Estimated to garner $3 to $5 million, the 32.01-carat ‘Annenberg Diamond’ shattered all expectations when it went to an anonymous bidder for $7.7 million at Christie’s fall auction.
Mounted in a ring, the Asscher-cut diamond belonged to the late Leonore ‘Lee’ Annenberg, an art collector and philanthropist married to Walter H. Annenberg, a newspaper publisher, broadcaster, diplomat, and philanthropist. She died in March at the age of 91. Manhattan jeweller David Webb designed the ring, which also features two pear-shaped diamonds weighing 1.50 and 1.61 carats.
The auction, which also included the Rare Jewels and Objets d’Art: A Superb Collection, saw a sell-through rate of 85 per cent by lot and 94 per cent by value for a total of $46.5 million.
“Virtually every lot exceeded its estimate and the $7.7-million Annenberg Diamond astonished even the most seasoned diamond dealer,” said Rahul Kadakia, head of jewellery at Christie’s New York. “It was an auction to remember.”
