired colored stone and diamond bracelet from 1925 went for more than $1 million, well above its estimate of $250,000 to $350,000.
It sold to U.K.-based luxury retailer Symbolic and Chase.
![An example of Egyptian Revivalism, the bracelet features a depiction of the goddess Isis, as well as Horus falcons and papyrus reeds, set throughout with diamonds, rubies, sapphires, emeralds, and black onyx. Sotheby’s 1925 Egyptian bracelet](https://nationaljeweler.com/rails/active_storage/representations/redirect/eyJfcmFpbHMiOnsibWVzc2FnZSI6IkJBaHBBbE5YIiwiZXhwIjpudWxsLCJwdXIiOiJibG9iX2lkIn19--7a3ce6e571d3fbe5043dcd1568e37a0a58d48964/eyJfcmFpbHMiOnsibWVzc2FnZSI6IkJBaDdERG9MWm05eWJXRjBTU0lJYW5CbkJqb0dSVlE2RkhKbGMybDZaVjkwYjE5c2FXMXBkRnNIYVFJQUJHa0NBQU02RkhOaGJYQnNhVzVuWDJaaFkzUnZja2tpQ2pRNk1qb3dCanNHVkRvS2MzUnlhWEJVT2c1cGJuUmxjbXhoWTJWSklnbEtVRVZIQmpzR1ZEb1BZMjlzYjNKemNHRmpaVWtpQ1hOU1IwSUdPd1pVT2d4eGRXRnNhWFI1YVZBPSIsImV4cCI6bnVsbCwicHVyIjoidmFyaWF0aW9uIn19--ea15daad36a7f7266e7d591867d534d851352260/20246010_Egyptian%20bracelet.jpg)
A strong appetite for sapphires was apparent, Sotheby’s said.
Friday’s auction included an assortment of Kashmir sapphires, which the auction house said continue to drive strong prices.
A sapphire and diamond ring by Marcus & Co. featuring a 10.31-carat cushion-cut sapphire sold for nearly $2 million, or $192,047 per carat, against an estimate of $500,000 to $700,000.
![A sapphire ring from American jeweler Marcus & Co. sapphire ring Marcus & Co.](https://nationaljeweler.com/rails/active_storage/representations/redirect/eyJfcmFpbHMiOnsibWVzc2FnZSI6IkJBaHBBbFJYIiwiZXhwIjpudWxsLCJwdXIiOiJibG9iX2lkIn19--b9dd33ac24cf627b35c22666dcafd6f30a0f67df/eyJfcmFpbHMiOnsibWVzc2FnZSI6IkJBaDdERG9MWm05eWJXRjBTU0lJYW5CbkJqb0dSVlE2RkhKbGMybDZaVjkwYjE5c2FXMXBkRnNIYVFJQUJHa0NBQU02RkhOaGJYQnNhVzVuWDJaaFkzUnZja2tpQ2pRNk1qb3dCanNHVkRvS2MzUnlhWEJVT2c1cGJuUmxjbXhoWTJWSklnbEtVRVZIQmpzR1ZEb1BZMjlzYjNKemNHRmpaVWtpQ1hOU1IwSUdPd1pVT2d4eGRXRnNhWFI1YVZBPSIsImV4cCI6bnVsbCwicHVyIjoidmFyaWF0aW9uIn19--ea15daad36a7f7266e7d591867d534d851352260/20240610_Sapphire%20ring.jpg)
A ring featuring a 16.68-carat Madagascar sapphire fetched three times its estimate of $60,000 to $80,000, selling for $312,000.
Also, a Cartier ring with a 14.51-carat sugarloaf cabochon sapphire sold for $1.8 million or $124,052 per carat. Its pre-sale estimate was $800,000 to $1.2 million.
While more than half of lots in the Magnificent Jewels sale went for more than expected, one did not.
The “Lavender Dream,” a pinkish purple diamond, which was estimated to go for $1 million to $1.5 million, was not sold.
Sotheby’s sold 85 percent of the white diamonds offered in Friday’s sale.
Of those, a Type IIa, internally flawless 53.04-carat diamond of D color was the leading lot. The pear-shaped loose stone sold for $3.5 million, within its estimate of $3 million to $5 million.
