Pair Of Natural Pearls Auctioned For A Record $3.3 Million - KALB-TV News Channel 5 & CBS 2

Pair Of Natural Pearls Auctioned For A Record $3.3 Million

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SOURCE Doyle New York

Price Achieved on April 28 at Doyle New York Surpassed Prior Record by $900,000

NEW YORK, April 29, 2014 /PRNewswire/ -- On April 28, 2014, Doyle New York auctioned a pair of rare natural pearls for $3,301,000 -- a world auction record for a pair of natural pearls. They were purchased by an anonymous telephone bidder.

Pair of Natural Pearls Auctioned for a Record $3.3 Million at Doyle New York on April 28. Image courtesy of Doyle New York.

The staggering price far surpassed the prior world record for a pair of natural pearls set last year. In May 2013, Sotheby's Geneva sold a pair of natural pearls from the collection of Gina Lollobrigida for $2.4 million. That pair broke the earlier record of $1.99 million set by Christie's New York at the sale of the collection of Elizabeth Taylor in December 2011.

The drop-shaped pearls sold at Doyle New York measured approximately 9/10 inch in height and 1/2 inch wide, and were warm gray in color. They were mounted with antique silver and diamond caps, which were set onto a circa 1920 platinum and diamond pendant.

The pearls were accompanied by a hand-written note referring to the pearls as having belonged to Empress Eugenie of France. In 1887, following the fall of Napoleon III and his wife, Empress Eugenie, an historic auction of the French Crown Jewels took place in the Louvre, lasting twelve days.

The pearls then descended in the family of two prominent industrialists of America's Gilded Age. They were first purchased by George Crocker (1856-1909), the son of Charles Crocker, who founded the Central Pacific Railroad in California and left a fortune estimated between $300-400 million.

The pearls were later owned by the descendants of Henry Huttleston Rogers (1840-1909) of Massachusetts, an American industrialist who made a fortune as a partner with John D. Rockefeller in Standard Oil and a founder of the Virginia Railroad.

The pearls were accompanied by a report from the Swiss Gemmological Institute SSEF stating that the pearls were natural saltwater pearls with no indications of artificial color modification. The Institute added a special statement describing the pearls in remarkably enthusiastic language, stating: "Assembling a matching pair of natural pearls of this size and quality is very rare and exceptional, and thus this pair of pearls can be considered a very exceptional treasure of nature."

Further information is available at www.DoyleNewYork.com

Doyle New York logo

Photo - http://photos.prnewswire.com/prnh/20140429/82036
Logo - http://photos.prnewswire.com/prnh/20140327/NY92349LOGO-b

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