Saffronart successfully conducted India’s First Public Auction of Fine Jewellery and Watches online. This pioneering auction demonstrates successful expansion from art to high value collectibles and reinforces the success of its interactive and transparent platform.

This auction drew unprecedented response, registering a total of 699 participants.

Top selling lots included a magnificent Natural Pearl Necklace with a Seven Strand Cascade, an exquisite Pear Shaped Diamond Necklace, an important suite of Diamond Jewellery, and a majestic Spinel and Diamond Sarpech.

With the close of its inaugural online auction of Fine Jewels & Watches held on 7th & 8th October 2008, Saffronart has successfully broken new ground in the jewellery auction market and pioneered a brand new platform to showcase and sell Indian designs, aesthetics and high value collectibles to Indian and International audiences.

Minal Vazirani, Co-founder and Director of Saffronart, says, “I am very happy with the results of the auction, more so since we have achieved our main objective of expanding Saffronart offerings beyond art. The results are highly encouraging given the current global economic situation”.

Sale Highlights :

The top five lots of this sale were: A Magnificent Natural Pearl Necklace with a seven strand Cascade, going for Rs. 1.07 crore (US$ 241,247); An exquisite pear shaped Diamond Necklace, going for Rs. 79.86 lakh (US$ 179,478); An important set of Diamond Jewellery, going for Rs. 74.20 lakh (US$ 166,750); A majestic Spinel and Diamond Sarpech, going for Rs. 49.83 lakh (US$ 111,999); and an impressive Emerald Drop, Ruby and Diamond Necklace, going for Rs. 37.52 lakh (US$ 84,318).

This breathtaking collection of important gems-set pieces, impressive fancy colored diamonds and more, drew its inspiration from the country’s varied jewellery traditions, rich aesthetic heritage and contemporary global identity.

Almost 700 registered participants from all over the world bid, for some of the most exquisite pieces of jewellery and limited edition watches. The other significant sales included select pieces for men, including a Patek Philippe Calatrava Travel Time Watch and cufflinks.

Minal Vazirani added, “Our transparent online platform allows access to published prices, certificates of stones, images, history and background of pieces and in some cases, designers. We also provide a well documented and researched catalog that serves as a ready reference for collectors across the world”.

Exquisite Diamond Necklace :

Designed as a line of 83 perfectly graduated, inverted pear-shaped diamonds, weighing approximately 43.30 carats, mounted in 18kt. white gold, 42.5 cm. With 39 reports dated 2008 from the International Gemological Institute stating that 39 of the diamonds range in weight from 2.00 to 0.25 carats, IF to VVS2 clarity, and D to F color

Winning Bid : US$179,478 (Rs. 79,86,750)

Impressive Set of Diamond Jewellery :

Comprising a necklace with a series of lotus shaped motifs each with two marquise-shaped diamond petals and a pear-shaped diamond bud, linked with round diamonds, centering on a square-shaped diamond, suspending a heart and pear-shaped diamond; and a pair of ear pendants set, each designed as a single lotus shaped motif of two marquise and one pear-shaped diamond, suspending a pear-shaped diamond and suspended from a heart-shaped diamond, with a square-shaped diamond surmount, mounted in 18kt. white gold.

It carries 48 certificates (2007 to 2008) from the International Gemological Institute stating that the 48 diamonds range in weight from approximately 2.40 - 0.48 Carats, IF to VS1 clarity, and E to I color.

Winning Bid : US$166,750 (Rs. 74,20,375)

A Majestic Diamond & Spinel ‘Sarpech’ :

A turban ornament with three foliate cluster panels centrally set with table-cut ‘polki’ diamonds, approximately 7.18 carats, within a surround of oval shaped spinels, weighing approximately 144 carats, and full-cut diamonds, suspending a fringe of seventeen pearls from below, to the tapered aigrette ‘kalgi’ suspending a pearl. The reverse finely decorated in floral design cut work with meandering branches and flowers of pavé-set diamonds, joined by a link-chain set with diamonds.

Winning Bid : US$111,999 (Rs. 49,83,933)

A Magnificent Diamond Emerald Bead, Ruby Necklace :

Designed as a flexible three-row necklace of perfectly matched and graduated rose-cut diamonds, weighing approximately 45.14 carats, and oval-shaped rubies, weighing approximately 50.15 carats, suspending a fringe of drop-shaped emerald beads, weighing approximately 120.28 carats, with diamond caps, with a two-row back chain of rose-cut diamonds and rubies, joined by a ruby clasp with a diamond surround, mounted in 18 K gold, 36.1 cms.

Winning Bid : US$84,318 (Rs. 37,52,151)

Indian Rooted Saffronart :

A global company with deep Indian roots, Saffronart was founded in 2000 on the strength of a private passion. Remaining committed to this passion and personal values, today Saffronart is a strong and successful international business. Established by Dinesh and Minal Vazirani, it is India’s largest art auction house.

With eight years of experience in auctioning Indian art online, Saffronart is a leading corporation committed to creating a cultural bridge to India for both the global Indian diaspora and the international community at large.

With online auctions, a host of technology enabled services for clients and an unparalleled global presence with offices in Mumbai, New York and London, Saffronart has made effectively reach to jewellery simple and instantaneous. Its robust online auction platform and secure technology offers a personal, intuitive and effortless bidding and buying experience for clients.