Joseph DuMouchelle Achieves $1.8 Million in Its August Fine Jewels Auction
Estate jewelry auction house Joseph DuMouchelle showed no sign of a summer slowdown at its August 11th “Le Petite” Diamonds and Fine Jewels auction. The sale, which contained only 19 lots, grossed $1,819,812.50 and achieved a 90 percent sale rate. Eleven of the items surpassed their pre-sale estimates, including Lot 8, an Art Deco platinum, yellow gold and emerald lady’s ring with a 13.88-carat fancy vivid yellow diamond. Estimated at $400,000-600,000, the ring brought $1,062,500.
“August is normally a time when everyone — especially European buyers — are on vacation, but it didn’t seem to be the case for this sale,” says president and auctioneer Joseph DuMouchelle, who, with co-founder Lindy Adducci, previewed the auction at New York’s Lotte Palace Hotel August 9th and 10th. “Buyers don’t want to miss out on exceptional gems and jewelry, and they were willing to come back from holiday travel to preview and bid on these diamonds, colored stones and signed jewelry items. The fancy vivid yellow diamond was an especially rare stone and not one that collectors and connoisseurs of colored diamonds wanted to miss out on having the chance to own.”