WHAT: Magnificent jewels brought magnificent prices in the past year. Multiple world records fell as international buyers put their money into serious gems.
MORE: Sotheby’s final jewelry auction of 2015 fetched $52.3 million, including the sale of a record-breaking Kashmir sapphire for $5.1 million, or $197,990 per carat. Earlier, a rare gray pearl necklace with 42 natural saltwater gray pearls matched by Cartier brought $5.27 million in Hong Kong. In all, the auction house hit $571 million worldwide in jewel sales last year.
Christie’s has not yet released a year total, but a final New York jewels sale brought $59.6 million, including a D color rectan-
gular diamond of more than 31 carats that sold for $4.3 million, or $137,500 per carat.
SMART COLLECTORS KNOW: At this level, jewelry and gems are absolutely top grade and rare. Exceptional and celebrity provenance helps, especially if there are photos of the famous owner wearing the piece.
People are also reading…
HOT TIP: Increasingly, cash-strapped royal houses are letting go of family pieces. Now is a good time to pick up tiaras and baubles, even fine gent’s jewelry, from lesser (and usually unidentified) nobles or cafe society figures of bygone eras.
BOTTOM LINE: The boom in fine jewels is a trend that looks to continue. World economies call the shots on likely buyers: Today it’s East Asians. Before, Middle Easterners and Russian oligarchs bought big. Decades ago it was wealthy Germans, and so it goes.
BOOK IT: We’ve always promoted the use of online databases such as liveauctioneers.com and worthpoint.com to research prices. But sometimes you want a print version.
“Miller’s Antiques Handbook & Price Guide 2016-2017” by Judith Miller Mitchell Beazley, ($45) has almost 700 pages with some 8,000 new results showing worldwide auction results for porcelain, clocks and watches, posters, antiquities, decorative arts and more.
More than a reference, it’s also fun reading.