Sotheby’s London Jewellery Auction Achieves $7.5 Million

Sotheby’s scored more than $7.5 million at its latest London Jewellery sale, the second-highest total it has ever achieved in the city.

The top lot in last month’s Jewellery auction was one of several examples of the prices garnered for both signed jewels and high-quality colored gems, the company said. A Cartier Monture 18-karat yellow gold ring centered with a 6.45-carat unheated Kashmir sapphire and 7 to 8 carats of pear- and marquise-shaped diamonds sold for $534,206, smashing its $111,345 high estimate.

Signed vintage Jewellery, colored gems, and fancy-shaped diamonds led the sale of 236 lots, of which 89% sold, 74% above their high estimates.

“While prices soared in the salesroom for pieces from established Jewellery houses…there was simultaneously a strong demand for exceptional-quality stones,” said Nikita Binani, head of Jewellery at Sotheby’s London. “Color took to the eyes of all our collectors worldwide with strong prices achieved in this sale for sapphires, emeralds, and pink diamonds.”