Christie's: Archduke Joseph Diamond Expected to Soar Above $15M

WRITTEN BY AFP WIRE SERVICE  

WEDNESDAY, 03 OCTOBER 2012 08:57

The 'Archduke Joseph' Diamond, an unmounted cushion-shape Golconda diamond, weighing 76.02 carats (D color, internally flawless clarity). Estimate on request. Photo ©Tony Falcone. Courtesy Christie's Images Ltd. 2012.

GENEVA (AFP) - One of the world's most historic diamonds, the Archduke Joseph, is up for sale in Geneva with an expected price tag well in excess of $15 million (11.6 million euros), Christie's auction house said Wednesday.

"It's a 76.02 carat cushion-shaped D-color diamond (considered to be the most flawless), from the famous Golconda mines in India," Christie's senior international specialist Jean-Marc Lunel told AFP.

The colorless gem, which is about the size of a domino and 1.5 centimeters (more than half an inch) thick, is to be exhibited from Oct. 13 in New York, Hong Kong and Geneva before the auction in Switzerland on Nov. 13.

Described as the "star lot of the fall jewellery auction season" by Christie's, the diamond has the same provenance as other illustrious jewels including the Koh-i-noor -- part of the crown jewels held in the Tower of London -- and the Regent, believed by many to be the finest diamond in the French crown jewels and now in the Louvre museum in Paris.

All three jewels come from the now closed Golconda mines, which produced the purest gems, Lunel said.

Next month's auction will be the second time Christie's has sold the Archduke Joseph after it fetched $6.5 million at a Geneva sale in 1993. The jewel, which belonged to Archduke Joseph of Austria (1872-1962), was put in a vault of the Hungarian General Credit Bank in 1933 by his son, the Archduke Joseph Francis.

The diamond was sold three years later to an anonymous buyer who left it in a safe during World War II, escaping the attention of the Nazis.

It finally resurfaced in 1961 at auction in London and was offered for sale in November 1993 at Christie's Geneva.

Since then the diamond has changed hands privately, but Christie's declined to comment on the identity of the current owner.

The auction house holds eight major jewelry sales a year, including two in Geneva.

"The first half of 2012 saw record sales, thanks mainly to the May auction in Geneva," said Lunel, "when part of the jewelry collection of billionairess Lily Safra was sold for good causes."

MOST VALUABLE PRIVATE JEWELRY COLLECTION SOLD AT AUCTION

 7 WORLD AUCTION RECORDS BROKEN, INCLUDING 

A PEARL JEWEL, AN INDIAN JEWEL, AN EMERALD JEWEL,
PRICE PER CARAT FOR A COLORLESS DIAMOND AND FOR A RUBY

“Elizabeth Taylor's magnificent collection of jewels has captivated the auction world this fall, resulting in world-wide bidding and this first landmark result. Without a doubt the greatest private collection of jewelry ever assembled, this sale marked the powerful start of Christie’s historic week of sales auctioning the Jewelry, Fashion, Accessories and Memorabilia from The Collection of Elizabeth Taylor between the 13 – 16 December, in tandem with the online-only sale (3 – 17 December),” said Marc Porter, Chairman and President of Christie's Americas.

AFTER TODAY’S SALE OF THE COLLECTION OF ELIZABETH TAYLOR: JEWELRY (II) 

THE COMBINED TOTAL OF BOTH SALES ACHIEVED $137,235,675!

(Pictured above are the Burton Wedding bands which, after a 15 minute bidding battle, realized $1,022,500) 

Results from The Collection of Elizabeth Taylor: The Legendary Jewels, Evening Sale

Results from The Collection of Elizabeth Taylor: Jewelry (II) 

“The extraordinary results of the first jewelry sale are a tribute to Elizabeth Taylor's expert eye for fine gemstones and jewels, as well as her stature as a legendary star and inspiring philanthropist. During the international pre-sale exhibition tour, which travelled all the way to Hong Kong, via Moscow, London, Tokyo, Los Angeles, Dubai, Geneva and Paris, before arriving in New York, thousands of collectors and admirers braved long lines to get a glimpse of one of the greatest collections of all time,” noted François Curiel, International Jewelry Director and President of Christie’s Asia. “For many, there was both the desire to share in the stories behind Elizabeth Taylor’s iconic jewels and to dream of perhaps acquiring one. For others, the sale provided the opportunity to purchase unique jewels, which brought Elizabeth Taylor such joy and reflect her remarkable taste and connoisseurship. I know she would be thrilled that her passion has inspired others through this landmark event. Being the auctioneer for this sale was one of the most memorable auctioneering events of my life.”

