Sotheby s New York Sale of Magnificent Jewels To be held on December 9, 2008

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Press Release New York For Immediate Release New York 212 606 7176 Courtney King Courtney.King@Sothebys.

1 Press Release New York For Immediate Release New York Courtney King Sotheby s New York Sale of Magnificent Jewels To be held on December 9, 2008 Offering Precious Gems in a Spectrum of Color 60 th Anniversary Tribute to David Webb Property of a Lady, Kashmir Sapphire and Diamond Brooch, circa 1900, lot 434, est. $1.8/2.2 million New York, New York This December Sotheby s will hold its annual Jewelry Week in New York including the sale of Magnificent Jewels on December 9, 2008 and public lectures presented by leading experts from David Webb, The Calder Foundation and Sotheby s on December 6-7. Featuring spectacular diamonds and precious gemstones from Private Collections, the December auction encompasses a spectrum of color, offering the best of each, ranging from the whitest diamond to the purest blue Kashmir sapphire. Also bringing to the market an array of signed jewels and period designs, this sale will appeal to connoisseurs and collectors seeking unique jeweled works of art and precious gems of the highest caliber.

Lisa Hubbard, Chairman of Jewelry, North & South America comments: While we have seen markets changing around the world recently, there has also been consistent demand for unique jewels and gemstones

Our sale this December includes special pieces that should transcend market conditions, from one-of-a-kind designs by David Webb to the storied jewels once in the collections of American legends such

2 Lisa Hubbard, Chairman of Jewelry, North & South America comments: While we have seen markets changing around the world recently, there has also been consistent demand for unique jewels and gemstones of high quality. Our sale this December includes special pieces that should transcend market conditions, from one-of-a-kind designs by David Webb to the storied jewels once in the collections of American legends such as Babe Paley and Jay Gould, as well as European and Russian noble families. For those collectors who consider rare gemstones wearable assets, we have remarkable stones from private collections, each of which perfectly combines pure color, beautiful shape and significant size. It s a very interesting sale that presents enticing choices before the holiday season. One of the most exceptional stones on offer is the centerpiece of a Sapphire and Diamond Brooch, circa 1900, the Property of a Lady (lot 434, $1.8/2.2 million*, pictured on page 1). Set with a breathtaking Kashmir sapphire of carats, the jewel is completed with approximately carats of old-mine diamonds. It is notable that the sapphire is accompanied by a recent letter from the Gubelin Gem Lab stating that the stone possesses a saturated colour and a finely proportioned cut. In addition, this gemstone has been spared of thermal treatment. Such a combination of characteristics is rare in natural Kashmir sapphires of this size. Fancy Vivid Yellow Diamond Ring, carats, lot 419, est. $2/3 million The cover lot of the sale is a spectacular Fancy Vivid Yellow Diamond Ring set with an oval natural colored diamond weighing carats that is internally flawless. The Property of a Florida Collector, the fancy vivid yellow diamond is flanked by 2 shieldshaped diamonds weighing 3.48 and 3.25 carats, both D color, VS2 and VS1 clarity respectively (lot 419, est. $2/3 million). Also included in the sale is an important pear-shaped Fancy Intense Pink Diamond Ring of 6.32 carats, SI2 clarity that is from a Distinguished Private Collector (lot 408, est. $1.5/2 million). Fancy Intense Pink Diamond Ring, 6.32 carats, lot 408, est. $1.5/2 million 2

Diamond Ring, mounted by Boucheron, Paris, 15.37 carats, Lot 429, est. $1/1.

5 million). Possessing both charm and distinct character, the captivating pear-shaped diamond of 15.37 carats is D color, VS2 clarity and classified as type IIa, a Golconda type diamond.

3 Diamond Ring, mounted by Boucheron, Paris, carats, Lot 429, est. $1/1.5 million Complementing the magnificent colored diamonds and gemstones on offer will be highly important white diamonds including a Diamond Ring, mounted by Boucheron, Paris (lot 429, est. $1/1.5 million). Possessing both charm and distinct character, the captivating pear-shaped diamond of carats is D color, VS2 clarity and classified as type IIa, a Golconda type diamond. This stone was originally in the collection of Jay Gould, one of America s leading railroad developers, speculators and financiers in the 19 th century. From a California Estate is the elegant Diamond Ring, Harry Winston, set with a pear-shaped diamond weighing carats, graded G color, VS1 clarity (lot 420, est. $800,000/1.2 million). Property from a Distinguished Private Collector Sotheby s is privileged to once again offer several pieces from the Princely Collections of Thurn und Taxis, a memorable noble sale held in 1992 at Sotheby s Geneva. Amongst the highlights, the historic Pair of Cabochon Emerald and Diamond Pendant- Earrings, last quarter 19 th century, completed with diamond mounts of later date (lot 418, est. $800,000/1.2 million) that are comprised of superlative emeralds which once belonged to the Grand Duchess Vladimir whose husband was the son of Tsar Alexander II. Also from the Thurn und Taxis auction is the Emerald, Natural Pearl and Diamond Guluband, Rajasthan, 18 th /19 th century, completed by a gold chain by Van Cleef & Arpels (lot 417, est. $200/300,000). This nuptial necklace was originally purchased by Prince Johannes von Thurn und Taxis as a present for his wife Princess Gloria as a reminder of their visits to India. Pair of Cabochon Emerald and Diamond Pendant-Earrings, last quarter 19 th century, lot 418, est. $800/000/1.2 million Also offered by a Distinguished Private Collector is a wonderful array of decorative jewels by Van Cleef & Arpels, New York including a Coral and Diamond Ballerina Necklace and Matching Earclips (lot 393, 3

est. $60/80,000) and Yellow and White Diamond Flower Necklace (lot 395, $90/120,000) as well as jewels by Harry Winston, Cartier and Giované.