![A 53-carat diamond that sold for $3.5 million, or $65,611 per carat Sotheby’s 53 carat diamond](https://nationaljeweler.com/rails/active_storage/representations/redirect/eyJfcmFpbHMiOnsibWVzc2FnZSI6IkJBaHBBbFZYIiwiZXhwIjpudWxsLCJwdXIiOiJibG9iX2lkIn19--912d83d7c644c8eab5817675e9788089d5255a8b/eyJfcmFpbHMiOnsibWVzc2FnZSI6IkJBaDdERG9MWm05eWJXRjBTU0lJYW5CbkJqb0dSVlE2RkhKbGMybDZaVjkwYjE5c2FXMXBkRnNIYVFJQUJHa0NBQU02RkhOaGJYQnNhVzVuWDJaaFkzUnZja2tpQ2pRNk1qb3dCanNHVkRvS2MzUnlhWEJVT2c1cGJuUmxjbXhoWTJWSklnbEtVRVZIQmpzR1ZEb1BZMjlzYjNKemNHRmpaVWtpQ1hOU1IwSUdPd1pVT2d4eGRXRnNhWFI1YVZBPSIsImV4cCI6bnVsbCwicHVyIjoidmFyaWF0aW9uIn19--ea15daad36a7f7266e7d591867d534d851352260/20240610_53%20carat%20diamond.jpg)
A pendant necklace by Graff featuring a 16.06-carat emerald-cut diamond sold for slightly above its $1 million high-end estimate, going for $1.02 million or $63,512 per carat.
![A Graff necklace with an internally flawless diamond of D color and VVS1 clarity Sotheby’s Graff pendant necklace](https://nationaljeweler.com/rails/active_storage/representations/redirect/eyJfcmFpbHMiOnsibWVzc2FnZSI6IkJBaHBBbFpYIiwiZXhwIjpudWxsLCJwdXIiOiJibG9iX2lkIn19--3a9b6305eeb19aa549dd312fe8c5a9031cd4db0b/eyJfcmFpbHMiOnsibWVzc2FnZSI6IkJBaDdERG9MWm05eWJXRjBTU0lJYW5CbkJqb0dSVlE2RkhKbGMybDZaVjkwYjE5c2FXMXBkRnNIYVFJQUJHa0NBQU02RkhOaGJYQnNhVzVuWDJaaFkzUnZja2tpQ2pRNk1qb3dCanNHVkRvS2MzUnlhWEJVT2c1cGJuUmxjbXhoWTJWSklnbEtVRVZIQmpzR1ZEb1BZMjlzYjNKemNHRmpaVWtpQ1hOU1IwSUdPd1pVT2d4eGRXRnNhWFI1YVZBPSIsImV4cCI6bnVsbCwicHVyIjoidmFyaWF0aW9uIn19--ea15daad36a7f7266e7d591867d534d851352260/20240610_Graff%20necklace.jpg)
Two oval-shaped diamond rings also sold—one signed by Graff, featuring a 21.54-carat stone of D color and VVS2 clarity, which sold for $1.4 million (est. $1 million to $2 million), and the other a 6.73-carat diamond of the same color and VS1 clarity, which went for $540,000 against a high estimate of $200,000.
A three-strand necklace featuring natural pearls, cultured pearls, and diamonds achieved $552,000.
The piece was estimated to sell for $50,000 to $70,000.
![A necklace of graduated natural and cultured pearls with a clasp made of a semi-baroque pearl framed by diamonds three-strand pearl necklace Mary Ethel Weinmann](https://nationaljeweler.com/rails/active_storage/representations/redirect/eyJfcmFpbHMiOnsibWVzc2FnZSI6IkJBaHBBbGRYIiwiZXhwIjpudWxsLCJwdXIiOiJibG9iX2lkIn19--56f89df449ed1a7a8d415a30be070231f588f070/eyJfcmFpbHMiOnsibWVzc2FnZSI6IkJBaDdERG9MWm05eWJXRjBTU0lJYW5CbkJqb0dSVlE2RkhKbGMybDZaVjkwYjE5c2FXMXBkRnNIYVFJQUJHa0NBQU02RkhOaGJYQnNhVzVuWDJaaFkzUnZja2tpQ2pRNk1qb3dCanNHVkRvS2MzUnlhWEJVT2c1cGJuUmxjbXhoWTJWSklnbEtVRVZIQmpzR1ZEb1BZMjlzYjNKemNHRmpaVWtpQ1hOU1IwSUdPd1pVT2d4eGRXRnNhWFI1YVZBPSIsImV4cCI6bnVsbCwicHVyIjoidmFyaWF0aW9uIn19--ea15daad36a7f7266e7d591867d534d851352260/20240610_Pearl%20necklace.jpg)
The necklace once belonged to philanthropist Mary Ethel Weinmann, the youngest daughter of Count and Countess Andre de Limur and the great granddaughter of Charles Crocker, one of the “Big Four” who built the Central Pacific Railroad, part of the first transcontinental railroad.
