Auction bidding escalates over period pieces

A standing-room only crowd at a Toronto auction vied for period pieces and diamonds over two carats, pushing the bidding higher despite a gloomy global economic outlook.

Held Nov. 16 at Dupuis Fine Jewellery Auctioneers, the auction saw an art deco brooch by Cartier Paris (circa 1910) formerly owned by J.P. Morgan sell for $32,000, while the gavel fell on a bid of $40,000 for a 2.34-carat marquise-cut D-Flawless diamond ring.

The bidding escalated on several pieces by Birks, including a diamond ring that sold for $46,000 and another for $24,000. However, the star of the event was a 4.08-carat round diamond ring that went for $95,000.

A determined overseas buyer on the phone out-bid several bidders in the salesroom, intensifying the auction action.