$60/ 80,000 David Webb This year marks the 60 th anniversary of prominent American jeweler David Webb and the Magnificent Jewels sale pays tribute to the celebrated firm in a dedicated section that

Speight including the delightful Carved Coral, Colored Stone and Diamond Elephant Bangle, David Webb (lot 305, $15/20,000) and the Green Enamel, Ruby and Diamond Frog Bangle, David Webb similar to

4 est. $60/80,000) and Yellow and White Diamond Flower Necklace (lot 395, $90/120,000) as well as jewels by Harry Winston, Cartier and Giované. Coral and Diamond Ballerina Necklace and Matching Earclips, Van Cleef & Arpels, New York, lot 393, est. $60/ 80,000 David Webb This year marks the 60 th anniversary of prominent American jeweler David Webb and the Magnificent Jewels sale pays tribute to the celebrated firm in a dedicated section that includes many of the bold, innovative designs for which Webb is best known. A menagerie of enchanting animal jewels star in Property from the Estate of June D. Speight including the delightful Carved Coral, Colored Stone and Diamond Elephant Bangle, David Webb (lot 305, $15/20,000) and the Green Enamel, Ruby and Diamond Frog Bangle, David Webb similar to the double frog bangle once in the collection of the Duchess of Windsor (lot 297, est. $20/30,000). Carved Coral, Colored Stone and Diamond Elephant Bangle, David Webb, lot 305, est. $15/20,000 The Webb offerings also include one-of-a-kind pieces such as the striking Diamond Tassel Necklace, David Webb, made in the 1960s (lot 316, est. $180/220,000) and from a Distinguished Private Collection, the Coral, Diamond and Emerald Brooch, David Webb, 1960s (lot 317, est. $40/50,000). Carved to depict a mythical animal, this rare S-shaped brooch was formerly in the collection of Gabriele Murdock sold by Sotheby s in Coral, Diamond and Emerald Brooch, David Webb, 1940s, lot 317, est. $40/50,000 4

Period and Signed Jewels As is the hallmark of all Sotheby s New York sales of Magnificent Jewels, the December auction features wonderful examples of signed and period jewels from Private

$300/400,000). Designed as the mythical phoenix bird rising from the ashes, the Diamond and Ruby Phoenix Brooch, Schlumberger, France, 1953 (lot 380, est.

Natural Pearl and Diamond Pendant, circa 1910, lot 432, est. $300/400,000 Gold and Diamond Serpent Necklace, mid-19 th century, lot 424, est.

5 Period and Signed Jewels As is the hallmark of all Sotheby s New York sales of Magnificent Jewels, the December auction features wonderful examples of signed and period jewels from Private Collections. Of particular interest to connoisseurs of natural pearls will be the rare and extremely lustrous Natural Pearl and Diamond Pendant, circa 1910, offered by a Noble Family (lot 432, est. $300/400,000). Designed as the mythical phoenix bird rising from the ashes, the Diamond and Ruby Phoenix Brooch, Schlumberger, France, 1953 (lot 380, est. $60/80,000), offered by the Menil Collection, Houston, Texas, has been exhibited in the Schlumberger retrospective exhibition held at the Musée des Arts Décoratifs, Palais du Louvre, Paris. Natural Pearl and Diamond Pendant, circa 1910, lot 432, est. $300/400,000 Gold and Diamond Serpent Necklace, mid-19 th century, lot 424, est. $150/200,000 One antique piece sure to garner significant interest is the Gold and Diamond Serpent Necklace, mid-19 th century (lot 424, est. $150/200,000), the Property of a Distinguished Private Collector, which is designed as a life-size articulated serpent decorated all over with diamond details. A special highlight of the many signed pieces in the December sale of Magnificent Jewels is an 18 Karat Gold, Diamond and Ruby Necklace/Clip Combination, Rene Boivin, circa 1960 (lot 425, $150 /200,000). This wonderful multi-purpose jewel comprised of three large quatrefoil gold links set with collet-set diamonds and small rubies, offered by an important private collector, was formerly from the Estate of Babe Paley, a woman whose iconic 20 th century style remains legendary to this day. 18 Karat Gold, Diamond and Ruby Necklace/Clip Combination, Rene Boivin, circa 1960, lot 425, est. $150/200,000 5

6 Highlights from the December sale of Magnificent Jewels will be on public view at Sotheby s Geneva November and Sotheby s London November. The exhibition in New York is open 4-9 December. The public lecture series topics this December 6-7 include David Webb s modern American jewels, the wearable sculpture of Alexander Calder and famous jewelry collections sold at Sotheby s. *Estimates do not include buyer s premium. # # # For more information, please call the Sotheby s Press Office

MAGNIFICENT JEWELS AT SOTHEBY S

Press Release New York For Immediate Release New York +1 212 606 7176 Lauren Gioia Lauren.Gioia@Sothebys.com Darrell Rocha Darrell.Rocha@Sothebys.com MAGNIFICENT JEWELS AT SOTHEBY S New York, 9 December