May 19, 2011
The tiara was originally expected to sell for between $5-10 million, but far exceeded expectations. Six bidders competed for the rare emerald and diamond tiara, said to be made circa 1900, which was formerly in the Collection of Princess Katharina Henckel von Donnersmarck. It’s sale and the price it fetched represents an auction record for a piece of emerald jewellery.
At the same auction international jewellers Leviev outbid four underbidders to purchase a fancy intense pink diamond, weighing 10.99 carats, for $10,840,358, the third-highest price for a pink diamond at auction.
The total for the entire sale of Magnificent and Noble Jewels was $89,121,687, well in excess of the pre-sale high estimate of $77.9 million.
Commenting on the evening’s sale, David Bennett, chairman of Sotheby’s jewellery department for Europe and the Middle East, said: “Sotheby’s was honoured to offer perhaps the grandest piece of jewellery to come to sale in over 30 years and the market responded with enthusiasm. This evening’s results across the board – in Noble Jewels, diamonds, coloured gemstones, and pieces signed by the world’s greatest jewellers – show the extraordinary appetite among connoisseurs for rarity, quality and provenance.”