A natural pearl and diamond necklace signed Tiffany & Co. sold for $300,000 against a pre-sale estimate of $40,000 to $60,000.
Also, a pair of drop-shaped natural pearls and diamond ear clips by Harry Winston sold for $396,000 (est. $200,000 to 300,000).
More than 1,200 bids were placed at Magnificent Jewels, and the sale saw nearly a third of new registrants, Sotheby’s said, which it attributes to its reduced buyer’s premium—a standardized 20 percent.
“Coming off the back of four single-owner sales which achieved 100 percent sell-through rates and successful sales in Geneva, the results of our New York sale prove that the market remains vibrant and dynamic,” said Quig Bruning, Sotheby’s head of jewels for Americas and EMEA, of Friday’s results.
“Moreover, we’re encouraged to see that two-thirds of jewels have sold above their high estimates since our lower buyer’s premium came into effect on May 20, confirming that a fairer fee structure is the definition of client-first, and not only encourages more buyers to participate at auction, but also reiterates that Sotheby's is open to all.”
The auction house recorded participation from 30 countries in North America, Europe, and across Asia, including Hong Kong, mainland China, Singapore, and Taiwan.
The Latest
![This satellite image from the National Oceanic and Atmospheric Administration captured Hurricane Idalia approaching the western coast of Florida in late August 2023, while Hurricane Franklin can be seen in the Atlantic Ocean. Jewelers Mutual Group is sharing safety tips for jewelers in time for the 2024 hurricane season. National Oceanic and Atmospheric Administration hurricane satellite image](https://production-nationaljeweler-bucket.s3.us-east-2.amazonaws.com/uploads/3241d26cf0239dbdb06644f4b6152b3e.jpg)
Jewelers Mutual is advising jewelers along the coast to prepare for above-normal hurricane activity this year.
![Sara Yood, left, will become the new president, CEO, and general counsel of the JVC on June 24. She succeeds Tiffany Stevens, who is leaving the organization after seven and a half years. JVC’s Sara Yood and Tiffany Stevens](https://production-nationaljeweler-bucket.s3.us-east-2.amazonaws.com/uploads/228c5278dafaf1510e23d1f54f480ba4.jpg)
The leadership change at the organization charged with guiding the industry on legal issues will take effect next week.
![Helen Molesworth’s new book, “Precious: The History and Mystery of Gems Across Time,” is a blend of gemology, history, pop culture, and her own story. Precious: The History and Mystery of Gems Across Time](https://production-nationaljeweler-bucket.s3.us-east-2.amazonaws.com/uploads/afe2a606e2edce304049111d98eb4258.jpg)
“Precious: The History and Mystery of Gems Across Time” will be available on Sept. 17.
![Untitled design.jpg](https://production-nationaljeweler-bucket.s3.us-east-2.amazonaws.com/uploads/583fbcb2bb839782810080debef35d3c.jpg)
As the demand for lab-grown diamond jewelry may still be increasing, the most notable change we are likely to see is price stabilization.
![Chris Cramer, Claire’s chief financial officer and chief operating officer, has been named interim CEO following the resignation of Ryan Vero. He will continue as CFO and COO in addition to being interim CEO. Claire’s interim CEO Chris Cramer](https://production-nationaljeweler-bucket.s3.us-east-2.amazonaws.com/uploads/9aa28b30e08ed65f8c3ba76bef770efa.jpg)
Chief Financial Officer and Chief Operating Officer Chris Cramer has been named interim CEO.
![](https://production-nationaljeweler-bucket.s3.us-east-2.amazonaws.com/uploads/99a46b30cc354962ac2e29ecd113587a.jpg)
![From left to right, industry leaders Ronnie VanderLinden, David Bonaparte, Matthew Swibel, Dave Meleski, and Jon Bridge (not pictured), visited the U.S. Capitol last week to meet with lawmakers to discuss import restrictions on Russian diamonds. Jewelers of America advocacy trip DC 2024](https://production-nationaljeweler-bucket.s3.us-east-2.amazonaws.com/uploads/86b97037eeeb45710cf90d34afdd5566.jpg)
The group met with lawmakers to raise awareness about the financial, operational, and supply chain harms posed by an EU proposal.
