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Christie’s May Auction

May 30, 2009 by Administrator · Leave a Comment 

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Thomas Mulier in Geneva reports for Bloomberg.com that Christie’s auction house raised 15.1 million Swiss francs ($14 million) in a watch auction in Geneva yesterday, after a rival Sotheby’s auction missed the low end of its estimated range. The top lot was a pre-owned Patek Philippe watch with a calendar that automatically adjusts to leap years that sold for $1.8 million, according to the London-based auctioneer.

The entire sale was estimated to raise 8.9 million francs to 12.8 million francs. A Sotheby’s auction of timepieces in the same Swiss city on May 10 raised 3.75 million francs, missing the low end of the sale’s estimated range by about 50,000 francs.

Christie’s sold a brass telescope given to Napoleon Bonaparte in 1800 as he traveled via Geneva to join a battle in Genoa for 147,000 francs, about triple its top estimate. The auction house also sold a Breguet carriage clock originally made for the Queen of Naples for 723,000 francs, exceeding its high estimate. It will be displayed in the Breguet museum, according to Aurel Bacs, co-head of Christie’s global watch unit.

Estimates don’t include the buyer’s premium, reports Mulier, which for Christie’s were 25 percent of the price for the first 60,000 francs, 20 percent from there to 1.2 million francs, and 12 percent of any amount in excess of that.

If you have a valuable timepiece, don’t forget to check out the San Diego Luxury Pawn Shop Report’s tips for selling a used watch.

Increased Demand for Platinum Jewelry in 2009?

November 25, 2008 by Administrator · Leave a Comment 

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According to a report from Johnson Matthey, demand for platinum jewelry may rise next year. During the past year, the rising price of platinum (which topped at $2,200 an ounce) had a negative impact on jewelry manufacturing. As prices rose, recycling of old platinum jewelry, especially in China and Japan, further depressed demand. But when the shocking news from the financial sector hit in the third quarter, prices of precious metals, including platinum, dropped significantly.

The current spot price of platinum has been hovering near $825 an ounce, while gold has dropped back to around $750, after topping $1,000 an ounce earlier in the year. The bigger drop in platinum prices compared to gold prices is said to be attributed to the fact that platinum is predominantly an industrial metal, while gold is more of a financial metal.

If demand for platinum jewelry increases that means the price of platinum will likely rise, too. So, if you are looking to sell some platinum jewelry, you may want to wait a few months to see what happens on the market. Platinum, along with its sister metals Palladium and Rhodium, may be set for a rebound.

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It always surprises us the amount of people there are in San Diego who are interested in the happenings at the big auction houses on both coasts and abroad. If you are one of them, we have some bad news: Sotheby’s Sale Disappoints.

Sotheby’s Sale Disappoints

November 25, 2008 by Administrator · Leave a Comment 

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We reported last month how watch auctions were setting records, but not so with a recent jewelry auction at Sotheby’s in Switzerland. Nearly 150 jewels including the star lot, a huge blue diamond, were left unsold, as nervous buyers held back amid uncertainty in world markets, the auction house said. Read more

Collectible Watch Market is Red Hot

October 27, 2008 by Administrator · Leave a Comment 

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Looking further proof that the collectible watch market is going like gangbusters? Here it is: One day after Antiquorum brought in nearly $10 million at its fall clock and watch auction, Sotheby’s hauled in nearly $4.1 million in New York at its Oct. 17th auction of “Important Watches.” Like Antiquorum, Sotheby’s saw strong interest from buyers not only in the United States, but also Europe and Asia. Read more

Catherine The Great’s Pearl Necklace?

September 10, 2008 by Administrator · Leave a Comment 

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A mysterious pearl necklace that may have once belonged to Catherine the Great, Empress of Russia, is this week’s featured jewel. Automotive billionaire Horace Elgin Dodge purchased the necklace from Cartier in Paris in 1920 for his wife Anna Thomson Dodge at the astonishing price of $825,000 – about $8 million in today’s dollars.

The original Cartier invoice states that the “five row pearl necklace, consisting of 389 pearls weighing 4305 grains” was accompanied by an “enamel clasp representing Catherine, Empress of Russia” and “two diamond alternate clasps.” Several newspaper accounts from the ’20s suggested that the pearls did indeed once belong to Catherine; Anna Thomson Dodge’s heirs maintain that Horace bought the pearls from Cartier on that basis.

Now reduced to three strands comprised of 224 pearls and two Cartier diamond clasps, the necklace (above) is estimated at $500,000- $700,000 – a hefty sum, to be sure, but far less than Horace originally paid. The reason for the depreciation has less to do with the reduction in strands than with changing fashion and an evolving jewelry marketplace.

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Come to the San Diego Luxury Pawn Shop Report for all your news on watch and jewelry auctions. Read articles like this: Sotheby’s Magnificent Jewels Auction Expects $64 M.

Sotheby’s Magnificent Jewels Auction Expects $64 M

September 9, 2008 by Administrator · Leave a Comment 

Rapaport reports that Sotheby’s Hong Kong will conduct its Magnificent Jewels and Jadeite 2008 Autumn Sale at the Hong Kong Convention and Exhibition Centre on October 7, 2008. Some 320 lots will be offered with an estimated total value of HKD500 million ($64 million.)

The highlight of the sale is a fancy vivid yellow diamond necklace with an estimated value of $7.4 million to $9.5 million, featuring a 102.56-carat fancy vivid yellow diamond (pictured.) It has a flower pendant that can be detached from the necklace and worn as a brooch.

Quek Chin Yeow, deputy chairman and head of jewelry at Sotheby’s Asia, said, “The diamond is the largest fancy vivid yellow diamond ever to be offered at auction anywhere in the world; this extraordinary diamond, with its impressive size and auspicious golden yellow color, will be a major attraction.”

Another highlight of the sale will be a colored diamond butterfly brooch by Carvin French. The center of the brooch is set with one fancy vivid blue diamond and two fancy intense blue diamonds, weighing 5.53 carats in total. Complementing the blue hues are the vibrant yellow and pink diamonds mounted on the wings of the butterfly. (Estimated value $3.8 million to $4.6 million.)

With strong demand for top quality diamonds weighing more than 15 carats, an impressive 34.07 carat cushion-shaped D, IF, diamond ring will undoubtedly attract much attention. (Estimated value $6 million to $7 million.)

Sotheby’s Hong Kong will present a pair of ruby and diamond earrings by James de Givenchy for Taffin. The two unheated, natural rubies, weighing 10.02 and 10.91 carats respectively, are well-matched in both color and shape. Each surrounded by eight rose-cut pink and eight colorless round diamonds, these rubies show a fiery red hue with dazzling brilliance fascinating all connoisseurs. (Estimated value $3.8 million to $4.5 million.)

Also featured among the colored stones is a pair of star rubies, alexandrite and diamond earrings. The rubies, weighing 19.45cts and 22.13cts each, are remarkably matched in both color and shape, and boast intense hues and fine clarity. (Estimated value $666,000 to $871,000.)

A further highlight is a Colombian emerald and diamond ring without any oil treatment. This natural 10.09 carat emerald boasts high clarity and a saturated color. It is embellished by 10 round diamonds, emphasizing the magnificence of the noble green color.

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If you are a San Diego resident who is a collector of fine jewelry from brands like Tiffany and Cartier, then you’ll want to read this article about how Vintage Jewelry is a Popular Investment.

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