Colored Gems Dominate Bonhams NY Auction

RAPAPORT... Colored gemstones were the leading sellers at the Bonhams NewYork auction, which saw a total of 84% of lots sold for a combined $4.5 million. The top lot, a Cartier Art Deco ruby and diamond bracelet (pictured),sold for $324,500, smashing its pre-sale estimate of $80,000 to $120,000.A ruby and diamond ring also beat the auctioneer's expectation of $80,000 to $120,000, fetching$131,250. "[We] are delighted that they achieved such strong prices,"said Caroline Morrissey, New York senior jewelry specialist for Bonhams. "It demonstratesthe huge demand for best in class-specimen rubies." Sapphires also did well, with an emerald-cut, 9.85-caratKashmir sapphire and diamond ring selling for $175,000, which was $55,000 over its highpre-sale estimate. A cushion-shaped, 5.47-carat Burmese sapphire and diamondring sold for $90,000, triple its estimate. Other popular items included a brilliant-cut, marquise-shaped,2.98-carat, very light blue diamond, which went for $162,500,way above its estimate of $20,000 to $30,000. A collection of David Webbjewelry featuring 16 separate pieces also exceeded expectations. The Bonhams London Fine Jewelry sale will take place on April25, followed by its Hong Kong Rare Jewels and Jadeite auction, scheduled for May27.