Vanderbilt Sapphire Brooch Sells for $3.6m
November 11, 25
(IDEX Online) - The 42.68 carat Vanderbilt Sapphire, a treasure from the shipping and railroad Vanbderbilt dynasty, sold for $3.6m, more than twice its $1.5m high estimate, at Phillips Geneva.
The sugarloaf Kashmir, unheated, royal blue sapphire was set in a 20th century Tiffany brooch of openwork scroll design, with white diamonds.
It was highlight of the Geneva Jewels Auction: V held yesterday (10 November), which raised $17m, with 85 per cent of the 114 lots sold.
The old-cut Golconda 6.95-carat fancy vivid purplish pink diamond that was due to lead the sale was withdrawn by Phillips in agreement with the consignor.
Phillips said a 10.08-carat diamond set an auction record for a light pink-brown diamond, selling for $881,000 (against a high estimate of $650,000).
Over 1,600 visitors attended the preview and sale, and there were bids from 44 countries on the day.
Benoit Repellin, Phillips' worldwide head of jewelry, said: "The results of today's sale attest to the enduring appeal of period jewels and the discerning eye of our international clients. To bring the jewels of the Vanderbilt family to the world's stage was a moment of profound privilege.
Pic of Vanderbilt Sapphire courtesy Phillips.