NEW YORK, NY.- An important diamond solitaire ring, weighing 17.97 carats realized $1,447,500 at the Fine Jewelry auction at Bonhams on Dec. 6 in New York. The sale, which featured a strong group of sapphires and emeralds made a total of $6,381,000 in the 171-lot sale.

Anticipation had been building for the moment when auctioneer Matthew Girling, Global CEO and Group Jewelry Director opened the bidding on the last lot of the sale, the 17.97 carat rectangular step-cut diamond solitaire ring. Estimated at $1,000,000-1,500,000, the platinum-mounted diamond - D color, VS1 clarity, Type IIa - attracted prospective buyers from around the world. After frenzied bidding, it was finally hammered down to a United States buyer on the phone.

Susan Abeles, Director of Jewelry, Bonhams US, commented, “The success of the entire sale, including this top lot, illustrates the buoyancy of the Jewelry market. I am delighted at this exceptional result.”

Additional diamond highlights include:

• A 6.00 carats diamond solitaire ring sold for $211,500 (estimate: 75,000-125,000)
• A 11.93 carats diamond solitaire ring reached $181,250 (estimate: $50,000-70,000)
• A 5.19 carats diamond ring fetched $131,250 (estimate: $125,000-150,000)

STRONG SHOWING BY SAPPHIRES
Bonhams also made waves with a rich blue Kashmir sapphire and diamond ring by Shreve & Co. dating from the 1900s, the cushion mixed-cut 7.12 carats gem sold for $931,500, hurdling past its estimate of $70,000-90,000. Susan Abeles, Director of Jewelry, Bonhams US, adds: “Fine and rare Kashmir sapphires typically display a velvety quality unique to the region as exemplified in this turn of the century example. They are among the most highly prized gems for serious collectors given their extreme rarity.”

A cushion modified mixed-cut sapphire weighing 27.49 carats, flanked by 4.95 carats diamonds reached $175,000 (estimate: $100,000-150,000). In addition, a sapphire and diamond pendant necklace belonging to a royal family – featuring an oval mixed-cut sapphire, weighing 25.26 carats – made $143,750 against an estimate of $80,000-120,000.

In the moments after the climatic and energetic sale, Abeles commented “The collection of property offered in this sale was beautiful; prices were strong for colored gemstones and diamonds. I am thrilled at the opportunity to offer this to our international community.”