Single Strand at Christies (Highlight)

[Valeria101]

LINK to auction highlights page and to the auction catalong page.

Lot Number 0238 Sale Number 1890
MAGNIFICENT JEWELS, New York, Date Oct 16, 200

Lot Title: AN EXQUISITE PEARL AND DIAMOND NECKLACE, BY PAUL FLATO

Estimate 250,000 - 350,000 U.S. dollars

"Comprising eighty-five graduated pearls, measuring from approximately 4.18 to 9.88 mm, joined by a cushion-cut diamond clasp, weighing approximately 4.00 carats, mounted in platinum, 21? ins. By Paul Flato.

With report 16263210 dated 31 August 2007 from the Gemological Institute of America stating that the eighty-five pearls are natural.

With report 14153695 dated 26 January 2005 from the Gemological Institute of America stating that the diamond is D color, VS2 clarity."

 

[GemGeek]

Whatever it goes for, it's priceless as far as I am concerned. One of the things I'm looking forward to doing when I get further along in my studies, is volunteering for auction houses. (In Los Angeles in my case)

In the pre-auction showing, you get to handle the goods as you show them to prospective bidders. When I saw the necklace above, my first thought was, "I wish I could see it in person".

I hope to realize some of those dreams down the road.

Cheers,
Blaire

 

[Valeria101]

Whatever it goes for, it's priceless as far as I am concerned.

One more natural pearl thing going over the high estimate (at USD 373k, sans buyer's premium). The clasp would be about a quarter of that, methinks.

It looks like most natural pearls that did make the cut to these high flying auctions went overboard.

LINK to Lot Result

 

[knotty panda]

"AN EXQUISITE PEARL AND DIAMOND NECKLACE, BY PAUL FLATO"

Well, it's quite obvious they are selling the name and not the necklace. A better description would have been "Paul Flato Necklace -- oh yeah, we think these might be natural pearls." His stuff has been really hot of late. And not for any other reason than it's his. Remember Jackie O's faux pearl Kenneth J. Lane $200,000 necklace?

By the way, hasn't this Flato piece been on the market for a couple of years? Not with big name Christie's but if anyone can sell it, they can.

 

[Valeria101]

Well, it's quite obvious they are selling the name and not the necklace.

Not to me... What's your reasoning?

I always have trouble when it comes to figure out the 'brand value' to an already world class specimen. In my mind, Flato isn't Tiffany: not a publicly traded thing, not a brand in the modern 'price-makes-value' way. Just in my mind, that is. Hard to hear of the values these things change hands in less public transactions And that's why I am asking...

'Wonder if this isn't the first spike of natural pear availability and prices since the cultured glut began. At that price, I don't expect these things to fly off the shelves. If they can sell for these values, I can understand why the owners of the few such objects might not want to place them for more liquid, but lower prices. Not if given the choice. The numbers associated with these auctions and the items themselves are quite something anyway.

Thinking out loud here.

 

[Richard W. Wise]

Ana,

Flato would probably bring a small premium at auction. They are hardly selling the name here.

 

[knotty panda]

Mr. Wise: Thank you. I've been meaning to get back to this post. It seems I've been seeing Flato's name quite a bit recently. I hate to answer a question with a question, but Valeria asked why do I think his work is appreciating. I think it's because he recently died. He had an A-list clientele. Why do artists become famous after their death? Why is Marilyn Monroe's strand of Mikis in a museum when the identical strand assembled before and after hers is anonymous? Inquiring minds want to know.

 

[robinc]

Thanks so much for sharing this!

The thing is, with a graduated strand, you'd always want the clasp to be at the back, right? This is an *incredible* diamond (I love cushions shaped like this <sigh>), and it would hardly ever show. Seems like a waste. Also, I think the diamond competes with the pearls. Let each shine (or sparkle, as the case may be) on its own!

So, the pearls are amazing. The clasp is amazing. And, again JMO, but I'd have it reset and a different clasp put on .

--Robin

 

[Valeria101]

Well... half of the party sees the clasp with a hair-do like THIS.

What other clasp treatment could match the value of the pearls ? Or shouldn't it even... Never thought of these things.