Sotheby's NY April Sale Highlights Colored Gems

Apr 14, 2014 12:16 PM By Jeff Miller RAPAPORT... Sotheby’s New York annual spring auction of magnificent jewels will offer more than 450 lots with a combined presale total of $37 million on April 29.

One of the highlights from the auction is a 15.23-carat, VS2, cushion-cut fancy intense orangy-pink diamond ring (pictured) with a presale estimate of $6 million to $7 million. Sotheby's will also offer The El Dorado Emerald, a 36.53-carat, emerald-cut Colombian emerald ring with a presale estimate of $1.8 million to $2.2 million. diamond jewelry

Another highlight from the sale includes a 28.18-carat, emerald-cut Kashmir sapphire set in a tapered baguette diamond and platinum ring by Oscar Heyman & Brothers (pictured below), with a presale estimate of $4 million to $5 million.

The American Gemological Laboratories (AGL) described the sapphire as “a gem of singular importance. It possesses the quintessential, velvety blue color that distinguishes a fine Kashmir sapphire. The pleasing color of this sapphire is further enhanced by a square emerald-cut fashioning, resulting in deep, internal color reflections and brilliance that complement the overall visual appearance of the stone, as well as a high clarity that results in a heightened degree of transparency.”

Gary Schuler, the senior vice president and director of the Sotheby's New York jewelry department, said, “The current world record price per carat for a Kashmir sapphire at auction is $175,821, achieved for the Richelieu Sapphires (26.66 and 20.88 carats) at Sotheby’s in Geneva in November 2013. The exceptional quality of this sapphire has the potential to reach historic heights as well, with proceeds benefiting a charitable foundation.”

blue saffphireThe April auction will offer a selection of jewelry from the estate of the late entertainer Eydie Gorme. Pieces include several classic diamonds that were given by her husband of 55 years, Steve Lawrence.

Lisa Hubbard, the chairman of the Americas at Sotheby’s jewelry division, said, “Not only were Eydie Gorme and Steve Lawrence gifted performers, they were a wonderful love story. Her very personal jewelry collection is a testament to one of the great, enduring romances in show business history. Eydie dreamed of one day owning a diamond in every classic shape, and Steve Lawrence made her dreams come true.”