Saturday, December 4, 2010

Auction of the Royal diamond bracelet broke record at Sotheby's sale

The biggest highlight of Sotheby's sale was the onyx panther diamond bracelets owned by Wallis Simpson, which was sold for 4.5 million pounds $9.23 million)Tuesday, an auction record both for a bracelet and a Cartier item.

This was the highlight of Sotheby's sale of 20 pieces owned by the late Duke and Duchess of Windsor which raised a total of 8.0 million pounds, twice the expected amount.
The next biggest lot of the night was a ruby, sapphire, emerald and diamond flamingo clip, also by Cartier, which fetched 1.7 million pounds, above the high estimate.

According to reports David Bennett, chairman of Sotheby's jewelry in Europe and the Middle East, said the sale's success was also due to the broader gem market.
He was reported saying that from the fortnight they have established both a new world record price for any gemstone with the sale of the 24.78 carat 'Graff Pink' for $46 million and a new world record total for a jewelry sale at $105 million.

The King Edward VIII, renounced his claim to the British throne in 1936 to marry the American divorcee, showered her with gifts of diamond jewelry throughout their courtship and marriage.
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