The Graff Ruby, ‘a gem among gems’, sells for $8.6 million a world auction record for a ruby

Étiquettes

'Model A' Mystery Clock, Cartier, circa 1876, cushion-shaped ruby, JAR, Joséphine de Beauharnais, Natural Pearl and Diamond Necklace, Ruby and Diamond Earrings, sapphire, Sapphire and diamond ring, The 'English Rose' diamond pendant, The Graff Ruby

The ‘Graff Ruby’. Exceptionally important and exquisite ruby and diamond ring, Graff. The cushion-shaped ruby weighing 8.62 carats, set between triangular diamond shoulders within a mount decorated throughout with brilliant-cut diamonds, size 59, signed Graff, together with an alternative ring mount, Graff. Estimate  6,500,000 — 8,560,000 CHF. Lot sold 8,285,000 CHF. World auction record price for a ruby. World auction record price per carat for a ruby. Photo Sotheby’s

GENEVA.- Today, Sotheby’s Geneva sale of Magnificent & Noble Jewels was led by the “Graff Ruby” from the Collection of Dimitri Mavrommatis. The 8.62 carat cushion-shaped gemstone soared above estimate and set a world auction record for a ruby at CHF 8,285,000 ($8,600,410), as well as a record price per carat for a ruby at $997,727* when it sold to Laurence Graff (lot 470, est. CHF 6.5 – 8.56 million / $6.8 – 9 million)*. This spectacular gemstone displayed the coveted “pigeon blood” red colour associated with the finest rubies from Mogok in Burma, arguably the rarest of all gemstones.

World auction record price for a ruby. The ‘Graff Ruby’, Exceptionally Important Burmese Ruby weighing 8.62 carats (lot 470) Sold for CHF 8,285,000 ($8,600,410) Previous record set by a 29.62 carat oval Burmese ruby Sold for $7,338,462 ($247,754 per carat) at Sotheby’s Hong Kong in April 2014

World auction record price per carat for a ruby. The ‘Graff Ruby’, exceptionally important Burmese Ruby weighing 8.62 carats (lot 470) Sold for CHF 8,285,000 ($8,600,410) ($997,727 per carat) Previous record set by a 6.04 carat cushion-cut Burmese ruby Sold for $3,331,380 ($551,553 per carat) at Christie’s Hong Kong in May 2012

Another highlight of the evening was a natural pearl and diamond necklace formerly in the collection of Joséphine de Beauharnais, Queen of Sweden and Norway (1807-1876) and likely once the property of Joséphine de Beauharnais (1763-1814), first wife of Napoleon Bonaparte and Empress of the French. Comprising 111 pearls, the necklace achieved CHF 3,301,000 ($3,426,669) (lot 431, est. CHF 765,000-1,340,000 / $800,000-1,400,000). This result also demonstrates once again the extraordinary appeal of natural pearls which often sold for many multiples of their estimates today.

Magnificent natural pearl and diamond necklace. Composed of two strands of natural pearls measuring from approximately 6.25 to 8.45mm, suspending seven detachable drop shaped natural pearls, measuring from approximately 9.50 x 9.55 x 13.85mm to 14.10 x 14.85 x 21.25mm, capped with rose diamonds, the clasp set with a cushion-shaped diamond, shortest length approximately 400mm, each pearl strand detachable, fitted case, accompanied by a portrait of Queen Joséphine wearing the necklace, measuring approximately 870 x 720mm. Estimate  765,000 — 1,340,000 CHF. Lot sold 3,301,000 CHF. Photo Sotheby’s

Today also saw exceptional prices for fine diamonds, coloured gemstones and jewels signed by the world’s greatest makers, which brought the sale’s total to an outstanding CHF 91,778,750 ($95,272,767), with 90.2% lots sold (est. CHF 59.2 – 90.2 million / $61.4 – 93.6 million).

Today also saw exceptional prices for fine diamonds, coloured gemstones and jewels signed by the world’s greatest makers, which brought the sale’s total to an outstanding CHF 91,778,750 ($95,272,767), with 90.2% lots sold (est. CHF 59.2 – 90.2 million / $61.4 – 93.6 million).

Commenting on today’s results, David Bennett, Chairman of Sotheby’s Switzerland and of the Jewellery Department for Europe and the Middle East said: “The Graff Ruby mesmerizes all who view it. It is truly a gem among gems, and quite simply the greatest ruby of its size I have ever seen. The record price achieved tonight is also a tribute to the discerning eye of Dimitri Mavrommatis and his intense passion for beauty in all its forms”.

