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Going, Going, Gone Wrong: Jewels That Failed to Sell at Auction

December 25, 2024
Leah Meirovich

This year was a tough one at auction for many high-value jewelry lots, as the luxury market took a downturn and many consignors pulled top items prior to the sale, worried prices achieved would not live up to expectations.

Consumers were also more careful with their purchases than in previous years. Some of the pieces that failed to find buyers included spectacular colored diamonds, like the Allnatt brooch, and jewels by famed design houses such as Asprey and Cartier.

These were the top 10 most valuable jewels that failed to sell at auction this year:

Ring, with a marquise brilliant-cut internally flawless center stone, flanked by trilliant-cut white diamonds at Christie’s image — This ring, with a marquise brilliant-cut, 5.02-carat, fancy-deep-blue, internally flawless center stone, flanked by trilliant-cut white diamonds, was expected to bring in up to $10 million at the October 29 Hong Kong Magnificent Jewels sale at Christie’s. However, it was withdrawn due to “a strategic decision made by our specialists to adjust the offerings for the sale,” said Ronny Hsu, head of jewelry sales at Christie’s Hong Kong.

Cartier Allnatt diamond brooch containing a round-cornered square brilliant-cut fancy-vivid-yellow diamond, with diamond petals and leaves at Sotheby’s image — Known as the Allnatt diamond, this Cartier brooch contains a round-cornered square brilliant-cut, 101.29-carat, fancy-vivid-yellow diamond as the center of a flower, with diamond petals and leaves. It was estimated to fetch up to $7.2 million at the Sotheby’s May 14 Magnificent Jewels and Noble Jewels sale in Geneva, but the consignor “elected to retain the jewel,” removing it from the auction, Sotheby’s said.

Necklace composed of 108 jadeite beads and a clasp set with a cabochon ruby and brilliant-cut diamonds image. — A necklace composed of 108 jadeite beads and a clasp set with a cabochon ruby and brilliant-cut diamonds had a high price tag of $6.4 million at the October 2 Sotheby’s Magnificent Jewels sale in Hong Kong. However, the consignor withdrew that piece, along with another on this list.

Cut-cornered rectangular-cut, 9.01-carat, fancy-blue, VVS2-clarity diamond ring image. — Sotheby’s had high hopes for this cut-cornered rectangular-cut, 9.01-carat, fancy-blue, VVS2-clarity diamond ring, making it the lead item at the December 17 Important Jewels sale in Hong Kong. However, it remained unsold at the auction, where it carried a $6.4 million upper estimate.

3.18-carat, fancy-vivid-pink diamond ring image. — Bearing a top price of $5 million, this ring, containing a 3.18-carat, fancy-vivid-pink diamond, was one of the highlights presented at the June 11 Magnificent Jewels sale at Christie’s New York.

Oval-shaped diamonds, interspersed with pear- and marquise-shaped diamonds and seven cushion-cut Kashmir sapphires ranging from 2.40 to 11.37 carats necklace image. — This necklace by designer David Morris comprises graduated oval-shaped diamonds, interspersed with pear- and marquise-shaped diamonds and seven cushion-cut Kashmir sapphires ranging from 2.40 to 11.37 carats. It had a high estimate of $5 million at the Sotheby’s New York Magnificent Jewels auction on June 7.

Round brilliant-cut, 67.20-carat, fancy-vivid-yellow, VVS2-clarity diamond ring image. — Centering a round brilliant-cut, 67.20-carat, fancy-vivid-yellow, VVS2-clarity diamond, this ring was set to bring in $5 million at the October 2 Hong Kong Magnificent Jewels sale at Sotheby’s, but its consignor retracted it prior to the auction.

Square emerald-cut, 45.07-carat, fancy-vivid-yellow, VS1-clarity diamond ring image. — At the Phillips New York Jewels sale on June 12, three fancy-color diamonds set to lead the auction failed to find buyers, including this square emerald-cut, 45.07-carat, fancy-vivid-yellow, VS1-clarity diamond ring that was estimated at up to $3.5 million.

Necklace and earrings set, featuring 50 graduated round, fancy-vivid-yellow diamonds and one round, fancy-intense-yellow diamond weighing a total of 55.26 carats, accented by white diamonds image. — Asprey created this matching necklace and earrings set, featuring 50 graduated round, fancy-vivid-yellow diamonds and one round, fancy-intense-yellow diamond weighing a total of 55.26 carats, accented by white diamonds. It was set to sell for up to $3 million at a March 7 Sotheby’s auction in New York, called From the Vault: Exceptional Signed Jewels.

Necklace with 71 graduating emerald-cut, D-color, internally flawless and flawless diamonds weighing 114.92 carats image. — A rivière necklace with 71 graduating emerald-cut, D-color, internally flawless and flawless diamonds weighing a total of 114.92 carats was offered for up to $2.6 million at the Sotheby’s October 2 Magnificent Jewels sale in Hong Kong.

Main image: Some of the top jewels that failed to find buyers at auction. (Sotheby’s/Christie’s)

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Going, Going, Gone Wrong: Jewels That Failed to Sell at Auction

Leah Meirovich

news@rapaport.com

Auction

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