A natural pearl hammered world record!

A record for any sale of royal jewels at Sotheby’s,

Eclipsing the long-held benchmark of $50.3m established

Geneva, one of the most important historic collections of royal jewels made auction history. One hundred treasures from the collection of the Bourbon Parma family together realised CHF 53.5m ($53.1m), more than seven times the pre-sale high estimate of CHF 7m ($7m) and a record for any sale of royal jewels, eclipsing the long-held benchmark of $50.3m established by the sale of jewels of the Duchess of Windsor established in 1987.

Every jewel offered tonight found a buyer, with many selling for high multiples of pre-sale expectations.

Following exhibitions of the jewels around the world, international collectors and history-lovers demonstrated the full force of their fascination with the historic treasures.

Participants from 43 countries took part in the sale, and bidding this evening was resolutely modern, with 55% of registrants participating online. A testament to the universal appeal of the jewels, a quarter of participants was new to Sotheby’s. Bidders entered the competition with an eager disregard for pre-sale expectations, driving 90% of prices in the sale beyond the high estimates.

David Bennett, Worldwide Chairman of Sotheby’s International Jewellery Division, said: “More than thirty years ago, I was part of the specialist team entrusted with the landmark sale of the jewels of the Duchess of Windsor – a sale that has held a legendary status ever since. Tonight a new benchmark was established in the sale of Royal and Noble jewels, a field in which Sotheby’s has been the pioneer for many years.”

Daniela Mascetti, Sotheby’s Jewellery Chairman, Europe, added: “Tonight we saw the Marie Antoinette factor work its magic. No other queen is more famous for her love of jewels, and her personal treasures, pearls and diamonds that survived intact the tumults of history, captivated the interest of collectors around the world.”

The star lot of the auction, a natural pearl and diamond pendant from Marie Antoinette’s personal collection, soared to CHF 36,427,000 ($36,165,090), leaving its estimate of CHF 1-2m / $1-2m far behind, and establishing a new auction record for a natural pearl.

The pendant was among 10 exquisite pieces which once belonged to Queen Marie Antoinette, all of which attracted fierce bidding. Together they realised a total of CHF 43.1m / $42.7m against a pre-sale estimate of CHF 1.6 – 2.9 million / $ 1.6 – 2.9 million.

These jewels had an extraordinary story. Before being taken into captivity, Marie Antoinette carefully wrapped her pearls, diamonds and rubies in cotton, placed them in a wooden chest and sent them to Brussels. From there, they were taken to Vienna, into the safe keeping of the Austrian Emperor, her nephew. Restored to Marie Antoinette’s daughter, Madame Royale, following her release in 1795, the jewels were then passed on to the Bourbon Parma family with who they remained for the next 200 years.