Australian Heiress Breaks Auction Record with $420,000 Diamond Ring
September 06, 20
(IDEX Online) - A 17.34-carat emerald-cut diamond ring broke the Australian record for a jewelry item sold at auction when it fetched A$575,000 (US$418,000).
The gem, set in platinum with a pave-set of brilliant-cut diamonds, was reportedly bought by billionaire heiress and socialite Francesca Packer-Barham, 25, niece of the late media tycoon Kerry Packer.
Australia's previous record for an auctioned item of jewelry was A$450,000 (US$328,000). Sydney-based Leonard Joel Auctions said it was "thrilled" with the sale at its inaugural Important Jewels Auction, which took place last week in the room, live on the internet, over the telephone and via absentee bid.
The auction house did not say who bought the ring, but Francesca Packer-Barham's identity was revealed in Australian media, which also reported she'd recently bought a five-bedroom penthouse costing A$16m (US$11.7m) in the up-market Sydney suburb of Darlinghurst.
Pic courtesy Leonard Joel Auctions