About Christies:
Christie’s, the world's leading art business had global auction and private sales in 2010 that totaled £3.3 billion/$5.0 billion. Christie’s is a name and place that speaks of extraordinary art, unparalleled service and expertise, as well as international glamour. Founded in 1766 by James Christie, Christie's conducted the greatest auctions of the 18th, 19th and 20th centuries, and today remains a popular showcase for the unique and the beautiful. Christie’s offers over 450 sales annually in over 80 categories, including all areas of fine and decorative arts, jewellery, photographs, collectibles, wine, and more. Prices range from $200 to over $100 million. Christie’s has 53 offices in 32 countries and 10 salerooms around the world including in London, New York, Paris, Geneva, Milan, Amsterdam, Dubai, Zürich, and Hong Kong. More recently, Christie’s has led the market with expanded initiatives in emerging and new markets such as Russia, China, India and the United Arab Emirates, with successful sales and exhibitions in Beijing, Mumbai and Dubai. 

Christie's First of the Elizabeth Taylor Auctions - $115,932,000

The first of the Elizabeth Taylor auctions took place last night at Christie's...there was a total of 80 items with 100% sell through.  Some of these prices will surprise you!

THE ELIZABETH TAYLOR DIAMOND
Estimate:  $2,500,000 - $3,500,000
Set with a cut-cornered rectangular-cut diamond, weighing approximately 33.19 carats, flanked on either side by a tapered baguette-cut diamond, mounted in platinum.
With report 1132411262 dated 9 May 2011 from the Gemological Institute of America stating that the diamond is D color, VS1 clarity; accompanied by a working diagram indicating that the clarity may be potentially internally flawless


Price Realized - $8,818,500

LA PEREGRINA
Estimate:  $2,000,000 - $3,000,000
A NATURAL PEARL, DIAMOND, RUBY AND CULTURED PEARL NECKLACE, BY CARTIER
Suspending a detachable drop-shaped natural pearl pendant, weighing approximately 202.24 grains or 50.56 carats, measuring approximately 17.35 - 17.90 x 25.50 mm, with an old mine-cut and rose-cut diamond and silver foliate bail, suspended from a circular-cut diamond flame motif set with a pear-shaped ruby, spaced by a detachable pear-shaped ruby and natural pearl link, to the two-strand necklace, comprising fifty-six natural pearls and four cultured pearls, intersected by eight circular-cut diamond and cushion-cut ruby flame motif plaques, mounted in platinum and gold, La Peregrina late 16th century; diamond bail early 19th century; natural pearl, diamond, ruby and cultured pearl necklace by Cartier 1972, 13½ ins., pendant may also be worn as a brooch, accompanied by the seed pearl and platinum neckchain from the time of the purchase at auction in 1969, 30¾ ins.
Signed Cartier
Designed by Elizabeth Taylor with Al Durante of Cartier
La Peregrina with report 59574 dated 19 May 2011 from the SSEF Swiss Gemmological Institute stating that the analysed properties confirm the authenticity of this saltwater natural pearl



Price Realized - $11,842,500

THE TAJ MAHAL

AN INDIAN DIAMOND AND JADE PENDANT NECKLACE RUBY AND GOLD CHAIN, BY CARTIER

Estimate:  $300,000 - $500,000

Set with an inscribed heart-shaped table-cut diamond, within a red stone and jade mount set with table-cut diamonds, the reverse decorated with an enamel latticework motif, from a gold neckchain set with cabochon rubies and old mine-cut diamonds, mounted in gold, inscribed heart-shaped table-cut diamond bearing the Islamic date 1037 [1627-1628], gold and enamel cage of later addition, neckchain circa 1972, length adjustable, pendant suspends 17½ ins. at longest
Neckchain by Cartier, no. 53559 

Price Realized - $8,818,500

THE MIKE TODD DIAMOND TIARA - ANTIQUE DIAMOND TIARA

Estimate:  $60,000 - $80,000
Designed as nine old mine-cut diamond scrolls with larger old mine-cut diamond terminals, spaced by old mine-cut diamond latticework motifs, mounted in platinum and gold, circa 1880, 9 5/8 ins. circumference 

Price Realized - $4,226,500

I hope that whoever purchased the individual Emerald pieces by Bulgari picked up enough pieces to make a Suite - in which case it would have run approximately $14,000,000!


For the complete Auction Results see Christie's


NEXT UP?  JEWELRY (II)...TONIGHT!