Huge Paraiba tourmaline sets $4.2m Record
December 11, 25
(IDEX Online) - A 13.54-carat Pariba tourmaline necklace set a world record at Christie's New York, selling for $4.2m.
It was a highlight of the Magnificent Jewels auction yesterday (10 December) that raised a total of $46.5m.
The Tiffany & Co. tourmaline and diamond necklace from the collection of prominent collectors Max and Cecile Draime, sold for more than seven times its high estimate (low estimate $400,000, high $600,000).
It broke a 2015 record set by a 5.50-carat Paraiba tourmaline and diamond ring, that sold for $3.3 million at Christie's Geneva.
At the New York sale a matching pair of earrings - oval modified brilliant-cut Paraiba tourmalines of 3.45 and 3.19 carats - sold for $1.3m (low estimate $250,000, high $350,000).
Tourmaline has been known for centuries, but Paraiba-type copper-bearing tourmalines were only discovered in 1989.
They are called Paraiba after state in Brazil where they were first found and can, in exceptional cases, command significantly higher prices than diamonds, carat for carat.
"Tourmaline proved to be the surprise star of the sale, achieving the highest prices for the day including a world record price for a Paraiba tourmaline," said Christie's in a statement.
The Rockefeller Kashmir, an Art Deco ring featuring a 17.66-carat cabochon sapphire, sold for $2.6m, above its $1.5m to $2.5m estimate.
It belonged to the late John D. Rockefeller 3rd and his wife Blanchette, and was presented as part of the couple's vast art collection.
A pair of antique sapphire and diamond earrings achieved $3m against a low estimate of $1.5m, and sapphire and diamond ring realized $1.8m far exceeding its low estimate of $500,000.
Pic, courtesy Christie's, shows the tourmaline necklace and earrings