Third Consecutive Year of Record Jewellery Sales at Sotheby’s
THIS JADE NECKLACE SOLD FOR A RECORD RM 100 MILLION!
US$603 MILLION MARKS HIGHEST ANNUAL TOTAL IN COMPANY HISTORY – 3,900+ Lots Sold – 2,400 Clients Bid from 74 Countries – 1,000+ Lots Competed for Online
77 Jewels Exceed US$1 Million – 69% of All Sold Lots Exceed Their High Estimates – 13 Auctions Held in 4 Selling Locations Worldwide, With Overall Sell-Through Rate of 81% – 2 Highest Prices at Any Auction House Worldwide in 2014
Sotheby’s worldwide jewellery auctions reached new heights in 2014 for a 3rd consecutive year, totalling US$602.5 million*.
From top coloured diamonds and gemstones to natural pearls and rare signed jewels by iconic makers, we explore the pieces that are driving today’s booming auction market:
RM 11 MILLIONFrom the Collection of Mrs. Paul Mellon An Exquisite Gold and Diamond Rivière, Cartier, circa 1948
Collectors eagerly vied throughout 2014 for jewels emerging from prominent private collections, including pieces owned by Mrs Paul Mellon, Dimitri Mavrommatis, Barbara Hutton, Estée Lauder and Evelyn H. Lauder, Joséphine De Beauharnais, Helen Hay Whitney, Flora Sassoon, Grand Duchess Vladimir of Russia and more.
Unearthing jewels after years spent tucked away in such collections is a unique strength of the auction market for jewellery, and throughout last year the allure of these great names drove exceptional results at Sotheby’s.
JEWELS & OBJECTS OF VERTU FROM THE COLLECTION OF MRS. PAUL MELLON Auction Total: US$45 Million / CHF 43.2 Million / HK$351.4 Million High Estimate: US$20.7 Million
DIMITRI MAVROMMATIS: THE PASSION OF COLLECTING Auction Total: US$27.9 Million / CHF 26.8 Million / HK$217 Million 100% Sold
RECORD RESULTS FOR THE MOST COVETED DIAMONDS
With the success in 2014 of The Zoe Diamond from the collection of Mrs. Paul Mellon and The Graff Vivid Yellow, Sotheby’s now holds world auction records for the four most sought-after diamond colours throughout history: white, pink, blue and yellow.
RM 118 MILLIONRecord for Any Blue Diamond
Highest Auction Price for Any Jewel in 2014
RM 12 MILLION per carat Record Price per Carat for Any Diamond
RM 60 MILLIONTHE GRAFF VIVID YELLOW
Record for Any Yellow Diamond Record for Any Jewel by Graff
NATURAL JADEITE: A BURGEONING MARKET
An essentially Asian gemstone, jadeite was introduced into Western Art Deco jewellery design in the 1930s.
The thriving auction market for natural jadeite, primarily in Asia, has gone from strength to strength in recent years, driven by the scarcity of quality boulders and the growing demand of buyers from Greater China and Southeast Asia.
Extraordinary prices were paid for top-quality jadeite in 2014, led by the Hutton-Mdivani Necklace, fashioned by Cartier with jadeite beads from the Qing court, which was purchased by the Cartier Collection for a record price that is surpassed at auction only by diamonds.
RM 100 MILLIONTHE HUTTON-MDIVANI NECKLACE
Record for Any Jadeite Jewel Record for Any Non-Diamond Jewel Record for Any Jewel by Cartier 2nd-Highest Auction Price for Any Jewel in 2014
RM 20 MILLIONHIGHLY IMPORTANT JADEITE BANGLE
UNPRECEDENTED DEMAND FOR QUALITY GEMSTONES
Sotheby’s sales witnessed insatiable demand for top-quality sapphires, rubies and emeralds last year, driven by the burgeoning wealth of a new generation of buyers from China, Russia and the Middle East, combined with an international network of high net-worth clientele in pursuit of exceptionally rare gemstones as a wearable form of alternate investment.
RM 31 MILLIONTHE GRAFF RUBY
Record Price for Any Ruby
RM 3.6 MILLION per carat
Record Price per Carat for Any Ruby
RM 29 MILLIONA RARE AND EXCEPTIONAL SAPPHIRE
Record for Any Kashmir Sapphire
WEARABLE WORKS OF ART BY ICONIC NAMES
Jewels by celebrated makers have always held additional appeal for jewellery connoisseurs. Each name signals a certain level of craftsmanship and an identifiable style, just as a Picasso might elicit confidence and passion from a painting’s collector.
The global audience for jewellery is expanding rapidly, with buyers in developing markets becoming increasingly sophisticated in their aesthetic sensibilities, leading to unprecedented prices for wearable works of art at auction.
RM 8 MILLIONAN ICONIC ‘TUTTI FRUTTI’ BRACELET, CARTIER, NEW YORK From the Collection of Evelyn H. Lauder Sold to Benefit The Breast Cancer Research Foundation
Record for a ‘Tutti Frutti’ Bracelet by Cartier
NATURAL PEARLS: A GROWING RARITY
Natural pearls are increasingly rare, as their original source is nearly depleted. Pollution has affected the pearl fishing industry, and the majority of saltwater pearls were harvested a century ago. Classic and timeless, worn during the day or at night, natural pearls are always in fashion and an essential highlight to every jewellery collection.
RM 11MILLIONIMPORTANT NATURAL PEARL AND DIAMOND NECKLACE
More than 8 times its high estimate