Sotheby’s Australia Dazzles with Record Result of $2.93 Million for a Jewels Auction in Australia

Sotheby’s Australia’s auction of Important Jewels & Watches achieved $2.93 million, the highest ever total for a jewels and watches auction in Australia.  The record-setting sale was the first auction to be held in Sotheby’s Australia’s newly restored heritage building in Collins Street, Melbourne, and featured a superb selection of diamonds, coloured diamonds and precious gemstones, including magnificent pieces of signed jewels by the most celebrated international jewellers and watchmakers.  Demand for creations by Audemars Piguet, Bulgari, Cartier, David Webb, Emil Meister, Hublot, Patek Philippe, Rolex, and Tiffany & Co., saw many items sell above estimate, with 6 lots selling for over $100,000.

Geoffrey Smith, Chairman of Sotheby’s Australia commented: ‘An outstanding record result of $2.93 million for an Australian jewels and watches sale was achieved by Sotheby’s Australia last night in Melbourne.  The global appeal of diamonds was reasserted, with numerous pieces capturing the attention of international collectors, with a platinum and 15.09 carat diamond ring selling for $366,000 (estimate $300,000-400,000, lot 85, pictured previous).  Impressive gemstones generated fierce competition, with an 18ct bi-colour gold, 4.55 and 4.59 carat emerald and diamond earrings sold to a room bidder for $134,200 (estimate $110,000-150,000, lot 78, pictured top right).  Competitive bidding erupted for jewels and watches by the most established makers, including Bulgari, Cartier, David Webb, Patek Philippe, Rolex and Tiffany & Co.’

• 83% sold by value and six lots realised over $100,000 including:
• An Art Deco, platinum, sapphire and diamond bracelet, circa 1935, which achieved $366,000
• A platinum and 15.09 carat diamond ring, sold for $366,000
• Participants from over 15 countries contribute to Sotheby’s Australia’s highest ever sale result for jewels and watches
• Platinum and 15.09 carat diamond ring. Sold for $366,000 August 2018