Shortly after the sale, Laurence Graff made the following statement: “It was a natural thing to do. Graff deals in the finest gemstones in the world and this is the finest ruby in the world. We are very proud to have it in our possession for the second time.”

Rare Gemstones & Spectacular Jewels from the Dimitri Mavrommatis Collection

At the heart of today’s sale was an ensemble of rare gemstones & beautiful jewels from the Dimitri Mavrommatis Collection. All 16 lots found buyers and realised a combined total of CHF 26,840,000 ($27,861,799) (est. CHF 17.8-27.3 million / $18.5-28.3 million). In addition to the Graff Ruby, the offering included a rare 27.54 carat step-cut Kashmir sapphire which exhibited a rich, saturated velvety blue colour and achieved CHF 5,765,000 ($5,984,474), a world auction record for a Kashmir sapphire (lot 468, est. CHF 2,86-5,71 million/ $3-6 million).

Rare and exceptional sapphire and diamond ring. The step-cut sapphire weighing 27.54 carats, set between pear-shaped diamond shoulders, size 53, together with an alternative ring mount, Graff. Estimate 2,860,000 — 5,710,000 CHF. Lot sold 5,765,000. World auction record price for a Kashmir sapphire. Photo Sotheby’s

World auction record price for a Kashmir sapphire. A rare and exceptional Kashmir sapphire weighing 27.54 carats (lot 468) Sold for CHF 5,765,000 ($5,984,474) Previous record set by a Kashmir sapphire weighing 28.18 carats Sold for $5,093,000 ($180,731 per carat) at Sotheby’s New York in April 2014

Testament to the collector’s educated eye were also several beautiful creations by two of the most respected contemporary jewelers, Graff and JAR. JAR, the leading art jeweler of the last 50 years and an unrivalled master of colour was represented by a pair of superb sapphire, ruby and diamond earrings which sold for CHF 557,000 ($578,205) (lot 463, est. CHF 385,000-670,000 / $400,000- 700,000).

Pair of superb sapphire, ruby and diamond earrings, JAR. Each of circular form, pavé-set with circular-cut sapphires of various hues ranging from light pink to purplish blue, surmounted with a stylised cage set with a cushion-shaped stone, one a diamond weighing 3.06 carats, the other a ruby weighing 4.89 carats, and lines of single-cut diamonds, signed JAR, French import marks, post and hinged back fittings, case by JAR. Estimate  385,000 — 670,000 CHF. Lot sold 557,000 CHF. Photo Sotheby’s

Jewels with Royal Provenance

The auction also confirmed the strong demand for jewels of noble provenance and great historical importance among international collectors. In addition to Joséphine de Beauharnais’s necklace, the sale featured The “English Rose” diamond pendant, circa 1876, once the property of Queen Victoria of Great Britain, which made CHF 68,750 ($71,367) (lot 368, est. CHF 50,000-70,000 / $52,000- 73,000).

The ‘English Rose’ diamond pendant, circa 1876. Formed in the shape of a rose, the centre set with a pear-shaped diamond within a surround of cushion-shaped, single-cut and rose diamonds. Estimate  50,000 — 70,000 CHF. Lot sold 68,750 CHF. Photo Sotheby’s

An important Cartier Art Deco Collection

Vintage jewels drew attention thanks to a stunning collection of Art Deco jewels, objects and clocks by Cartier which surpassed pre-sale expectations. All 23 lots sold for a combined total CHF 3,037,000 ($3,152,619) (est. CHF 1.2-2.2 million / $1.3-2.3 million). Made in 1927, a rock crystal, mother-of- pearl, onyx and diamond “Model A” Mystery Clock found a buyer for CHF 605,000 ($628,032) (lot 453, est. CHF 240,000-430,000 / $250,000-450,000).

Rock crystal, mother-of-pearl, onyx and diamond ‘Model A’ Mystery Clock, Cartier, 1927. The millegrain-set diamond hands set within a gold frame and a chapter ring applied with mother-of-pearl, rose diamonds and raised gold Roman numerals, the bevelled rock crystal case on a onyx rectangular base, measuring approximately 141 x 90 x 52mm, unsigned, numbered, French assay mark, fitted case and charge key. Estimate  240,000 — 430,000 CHF. Lot sold 605,000 CHF. World auction record for a Mystery Clock “Model A” by Cartier. Photo Sotheby’s

World auction record for a Mystery Clock “Model A” by Cartier. A rock crystal, mother-of-pearl, onyx and diamond “Model A” Mystery Clock by Cartier (lot 453) Sold for CHF 605,000 ($628,032) Previous record set by an art Deco “Model A” Mystery Clock by Cartier Sold for CHF 545,000 ($567,114) at Christie’s Geneva, 11 November 2014