Sales up 35% in Saffronart's Spring Online Auction of Fine Jewels 2010

• Saffronart’s Spring Online Auction 2010 marks a step forward in the evolution of the jewelry market in India
• The auction witnessed a demand for a broad array of jewels including a selection of traditional and contemporary Indian pieces, suites set with important gemstones, impressive natural pearl necklaces, men’s accessories and delicate jeweled objects
• The sale highlights Saffronart’s endeavours in making jewelry accessible to connoisseurs and collectors around the world

Saffronart, the world’s largest online fine art auction house, has made an indelible mark as a premium platform for jewelry sales in India and internationally with the conclusion of its fourth online auction of jewelry. The Spring Online Auction of Fine Jewels 2010 offered collectors an extensive range of lots including traditional and contemporary Indian jewelry and gemstone studded suites with men’s accessories proving very popular.

The Spring Online Auction of Fine Jewels saw active participation from bidders across the world. In keeping with the growing demand among collectors for signed pieces from international jewelry houses, Saffronart also offered a selection of pieces from Cartier, Chopard, Boucheron, Van Cleef & Arpels and Tiffany & Co. among others.

After two days of bidding, the top lots sold were a Magnificent Five-Strand Natural Pearl Necklace for Rs. 43.82 lakhs (USD 99,590); a Stunning Pair of Ruby and Diamond Ear Clips for Rs. 17.25 lakhs (USD 39,205); an Important Diamond and Coloured Diamond Necklace for Rs. 15.24 lakhs (USD 34,631); a Pair of Diamond Ear Studs for Rs. 10.01 lakhs (USD 22,770) and an Emerald and Diamond Necklace for Rs 7.13 lakhs (USD 16,205).

Minal Vazirani, President and Co-founder of Saffronart said, “The results of our Spring Online Auction of Fine Jewels mirrors a growing appreciation among collectors for jewelry as an art form in itself, and an increasingly discerning base of buyers who are confident about bidding for jewelry at auctions. Creating transparency through published prices, and providing unprecedented access to fine pieces of jewelry, this auction drew a strong response, for the top lot, a magnificent five-strand natural pearl necklace, as well as other lots including men’s accessories, gemstones of outstanding quality, and jewels from leading international design houses.”

Saffronart is the only auction house dealing in fine jewelry in India. Ever since its inaugural auction of Fine Jewels and Watches in October 2008, Saffronart has set several milestones in the jewelry auction market. With four successful jewelry auctions conducted so far, Saffronart has firmly established itself as a pre-eminent platform for unique and collectible jewelry. Adding a new dimension to its online presence, Saffronart also offers collectors across the globe unmatched physical access to art and jewelry through private sales and viewings at its gallery spaces in Mumbai, New York and London, affording them a new, transparent, secure and user-friendly platform to transact on jewelry.

The Saffronart platform showcases the best of Indian & international pieces and designers, reaching out to jewelry owners and buyers across the world, as well as the global jewelry trade. As clients' needs and collecting tastes evolve, Saffronart continues to demonstrate innovation and complete transparency, with published prices, certificates for individual stones, multiple images of pieces, histories and backgrounds of jewels, designers, and information on traditional techniques such as kundan setting and minakari.

The Spring Online Auction of Fine Jewels 2010 was accompanied by an illustrated catalogue and exclusive private viewings and previews in New Delhi, Mumbai and New York.