Dazzling jewels and art for sale

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Jewellery collections of Huguette M. Clark, described as one of the last great heiresses of America’s gilded age, and philanthropist Lily Safra, who was married to banker Edmond J. Safra, are being auctioned by the Christie’s in New York and Geneva.

Huguette, who died in May last year at the age of 104, was the seventh and youngest child of American copper mining tycoon and industrialist William A. Clark. He was considered to one of the richest men in America, with a fortune said to have rivaled that of the Rockefellers.
Huguette died a recluse with a fortune estimated in the hundreds of millions and with no direct descendants.
The jewellery collection of 17 extraordinary jewels is expected to get between $9 million and $12 million at the auction in New York on April 17 by Christie’s. The star of her collection, which is believed to have been stored in a bank vault since 1940s, is a cushion-cut fancy vivid purplish pink diamond of 9 carats estimated to sell for $6-8 million.
In her collection, another high seller is expected to be an exceptional colourless diamond ring of 19.86 carats by Cartier, which is estimated to sell for $2-3 million.
“In the world of fine jewelry, this is truly a fairytale collection,” said Rahul Kadakia, head of jewellery for Christie’s Americas. “Opening the vault to find this treasure trove of period jewels from the best French houses of the early 1900s has certainly been one of the most extraordinary moments of my 15-year career here at Christie’s. The iconic Art Deco design and exceptional craftsmanship of these meticulously preserved jewels are emblematic of the great Gilded Age in American history.”
The Lily Safra collection of 70 rare jewels, including important diamonds, rubies and sapphires, as well as an outstanding array of fine antique and period jewellery, is estimated to sell for more than $20 million.
The money raised by the auction by Christie’s in Geneva on May 14 will be donated to 20 different charitable organisations by the famous philanthropist.
Along with the jewellery collections, Sotheby’s in New York is auctioning paintings from the collection of American financier and philanthropist Theodore J. Forstmann (Padma Lakshmi’s late boyfriend).
He owned Pablo Picasso’s portrait of Dora Maar, titled Femme assise dans un fauteuil, which is estimated to sell for $20-30 million. Other important paintings in his collection, Chaïm Soutine’s Le chausseur de chez Maxim’s is estimated to sell for $10-15 million.
His collection, to be sold in a series of sales at Sotheby’s in New York through May, is estimated to raise in excess of $75 million.