Monday, 12th December 2005 (3817 views)

Sotheby's raised $23.9 million in one sitting last week, as some of the world's finest jewellery pieces went under the hammer.

Over nine out of ten items in its 'Magnificent Jewels' sale found owners last Thursday (December 8th), indicating the popularity of high-end jewellery in the run up to Christmas.

One wealthy punter shelled out $1.6 million for an opulent 26.09-carat Harry Winston diamond ring.

Four other items fetched prices exceeding $500,000, including a glittering 3.16-carat blue diamond and a mesmerising sapphire and diamond ring.

Rene Lalique's private collection was also auctioned at the sale and fetched $.1.12 million – over twice its estimated value.

The auction house's Magnificent Jewels sales are renowned for attracting the world's wealthiest collectors and professional dealers.

Recent reports from the US indicate that luxury goods are selling faster than any other product sector in the run up to Christmas.

All things golden and sparkly are flying off the shelves, with one large mall operator telling the Associated Press that luxury goods sales are up double-digits on last year.

 

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