Socialite’s Emerald Necklace, 36-Carat Diamond Share Spotlight at Sotheby&

An art deco-style emerald necklace from the collection of American socialite Helene Beaumont and a 36.57-carat near-flawless diamond shared the spotlight at Sotheby's Magnificent Jewels and Noble Jewels sale in Geneva yesterday. These top two items sold for $3.6 million and $5 million, respectively, accounting for more than 20% of the auction's total sales of $41.8 million. In all, 448 lots were offered.

As the wife of Louis Dudley Beaumont, one of the founders of the May Company department store chain, Helene was a renowned collector of fine jewelry from the most prominent design houses. The magnificent emerald necklace in yesterday's auction is believed to have been designed by Van Cleef & Arpels, circa 1935.

The front of the necklace is set with a line of 11 graduated sugarloaf cabochon emeralds, ranging in size from 3.27 carats to 18.09 carats. The necklace front may be detached and worn as a bracelet, and the two segments in the back can be combined to form a single necklace. A grading report states that the emeralds are of Colombian origin.

Sotheby's pre-sale estimate for the decadent piece was $2.9 million to $3.9 million.

The second headliner from yesterday's auction was a magnificent 36.57-carat diamond ring that was put up for sale by a private collector.

The D-color round diamond displays excellent cut, polish and symmetry, according to a grading report by the Gemological Association of America. It carries a clarity rating of VVS1, but could advance to "flawless" after minor replacing, noted the report.

The impressive diamond is claw-set between tapered baguette diamond shoulders.

Sotheby's spot-on pre-sale estimate was $4.4 million to $5.4 million.

Yesterday's sale also yielded a number of surprising overachievers.

One of those pieces was a fancy intense blue diamond ring, which sold for $853,799 — more than three times the pre-sale high estimate of $250,000. Designed by Tiffany and Co., the ring features a 1.01-carat step-cut blue diamond framed by baguette diamond shoulders. The diamond earned a clarity rating of VS1.

The performance of this emerald and diamond bracelet also impressed auction watchers, as the beautiful piece designed by Van Cleef & Arpels sold for $285,427, nearly six times the pre-sale high estimate of $49,640.

The bracelet is composed of clusters set with oval and circular-cut emeralds each within a frame of brilliant-cut diamonds.

Also beating the Sotheby's pre-sale high by nearly six times was a pair of turquoise and diamond earrings that sold for $136,509. Signed by Van Clef & Arpels, the earrings are set with cabochon turquoise entwined in brilliant-cut diamonds.

Credits: Images courtesy of Sotheby's.