The necklace’s sale also set a new record per-carat price for a Paraíba tourmaline sold at auction—a little over $310,000 per carat.
The piece, featuring a 13.54-carat triangular modified brilliant-cut Paraíba tourmaline as well as round, pear, and square-shaped diamonds, generated spirited bidding in the room, online, and on the phone, the auction house said, soaring past its high estimate of $600,000.
The matching earrings were also a highlight.
Set with oval modified brilliant-cut Paraíba tourmalines of 3.45 and 3.19 carats, the pair sold for $1.3 million, far exceeding their highest estimate, $180,000.
Both the pendant and the earrings are signed Tiffany & Co.
Christie’s said Tiffany & Co. was among the first to recognize the rarity and beauty of Paraíba tourmalines, securing “exceptional access” to the original Brazilian material soon after its discovery in 1989.
Though more deposits were later uncovered in Mozambique and Nigeria, the material from Brazil stands apart for its intense saturation and glow.
The sale of these two lots underscored the extraordinary demand for rare tourmaline pieces and marked a defining moment in the auction, Christie’s said.
Both pieces were from the collection of prominent art collectors and philanthropists Max and Cecile Draime.
The couple had a strong relationship with Tiffany & Co., and Cecile’s jewelry collection contained bright and colorful pieces that included gemstones like Paraíba tourmalines as well as vibrant orange garnets and purplish-blue tanzanites.
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Christie’s Magnificent Jewels auction, held Dec. 10, achieved a total of $46.5 million and 95 percent of the lots found buyers.
The auction house noted that sapphires performed exceptionally well at the sale.
A pair of antique sapphire and diamond earrings, the second highest grossing lot in the sale, sold for $3.1 million, double their low estimate.
A pair of platinum earrings with cushion mixed-cut sapphires of 12.61 and 11.92 carats and old-cut diamonds, circa 1910
A 16.23-carat sapphire and diamond ring realized $1.8 million, exceeding its estimate of $500,000 to $700,000.
Additionally, a ring featuring a 21.54-carat Ceylon sapphire sold for $304,800, about five times its highest estimate of $60,000.
The piece was part of the collection of Maureen Dwyer Smith, a champion of the arts and notable figure in Chicago’s philanthropic community who died earlier this year.
Christie’s said, “These results highlight the enduring appeal and demand for rare sapphires among collectors worldwide.”
Also on offer was “Property of Mr. and Mrs. John D. Rockefeller 3rd, from the Collection of Sandra Ferry Rockefeller,” which consisted of three Cartier jewels and a pair of Raymond Yard multi-gem and diamond parrot clip-brooches.
It sold for $2.6 million, slightly exceeding its high estimate.
The collection achieved a total of $3.1 million, with each lot topping its highest estimate.
Christie’s jewelry sales continue online with “Splendor & Style: Jewelry from the Collection of a Distinguished Lady,” a single-owner sale that closes today.