![A gold and opal necklace, circa 1900, by Louis Comfort Tiffany is one of more than 200 jewels featured in the Driehaus Museum’s new jewelry exhibition. (Photo by Michael Tropea) Louis Comfort Tiffany 1900 gold and opal necklace](https://production-nationaljeweler-bucket.s3.us-east-2.amazonaws.com/uploads/83ad31595d5b377e03da8eac4f87f04d.jpg)
The museum also will host jewelry heist-themed movie nights throughout the run of “Chicago Collects: Jewelry in Perspective.”
![1872 x 1052 Gemolite.jpg](https://production-nationaljeweler-bucket.s3.us-east-2.amazonaws.com/uploads/9d60901b44425a53b9010301897a3bbc.jpg)
GIA®’s most advanced microscope has new features to optimize greater precision and comfort.
![The first chapter, “Milan’s Monochromatic Treasures,” focuses on the architecture of the city, while “Milanese Color Prism” interprets the artistic creativity present in Milan. Models wearing Pomellato’s “The Dualism of Milan” collection](https://production-nationaljeweler-bucket.s3.us-east-2.amazonaws.com/uploads/d1c7e07c96063c8abd0da9e6910c7dfe.jpg)
“The Dualism of Milan” collection features two chapters representing the monochromatic and colorful spirit of the city.
![Zales has added Dorian Webb (left) and Ursula and Kealeboga Pule of Nungu Diamonds to its Designer Edit. Dorian Webb, Kealeboga and Ursula Pule](https://production-nationaljeweler-bucket.s3.us-east-2.amazonaws.com/uploads/ba6be7412172929ad63891f18b5acae1.jpg)
The Designer Edit, launched earlier this year, highlights up-and-coming jewelry designers.
![The National Association of Jewelry Appraisers mid-year conference will take place in connection with the Instore show, slated for Aug. 10 to 12 at the Donald E. Stephens Convention Center in Rosemont, Ill. National Association of Jewelry Appraisers Logo](https://production-nationaljeweler-bucket.s3.us-east-2.amazonaws.com/uploads/f8f692a1d58ae95707dbb486111b77bd.jpg)
The conference will focus on the “practical ‘how to’ of appraising gems and jewelry,” said NAJA Executive Director Gail Brett Levine.
![Al Cook became CEO of De Beers Group in early 2023, succeeding longtime De Beers executive Bruce Cleaver. During an interview at JCK Las Vegas, he discussed the timeline for Anglo American’s sale or demerger of De Beers, the new plan to promote natural diamonds with Signet, and its future plans for the Lightbox factory in Oregon. De Beers CEO Al Cook](https://production-nationaljeweler-bucket.s3.us-east-2.amazonaws.com/uploads/5b804370945780be5f88b012a47a4753.jpg)
The De Beers CEO discussed the Anglo American situation, natural diamond marketing, and why the future of lab-grown diamonds is technology.
![Bernd Munsteiner, the gem cutter renowned for developing the fantasy cut, died on June 6 surrounded by his family in Stipshausen, Germany. Bernd Munsteiner](https://production-nationaljeweler-bucket.s3.us-east-2.amazonaws.com/uploads/cd76e22e7e091a0ec8a1f78f9b5e1dd4.jpg)
Known to many as the “Picasso of gems" who modernized the gem cutting field, he is remembered by his family as going through life with open eyes.
![Thomas Markle Jewelers will soon relocate its Houston flagship store. Seen here is a rendering of the new space just across the street. Thomas Markle Jewelers interior](https://production-nationaljeweler-bucket.s3.us-east-2.amazonaws.com/uploads/3d85373e05b8416df9012c4a83de804b.jpg)
The Houston-based family jeweler is relocating its flagship just across the street.
![CRJC attendees will have access to the Instore Show’s show floor, education programs, and evening networking events. Instore and Chicago Responsible Jewelry Conference Logos](https://production-nationaljeweler-bucket.s3.us-east-2.amazonaws.com/uploads/a338d70b904090b4c46ce7f1045700f6.jpg)
The partnership, now in its second year, allows CRJC attendees to register for a free Instore show badge.
![Stock image of a gavel](https://production-nationaljeweler-bucket.s3.us-east-2.amazonaws.com/uploads/97c42635a4db760cd379976d7316699f.jpg)
In court, Daniel Hutchinson’s loved ones remembered the jeweler as a giver, a role model, and a leader.
