Duchess Roxburghe's ruby and diamond earrings, sold for more than 10 times their estimated price at Sotheby's, Geneva
Geneva, Switzerland (GenevaLunch) – The annual Sotheby‘s sale of “Magnificent Jewels” was an extraordinary event Tuesday evening 17 November in Geneva, reassuring investors that the jewelry market is alive and well, with sales close to the impressive CHF40 million of May 2009: CHF37 million, with sales spread across several lots. In May, one blue diamond alone sold for CHF10.4 million, accounting for over one-quarter of the auction value.
Several items were bought for sums dizzyingly higher than their estimates Tuesday night. Diamond rings in particular went for double their estimates, for the most part.
The November 2008 sale, at a point of great gloom over the global financial crisis, brought in CHF18 million and some of the top items were not sold because of bids that were too low for the sellers.
The top items Tuesday night included (from catalogue descriptions):
