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Wednesday, June 5, 2013

Natural Pearl Necklace Fetches $1.6 Million at Christie’s London

Three-row natural pearl necklace sold for more than $1.6 million.

The top lot of Christie’s London Important Jewels auction held Wednesday was a three-row natural pearl necklace that sold for more than $1.6 million (including buyers’ premium), double its pre-auction high estimate of $810,370.

The pearls on this 35.6cm-long necklace (circa 1925) measure approximately 10.7-4.1mm are attached to an oval mixed-cut ruby clasp with baguette and circular-cut diamond geometric surround.

Natural pearls of all types were popular throughout the auction, including seven of the 10 best selling lots.

Diamond and natural pearl brooch fetched $663,829.

A diamond and natural pearl brooch had the second highest price of the auction, fetching $663,829, smashing its pre-auction high estimate of $53,515. The 2.8cm-long drop shaped natural pearl is attached to a fluted cusp and single-stone diamond surmount.

“These results illustrate the continued strength in the market for natural pearls,” said Keith Penton, head of London Jewellery Department.

The sale realized a total of more than $13.4 million and was 77% sold by lot and 90% by value.

Other highlights of the sale include:

* An antique sapphire and diamond necklace (pictured above) that sold for $461,869, nearly double its high estimate of $244,640;

* An 18.79-carat, circular-cut, VVS2 diamond single-stone pendant sold for $424,871 or $22,626 per carat;

* A single-row natural pearl necklace measuring from 10.5 to 6.3mm that sold for $406,789;

* A 7-carat, rectangular-cut, fancy yellow, VVS1 diamond ring that sold for $305,809 or $28,271 per carat;

* A single-row natural pearl necklace measuring approximately 10.0-4.7mm that sold for $296,629;

* Natural pearl earrings that sold for $269,089;

* Art Deco natural pearl and diamond ear clips by Cartier that sold for $241,549; and

* A natural pearl necklace measuring from 12.1 to 7.8mm that sold for $241,549.

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