Paris— As the world grapples with inflation and slowing consumer demand, Sotheby’s Paris is preparing to send more than 260 glittering lots under the hammer on Sept. 30, marking the official launch of Europe’s fine and high jewelry fall season.
The sale promises opulence, showcasing storied houses like Cartier, Van Cleef & Arpels, Chaumet, Mauboussin, Boucheron, Graff, and de Grisogono. Many of these jewels are fresh to market, emerging from private collections for the very first time.
The Blue Blood of Gems
At the center of attention is a Cartier ring set with an 18.25 ct. royal blue Burmese sapphire, enhanced by a band of baguette and brilliant-cut diamonds. Estimated at $468,000–$702,000, it embodies the kind of rarity that fuels global bidding wars.
Cartier’s iconic Panthère diamond bangle with sapphire spots, an onyx nose, and emerald eyes carries a high estimate of $352,000. Similarly, a 10.68 ct. unheated Kashmir sapphire ring could cross the $300,000 threshold.
Graff and Beyond
Other headline-makers include a pair of Graff fancy intense yellow diamond earrings with stones weighing 6.53 ct. and 7.04 ct. respectively, expected at $210,000–$327,000. A 4.03 ct. fancy pink diamond pendant could also hammer down between $211,188 and $281,585.
Historical intrigue enters the sale with a sapphire and diamond bracelet-watch by Boucheron, estimated at up to $93,000, and a circa 1940 “secret” watch by Van Cleef & Arpels, which conceals a square dial beneath diamond-set push pieces. A ruby and diamond VCA Ludo watch is listed between $46,000–$70,000.
A Market of Contradictions
The auction builds on Sotheby’s strong spring showing in Paris, when sales topped $8 million—the first time since 2018. For collectors and the ultra-wealthy, the message is clear: the appetite for rare stones and signed jewels remains resilient, even as the global middle class cuts back on discretionary spending.
Critics argue that auctions like this highlight the widening gap between luxury markets and everyday consumers. While the average buyer faces economic pressure, multimillion-dollar sapphires and diamond bangles are still setting records.
A Season of Sales
The Paris auction will be held live at Sotheby’s Rue du Faubourg Saint-Honoré showroom and online, kicking off a series of high-profile European events with stops in Milan, Geneva, and London, before the calendar shifts to New York and concludes with Sotheby’s inaugural high jewelry sale in Abu Dhabi this December.
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