Three Spectacular Historical Jewels Sold at Auction First Half of 2010

Despite the global recession, those with means and a passion for provenance pay high prices to acquire items with historical significance. For example, in 2009 the late Mahatma Gandhi's pocket watch sold for $2, 096,000.

This year is no exception. During the first half of 2010, three important historical jewels have already sold at premier auctions. They are as follows:

1. Emperor of Mexico Maximilian's 39.5 carat diamond sold at Christie's, New York on April 22, 2010 for $1,762,500 to an undisclosed buyer here in the U.S. (The pre-auction estimate was $1,000,000 to $1,500,000.)

Austrian Archduke Maximilian (1832-1867) became the reluctant emperor of Mexico in 1864 under the insistence of Napoleon III. Having little understanding of Mexico and its people, he proved to be an extremely unpopular ruler. In 1867, he was executed by firing squad. Legend has it that he had the diamond in a satchel around his neck when he died.

Imelda Marcos, notorious and extravagant wife of deceased Philippine dictator Ferdinand Marcos, was one of the owners of this notable cushion cut diamond. She purchased it in the 1980's and sold it in the 1990's to a U.S. jeweler.

2. Catherine the Great's diamond and emerald brooch sold at Christie's, New York on April 22, 2010 for $1,650,500 to an undisclosed buyer from the Middle East. (The pre-auction estimate was also $1,000,000 to $1,500,000.)

Catherine the Great (1729-1796) ruled Russia from 1762 until her death from a stroke in St. Petersburg. She was renowned for her scandalous love affairs and passion for excess in life's luxuries, especially jewelry. She inherited the brooch which had been a family heirloom for several previous generations. Perhaps it was this brooch that fueled her lifetime passion for extravagant jewels.

The brooch was purchased in the 1970's by a private U.S. collector whose estate authorized its April 22, 2010 sale.

3. Elizabeth Colt's diamond and emerald wedding suite sold at Skinner Auctioneers, Boston on March 16, 2010 for $201,450 the Boston Museum of Fine Arts. (The pre-auction estimate was $25,000-$30,000.)

Elizabeth Colt (1826-1905), from a prominent Rhode Island family, married Samuel Colt in 1856. Famous and successful revolver manufacturer 41-year old Samuel Colt presented his 25 year old bride with the jewelry suite. It consisted of a gorgeous diamond and emerald necklace and matching earrings, patterned with a star motif. (Did this motif underscore Colt's love of his country and the Union?)

Despite the age difference, Elizabeth and Samuel Colt developed a deep love for one another. Their enduring romance ensued until his untimely death in 1862 from stress and exhaustion. Elizabeth Colt became a great philanthropist following the loss of her husband and subsequent inheritance of his fortune.

Sources:

1. Christies.com

2. Skinnerinc.com

3. "Historic stones rule the day at Christie's," nationaljewelernetwork.com/njn/content_display/fashion/jewelry-.

4. "Historic million dollar jewels headline NY auction," reuters.com/article/idUSTRE63F57R20100416.

5. "Maximilian, 1832-67, emperor of Mexico," infoplease.com/ce6/people/A0832311.html.

6. "Catherine the Great's Pearls," articlesbase.com/health-articles/catherine-the-great039s-pearls-1885316.html.

7. "Colt: Legend & Legacy 5," simonpure.com/colt05.htm.