![Jade Trau’s new “Billie” bangle in 18-karat yellow gold with round-, pear-, and marquise-cut diamonds totaling 1.72 carats ($22,600) Billie Bangle](https://production-nationaljeweler-bucket.s3.us-east-2.amazonaws.com/uploads/9283ce5927cbdb1e24a1284caf4027b1.jpg)
Take a walk along this bangle’s diamond “cobblestone” made from round-, pear-, and marquise-cut diamonds.
![Graphic with headshots for My Next Question 2024 Las Vegas webinar](https://production-nationaljeweler-bucket.s3.us-east-2.amazonaws.com/uploads/7726017f0495dee18fbf95a8bb83de62.jpg)
The National Jeweler editors discuss the hot topics, best jewels, and current trends that stood out during Jewelry Market Week.
![NJSB1.JPG](https://production-nationaljeweler-bucket.s3.us-east-2.amazonaws.com/uploads/96e2be95a108e41c5ae0a30df4720134.jpg)
Sponsored by Core Scientific
![A lab-grown diamond engagement ring by the Vera Wang Love brand at Signet Jewelers-owned banner Zales. Signet posted declining revenue and same-store sales in its first quarter. Vera Wang Love True lab-grown diamond engagement ring](https://production-nationaljeweler-bucket.s3.us-east-2.amazonaws.com/uploads/b19b470b396ee18fc0ff5a20628224fb.jpg)
The company is expecting to see a 5 to 10 percent increase in engagements this year.
![Qurate Retail, the parent company of shopping networks HSN and QVC, may be delisted from the NASDQ if it can’t boost its share price. QVC HSN logo](https://production-nationaljeweler-bucket.s3.us-east-2.amazonaws.com/uploads/5223a29ac22a127d36dde36088186320.jpg)
Qurate Retail is in the middle of a turnaround plan as it battles declining sales.
![In her latest Style File, Amanda Gizzi features 13 pieces any dad would love to receive on Father’s Day.
Marie Lichtenberg Scapular necklace](https://production-nationaljeweler-bucket.s3.us-east-2.amazonaws.com/uploads/a650a81608a6264bdcc843b7bd7dedfe.jpg)
Showcase your dad’s personal style with a piece of fine jewelry for Father’s Day.
![A 1.18-carat marquise “Forever One” moissanite three-stone ring in 14-karat yellow gold by Charles & Colvard. The company has teamed up with the International Gemological Institute to provide grading reports for its moissanite. Charles & Colvard moissanite ring](https://production-nationaljeweler-bucket.s3.us-east-2.amazonaws.com/uploads/762f0c7c7cb4e5c6ce686d049bfd7744.jpg)
The partnership follows the launch of the jewelry company’s B2B moissanite platform.
![Bruce Cleaver, who led De Beers from 2016 until 2023, has joined Gemfields’ board as chair, effective July 1. Bruce Cleaver](https://production-nationaljeweler-bucket.s3.us-east-2.amazonaws.com/uploads/32eb279b9de0116009abeedee8977a23.jpg)
The former De Beers CEO will step into the role next month.
![Rose-cut cabochon Montana sapphires from Columbia Gem House. In her State of the Majors story, Associate Editor Lauren McLemore highlights non-traditional gemstone cuts and other trends shaping the colored gemstone market. Rose cut arch cabochons Columbia Gem House](https://production-nationaljeweler-bucket.s3.us-east-2.amazonaws.com/uploads/468236400e0b6a67638f60d551a46acc.jpg)
As prices of “The Big Three” skyrocket, supply dwindles, and focus on sustainability grows, an age of open-mindedness is dawning.
![Family-owned retailer Edward Arthur Jewelers in Columbia, Maryland, is closing after 53 years, and is hosting a retirement sale. (Image courtesy of Edward Arthur Jewelers’ website) Edward Arthur Jewelers logo](https://production-nationaljeweler-bucket.s3.us-east-2.amazonaws.com/uploads/330a9d4c526b796c726974b954a4d93e.jpg)
Owner Randy Brooks, whose brother opened the Maryland jewelry store in 1971, is retiring.
![New York City-based jewelry store Greenwich St. Jewelers is selling raffle tickets with all sales going to support nonprofit Trans Lifeline. Greenwich St jewelers pride raffle](https://production-nationaljeweler-bucket.s3.us-east-2.amazonaws.com/uploads/2e4de5c09c89ac4cae73547681350dbc.jpg)
Tickets to win a ring are for sale until June 13, with proceeds going to a trans care nonprofit.