Fancy Light Pink Diamond ring brings $358,500 as top lot in $5+ million Fine Jewelry event at Heritage Auctions

Strong market seen for top quality diamonds at May 2 auction; Padparadscha Sapphire tops $65,000, Jadeite Jade pendant brings $50,000+ amidst spirited bidding at the Fletcher-Sinclair Mansion

NEW YORK – A superlative Fancy Light Brownish-Pink Diamond, Diamond, Platinum Ring was the subject of intense bidding and great admiration on its way to a final price of $358,500 on Monday, May 2, to top the offerings in Heritage Auctions’ $4.957+ million New York Signature® Fine Jewelry Auction at the Fletcher-Sinclair Mansion. All prices include 19.5% Buyer’s Premium.

“We saw some very good prices across the board, especially on diamonds,” said Jill Burgum, Director of Fine Jewelry at Heritage Auctions. “It all points positively to signs of a recovering market; our previews were well-attended from coast to coast, multiple bidding wars ensued at the event and, as a result, we saw top prices achieved.”

All told, 1,253 bidders vied for just under 1100 lots, translating into a 90% sell-through rate by lot value.

One of the most pleasant surprises of the auction was the $65,725 price realized for a natural Padparadscha Sapphire, Diamond, Gold Ring, from the Property of the Estate of John R. Archer, which went home with an advanced bidder after several minutes of intense bidding.

“Padparadscha sapphires, a pinkish-orange variety of corundum originally mined in Sri Lanka, are very rare and highly valued,” said Burgum. “The name derives from the Sinhalese word for lotus blossom. The rarest of all padparadschas, like the example in our auction, is the totally natural variety, with no sign of treatment.

” A strong grouping of Jade jewelry caused a stir with collectors in all corners of the globe, setting off several bidding wars and realizing superb prices, as evidenced by the $50,788 price realized for a dramatic Jadeite Jade, Diamond, Platinum, Gold Pendant, which brought more than seven times its pre-auction estimate of $7,000+.

Much was made of a Diamond, Platinum Ring set from the Property of the Mary Grace Horlock Estate, and the ring did not fail to impress bidders at the auction, rising quickly in price before finishing the day at $179,250, while an Emerald Cut Diamond, Platinum Ring made waves of its own with a price realized of $119,500 and a Moyer Diamond, Platinum, Gold Ring came in at an impressive $131,450.

Further highlights include, but are not limited to:

Fancy Deep Brownish-Yellow Diamond, Diamond, Platinum Ring-Dant: Realized: $101,575.

Diamond, Platinum Bracelet: Realized: $95,600.

Diamond, Platinum, Gold Ring: Realized: $89,625.

Diamond, Platinum Ring: Realized: $74,090.

Gentleman's Colored Diamond, Gold Ring: Realized: $50,190.