Austrian billionaire's jewels seen fetching over $150 million at auction

Record ID: 1723669

  • Title: Austrian billionaire's jewels seen fetching over $150 million at auction
  • Date: 8th May 2023
  • Summary: GENEVA, SWITZERLAND (MAY 8, 2023) (REUTERS) STAFF TAKING OUT 90-CARAT 'BRIOLETTE OF INDIA' DIAMOND NECKLACE VARIOUS OF DIAMOND NECKLACE (SOUNDBITE) (English) INTERNATIONAL HEAD OF JEWELLERY AT CHRISTIE’S RAHUL KADAKIA, SAYING: "There is, of course, the Sunrise Ruby. It's a 25-carat Burma ruby estimated at 15 to $20 million. There is the Briolette of India, 90 carat decol
  • Embargoed: 22nd May 2023 14:06
  • Keywords: Christie's auction jewelry
  • Location: GENEVA, SWITZERLAND
  • City: GENEVA, SWITZERLAND
  • Country: France
  • Topics: Arts/Culture/Entertainment,Europe
  • Reuters ID: LVA001082908052023RP1
  • Aspect Ratio: 16:9
  • Story Text: The 700-piece jewellery collection of the late Austrian billionaire Heidi Horten, the world's largest and most valuable collection of its kind to be auctioned, could sell for more than $150 million, Christie's said on Monday (May 8).
    Some of most spectacular pieces include the 90-carat "Briolette of India" diamond necklace by Harry Winston, and the "Sunrise Ruby" and diamond ring by Cartier that is worth up to $20 million.
    The collection, acquired between the early 1970s until Horten's death last, is also comprised of 100 Bulgari pieces - the most important collection from the brand seen by Christie's, according to the head of its jewellery department in Geneva.
    Horten's collection is set to exceed the record sales at Christie's for Elizabeth Taylor's collection in 2011 and the Maharajas & Mughal Magnificence auction in 2019, the only two jewellery collections to have garnered more than $100 million.
    Christie's said the estate proceeds of the auctions would go towards the Heidi Horten Foundation, which supports causes including health care.
    Before agreeing the auction the collection, Christie's said it had carefully considered the business practices of Mrs. Horten's late first husband, department store tycoon Helmut Horten, who during the Nazi era "purchased Jewish businesses that were sold under duress."
    Christie's said it would make a "significant contribution" from its final proceeds to Jewish organisations to advance Holocaust research and education. It would not disclose the amount.
    (Production: Denis Balibouse, Yiming Woo)
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