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Sotheby’s Nets $18M at New York Jewelry Sale

RAPAPORT… Sotheby’s garnered nearly $18 million from its Important Jewels sale in New York, with a pink-diamond ring taking the top spot.

The pear-shaped, 12.38-carat, fancy-pink, VVS2-clarity diamond ring fetched $4.6 million, or $373,337 per carat, falling within the price range the auctioneer had estimated. It led the auction house’s first live jewelry sale in the state since the coronavirus pandemic began in March.

“This auction was presented in a new and innovative format, a hybrid of online advance bidding, culminating in the drama of a live auction,” Kendall Reed, head of fine and online jewels at Sotheby’s New York, said last week.

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