Van Cleef Zip Necklace Sets Record at Christie's

RAPAPORT... A Van Cleef & Arpels Zip necklace originally designed for Wallis Simpson was the breakout star of the most recent Christie's Paris jewelry sale, raking in nearly three times its high estimate.Created in 1951, the diamond and ruby piece sold for EUR 819,000 ($820,005), smashing its EUR 300,000 ($300,368) upper estimate and setting a new world record for a Van Cleef & Arpels Zip necklace, Christie's said Monday. In total, the June 23 to July 7 Paris Joaillerie online auction garnered $9.6 million.Other notable items included a ring with a cushion modified brilliant-cut, 25.40-carat, K-color, VS1-clarity diamond center stone, surrounded by sapphires and smaller diamonds. The jewel went for EUR 441,000 ($441,531), well above its EUR 300,000 upper price tag. A ring bearing a cushion brilliant-cut, 10.56-carat, Kashmir sapphire brought in EUR 403,200 ($403,686), just edging out its EUR 400,000 ($400,327) high price.Meanwhile, a Cartier brooch containing a cushion brilliant step-cut, 4.96-carat Kashmir sapphire and marquise-cut diamonds fetched EUR 403,200, more than tripling the EUR 120,000 ($120,098) it was originally expected to realize.Participants in the sale hailed from 37 countries across five continents, Christie's noted. Of those, some 20% of bidders were new buyers.Image: The Van Cleef & Arpels Zip necklace. (Christie's)