Lauder jewellery auction propels Sotheby's to $65m record

Lauder jewellery auction propels Sotheby's to $65m record

The jewellery sale of Estee and Evelyn Lauder saw a 72% increase for a fancy intense pink diamond

The spectacular collections of Estee and Evelyn Lauder have pushed Sotheby's New York to its highest ever total for a day of jewellery sales,on December 5.

TheMagnificent Jewels auctionstotalled $64.8m,passing their combined $63.3m high estimate by 2.3%.

Evelyn Lauder Pink Diamond ring Profits from the sale will benefit Evelyn's Breast Cancer Research Foundation

The sales were highlighted by a dazzling fancy intense pink diamond ring, which brought $8.6m and achieved an outstanding 71.8% increase on the $5m high estimate. Made by Oscar Heyman & Brothers and consigned from the collection of Evelyn Lauder, the profits will benefit the Breast Cancer Research Foundation.

While her mother, Estee, was the co-founder of the internationally renowned cosmetics firm Estee Lauder Companies, Evelyn was a philanthropist and socialite who established the charity in 1991, and was responsible for the creation of its popular Pink Ribbon symbol.

Wallis Simpson diamond necklace Lauder Sotheby's Purchased from Wallis Simpson, the diamond was later transformed by Estee Lauder

From the collection of Estee was a Van Cleef & Arpels platinum and18 karatgold fancy intense yellow diamond necklace, which was also once part of the esteemed collection of Wallis Simpson.

Much of Simpson's jewellery collection was originally sold through Sotheby's in 1987, although one particular diamond that was purchased from jeweller Harry Winston in 1951 was missing. That 47.12 carat yellow diamond, which was first worn as a ring by the duchess, had already been sold to Estee in 1978.

The same year, Estee had the heart-shaped diamond made into a necklace by Van Cleef & Arpels. It sold at yesterday's auction for $2.5m, bringing a 27.3% increase on its $2m valuation.

Paul Fraser Collectible is currently offering collectors the chance to be part of Simpson's extraordinary story, with an autographed letter that she sent to her close friend, Baroness Rothschild.

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