Kashmir Sapphire Beats Estimate at Bonhams

RAPAPORT... Bonhams sold a Kashmir sapphire and diamond brooch for $1.1 million at its New York Jewels auction, bringing in more than double its low valuation and surpassing its high estimate.The cushion-shaped mixed-cut, 17.21-carat sapphire, flanked by marquise- and pear-shaped table-cut diamonds, was created in 1910. It led the December 7 sale, which achieved a total of $3.8 million, Bonhams said Tuesday.A ring featuring an oval-shaped mixed-cut, 39.36-carat sapphire, surrounded by round brilliant-cut diamonds, went for $250,313, just over its high valuation. Meanwhile, an old pear-shaped brilliant-cut, 5.80-carat diamond ring fetched $169,063, well exceeding its $100,000 high estimate. A pair of earrings containing round brilliant-cut diamonds weighing 10.28 and 10.34 carats also garnered $169,063, smashing its high estimate.Other notable items included a collection of signed jewels from the estate of philanthropist Mary Lee Hermann. The group, which featured pieces from David Webb, Verdura, Cartier, Tiffany & Co., Buccellati, and Bulgari, sold in full, bringing in $364,000 against a high estimate of $290,500.While Bonhams scored with the sale of a Kashmir sapphire, a similar stone failed to find a buyer at Phillips's New York sale. The cushion-shaped modified brilliant-cut, 19.42-carat Kashmir sapphire was expected to fetch $1 million to $1.5 million at Monday's auction.Image: The 17.21-carat Kashmir sapphire brooch. (Bonhams)