Ear pendants fetch Rs 85 lakh in online auction

A pair of ear pendants topped the sales at a recent jewellery and watch auction.

A pair of ear pendants topped the sales at a recent jewellery and watch auction. Crafted with Colombian emeralds and diamonds, the pair fetched a whopping Rs 85.10 lakhs in the online auction, which was conducted simultaneously in Mumbai, New York and Hong Kong. The auctioneers, however, are not surprised.

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“The ear pendants went at a price that we were expecting,” says Minal Vazirani, co-founder and President of Saffronart, the company that has been hosting auctions for high-end jewellery and watches since 2008.

Prior to the auction, previews were held in all 3 cities for prospective buyers, who wanted to inspect the pieces closely and try them on. In order to help buyers make an informed purchase, Saffronart provided extensive catalogues and held private viewings. “The head of the Gemological Institute of America also hosted a talk in Mumbai,” says Vazirani, adding, “this way, buyers know about the rarity of the emeralds on offer.”

The Saffronart auction, an annual fair, had several unique pieces of jewellery and watches on offer. “We try to use pieces that have some element of uniqueness. Some of them are there simply because they are inspired by India or are beautifully crafted,” says Vazirani, confirming that the next auction is slated for summer 2010.

Among the items on offer were exclusive jewels by Cartier, Fred Leighton, Chopard, Boucheron and Van Cleef and Arpels. Watches by Audemars Piguet and Patek Philippe, too, were among the top sellers.