Paspaley necklace auctions for $44,000 in Sydney jewellery sale

Sotheby's Australia saw dazzling results at its Important Jewels Auction on December 4. The Sydney auction, which comprised more than 300 glittering lots, totalled $5m, with an eye-catching Paspaley pearl necklace and a Jean Schlumberger bangle for Tiffany & Co the stand out sales.

The Paspaley pearl, opal and diamond necklace weighs 131.69 carats.

A significant collection of Paspaley pearl jewellery was offered; it was an unusual opal, south sea pearl and diamond necklace, however, that really drew the bidders, almost trebling its presale estimate of $16,000 to sell for $44,000. The flexible, collar necklace is of foliate design and set with variously shaped turquoise opals, punctuated by diamonds and pearls.

An 18 karat gold and enamel bangle designed by Jean Schlumberger for Tiffany & Co carried an estimate of $34,000 and sold for $38,000. Of bombe design, the gold bangle is accented with bold enamel work depicting foliate motifs and polished fluted cones between gold, fluted batons.   

Diamond pieces also performed well: a pair of white gold, brilliant-cut diamond earrings selling for $195,000 (comfortably above their presale estimate of $168,000).

Following the successful auction, chairman of Sotheby's Australia, Geoffrey Smith, said: "We continue to see strong demand for quality gemstones and designer jewels and are delighted with the results of our Important Jewels Auction this year."

The jewellery market dates back centuries and is a well-established investment area.

Click here for more information on investing in jewellery.

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