Important Kashmir Unheated Sapphire and Diamond Ring Sells for $1.29M

An important Kashmir unheated sapphire and diamond ring (lot 275) more than quadrupled its presale estimate selling for $1.29 million, headlining Hindman’s Important Jewelry auction. The ring was the crown jewel of the exceptional collection of Marguerite Hark, of Chicago and Surfside, Florida and the top lot of the December 6 auction, which achieved a total sale price of $4.4 million.

The Best Shines Brightest

The sapphire ring managed to vault past already lofty expectations buoyed by substantial interest from all manner of bidder. Eleven phone bidders battled absentee, floor, and online bidders for the better part of five minutes. Bidding rose in steady $25,000 increments from a $300,000 opening absentee bid all the way to the final hammer of $1,025,000 with the lot selling to an online bidder on Hindman’s Digital Bid Room. The inclusion of the buyer’s premium resulted in the final sale price of $1,290,000.

The ring featured an unheated, Kashmir sapphire weighing approximately 8.90 carats, set in a Spaulding & Co. mounting.  “The combination of the size, deep blue color, and the fact that the sapphire was untreated, made it one of the rarest stones,” explained April Matteini, Hindman’s Associate Director of Jewelry. “It was an honor for all of us to work with such a true gem!”

Jewelry from an Adventurous Woman

The Collection of Marguerite Hark offered in Wednesday’s sale represented the pieces she collected throughout her world travels and that caught her eye in her beloved Chicago. Her exceptional eye for rarity and quality created a collection that proved irresistible to bidders. The ‘white glove’ collection saw all 75 lots sell and achieved a combined total of $2.4 million, more than triple its presale estimate.

Hark was a giving woman in every sense of the word. She was a patron of many organizations throughout Chicago and beyond. She supported cultural institutions, hospitals, social service organizations, and non-profits dedicated to the furry and feathered friends in the natural world which she so cherished. She was an active member of the Service Club of Chicago for 67 years, a proud member of the Chicago Symphony Orchestra Association, and a generous supporter of Rush University Medical Center where her late husband, Dr. William A. Hark, practiced orthopedic medicine.

Hark also had an extraordinary passion for life. Nothing put a smile on her face more than making new friends or sharing a meal with old ones in beautiful new locations. She loved travelling, going on thrilling adventures to exotic locations around the globe even into her eighties.

In addition to the sapphire and diamond ring, highlights from the Hark Collection included:

• Lot 250 | Spaulding-Gorham, Unheated Burmese Ruby and Diamond Ring
  Sold for $176,400
• Lot 249 | A Diamond Ring, Containing One Emerald Cut Diamond Weighing 6.33 Carats
  Sold for $163,800
• Lot 270 | A Diamond Ring Set, Consisting of a Ring Containing One Emerald Cut Diamond Weighing 6.52 Carats and a Baguette Cut Diamond Eternity Band
  Sold for $138,600
• Lot 276 | Oscar Heyman & Brothers, Multicolor Sapphire, Emerald and Diamond Parure
  Sold for $69,300

Incredible Collections from Across the Country

In addition to the Hark Collection, the auction featured a number of remarkable collections from across the country. Standout collections included the Estate of Dorothy M. Press of Chicago, which sold for a combined $424,620, and the Estate of Linda O'Neil Porteous of Thousand Oaks, California, which fetched $230,549.

Highlights from these incredible collections included:

• Lot 216 | An Important Diamond Ring, Containing One Emerald Cut Diamond Weighing 10.05 Carats
  Property from the Collection of a Lady, Atlanta, Georgia
  Sold for $201,600
• Lot 117 | Van Cleef & Arpels, Ruby and Diamond ‘Mystery Set’ Flower Brooch
  Property from the Estate of Dorothy M. Press, Chicago, Illinois
  Sold for $176,400
• Lot 236 | A Harry Winston Diamond Ring, Containing One Brilliant Cut Diamond Weighing 4.12 Carats
  Property from the Estate of Dorothy M. Press, Chicago, Illinois
  Sold for $157,500
• Lot 57 | A Diamond Necklace, Containing One Cushion Brilliant Cut Diamond Weighing 5.08 Carats
  Property from the Estate of Linda O'Neil Porteous, Thousand Oaks, California
  Sold for $69,300