A Cartier ruby ring fetched $30 million as Sotheby’s sold $161 million of gems, the highest total for a jewelry auction, as collectors snapped up precious stones in Geneva.
Cartier’s 25.59-carat “Sunrise Ruby” exceeded estimates that ranged from $12 million to $18 million as it was sold Tuesday in Geneva, Sotheby’s said in a statement. The untreated pigeon’s blood color Burmese ruby set a record price for a Cartier jewel in auction.
A rare 8.72-carat Fancy Vivid Pink diamond that is said to have links to the niece of Napoleon I, Princess Mathilde Bonaparte, fetched $15.9 million. Estimates called for $14 million to $18 million.
Monday a Picasso painting set a record for the most expensive sale of artwork at auction at a Christie’s sale in New York. The Geneva auction season continues Wednesday as that auction house holds its jewelry sale, which includes a 35.09-carat sapphire and diamond ring. The total estimate exceeds $80 million.