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Q&A: Al Cook on the Lab-Grown ‘Bubble,’ Dwindling Diamond Supply The De Beers Group CEO also discussed tariffs, Desert Diamonds, and the pending sale of De Beers in an interview with Michelle Graff.
AuctionsApr 29, 2016
Diamond lots top Bonhams NY sale
Bonhams recent jewelry sale held in New York totaled $6.3 million, with diamond pieces dominating the top 10 lots.
The auction, which took place Thursday, was sold 85 percent by lot and 86 percent by value.
The top lot of the sale overall was a 5.85-carat sapphire and diamond ring that sold for $461,000, exceeding its pre-sale high estimate of $200,000.
An 8.06-carat pear-shaped natural fancy light pink diamond sold for $389,000, and an 8.45-carat diamond, 18-karat gold and platinum ring garnered $293,000, more than twice its pre-sale high estimate of $120,000.
The auction also included the jewelry from the estate of Margaret Nielsen Stiegele.
Stiegele, who passed away in March at the age of 90, was the daughter of Arthur Nielsen, who founded the television ratings systems company Nielsen. Nielsen still exists today and owned National Jeweler until it sold its expositions and publications portfolio earlier this year.
The highest-grossing piece of Stiegele jewelry was an emerald and diamond Cartier bracelet, created between 1935 and 1940. It sold for $81,250.
Bonhams said most interest in the auction originated from bidders in the United States, Great Britain, Hong Kong, Switzerland, Italy and Australia.
Susan Abeles, head of U.S. jewelry at Bonhams, said the sale “saw a remarkably strong market response to sapphires of various origins.”
“Signed and vintage pieces, particularly those from private estates, were also in high demand. Designs by Tiffany & Co., Jean Schlumberger, Cartier and Van Cleef & Arpels were especially popular,” said Virginia Salem, director of Bonhams jewelry department in New York.
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