Phillips' First NY Jewelry Sale Brings in $2.4M

RAPAPORT A Bulgari necklace fetched $200,000 at Phillips auction house's first New York sale, exceeding its presale estimate of $120,000 to $180,000 The piece includes 39.35 carats of oval-shaped rubies and 6 carats of round brilliant-cut diamonds A number of lots did not find buyers at the December 6 sale, including a round brilliant-cut, 117-carat, fancy-intense-blue diamond, which had a valuation of $600,000 to $800,000.

The auction - the first led by Susan Abeles, the company's new head of jewelry for the Americas - sold a total of 65% of lots on offer Phillips has only recently set up a jewelry department in New York, and hired Abeles from Bonhams in February In May, Eva Violante joined as senior specialist and vice president of jewelry for the Americas, and Anne Mock started in her role as associate jewelry specialist.

Image: The Bulgari Burmese ruby and diamond necklace. . Source