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As detailed two weeks ago, sales of classic cars have been adversely affected by the current economic climate but jewels seem to have gone in the other direction.
At its ''important jewels'' auction in Sydney on June 27, Sotheby's claimed a new Australian record price for an individual piece of jewellery sold at auction. The diamond necklace shown here fetched a record $450,000 (including buyer's premium), while Sotheby's also claimed a total sales record of $2.62 million (also including buyers' premiums), the most for any single jewellery auction held in Australia.
A gem . this diamond necklace is the most expensive piece of jewellery sold at auction in Australia. It fetched $375,000 at Sotheby's Australia sale in Sydney on June 27. That adds up to $450,000, including a buyer's premium.
There were 224 lots listed over five hours at Sotheby's Double Bay salerooms, with overall cartier ring men copy sales figures of 122 per cent by value and 79 per cent by volume. Several items sold by private treaty. The record setting item, which fetched $375,000 on the hammer, was a necklace with an 8.19 carat, heart shaped diamond centrepiece, suspended from a 24 carat, marquise cut diamond line necklace.
The success of this sale comes as a bit of a surprise in this period of supposed economic hardship. Even the head of jewels at Sotheby's Australia, Hamish Sharma, seemed amazed. He described the result as overwhelming.
''The nature of the collection was very eclectic,'' he says, ''but the market is quite hungry for important jewels. We don't get this calibre all the time.''
He added that even in buoyant times the last month of the financial year is a tough time to sell luxury items. Sharma suspects that this sale reflects a growing trend towards investing in jewels, although he stresses that most will be worn rather than stored for the future.
''These are too pretty to lock away in a bank,'' he says.
Most clients bring them out for special social occasions, perhaps once or twice a year.
In his experience, jewellery of this quality is often bought as a celebration of a successful property deal or an unexpected knock off cartier ring size inheritance.
''The diamond is of huge strength at the moment,'' he says.
Significant pieces bought from Sotheby's included a 6.06 carat diamond ring from Bulgari that sold for $230,000 under the hammer after a fierce bidding war, fake cartier rings for men while another diamond ring sold for $110,000 under the hammer, well above the $70,000 upper estimate.
There is now strong interest in coloured diamonds, made popular by the likes of actor Jennifer Lopez. A fancy yellow diamond ring sold for $68,000 at Sotheby's. Perhaps the biggest successes cartier love band copy ring story of the sale was the Belle Epoque Cartier diamond bracelet that was brought for valuation by a woman who had inherited her late mother's jewellery box.
In one of those eureka moments that antique experts dream about, Sharma discovered the bracelet at the bottom of the box.
When he inspected it and saw the Cartier mark, he knew it was potentially valuable.
He dated it to about 1910 and put on a conservative $3000 to $5000 range of estimates but was not surprised when 11 bidders, including several from overseas, decided they wanted it.in regards to cartier bracelet red gold screw copy up to the minute vogue news p
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As detailed two weeks ago, sales of classic cars have been adversely affected by the current economic climate but jewels seem to have gone in the other direction.
At its ''important jewels'' auction in Sydney on June 27, Sotheby's claimed a new Australian record price for an individual piece of jewellery sold at auction. The diamond necklace shown here fetched a record $450,000 (including buyer's premium), while Sotheby's also claimed a total sales record of $2.62 million (also including buyers' premiums), the most for any single jewellery auction held in Australia.
A gem . this diamond necklace is the most expensive piece of jewellery sold at auction in Australia. It fetched $375,000 at Sotheby's Australia sale in Sydney on June 27. That adds up to $450,000, including a buyer's premium.
There were 224 lots listed over five hours at Sotheby's Double Bay salerooms, with overall cartier ring men copy sales figures of 122 per cent by value and 79 per cent by volume. Several items sold by private treaty. The record setting item, which fetched $375,000 on the hammer, was a necklace with an 8.19 carat, heart shaped diamond centrepiece, suspended from a 24 carat, marquise cut diamond line necklace.
The success of this sale comes as a bit of a surprise in this period of supposed economic hardship. Even the head of jewels at Sotheby's Australia, Hamish Sharma, seemed amazed. He described the result as overwhelming.
''The nature of the collection was very eclectic,'' he says, ''but the market is quite hungry for important jewels. We don't get this calibre all the time.''
He added that even in buoyant times the last month of the financial year is a tough time to sell luxury items. Sharma suspects that this sale reflects a growing trend towards investing in jewels, although he stresses that most will be worn rather than stored for the future.
''These are too pretty to lock away in a bank,'' he says.
Most clients bring them out for special social occasions, perhaps once or twice a year.
In his experience, jewellery of this quality is often bought as a celebration of a successful property deal or an unexpected knock off cartier ring size inheritance.
''The diamond is of huge strength at the moment,'' he says.
Significant pieces bought from Sotheby's included a 6.06 carat diamond ring from Bulgari that sold for $230,000 under the hammer after a fierce bidding war, fake cartier rings for men while another diamond ring sold for $110,000 under the hammer, well above the $70,000 upper estimate.
There is now strong interest in coloured diamonds, made popular by the likes of actor Jennifer Lopez. A fancy yellow diamond ring sold for $68,000 at Sotheby's. Perhaps the biggest successes cartier love band copy ring story of the sale was the Belle Epoque Cartier diamond bracelet that was brought for valuation by a woman who had inherited her late mother's jewellery box.
In one of those eureka moments that antique experts dream about, Sharma discovered the bracelet at the bottom of the box.
When he inspected it and saw the Cartier mark, he knew it was potentially valuable.
He dated it to about 1910 and put on a conservative $3000 to $5000 range of estimates but was not surprised when 11 bidders, including several from overseas, decided they wanted it.
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