By Erika W.
"Jewels for Hope," the collection of Mrs. Lily Safra fetched $37.9 million and set two auction records at Christie's Geneva on May 14. The renowned collection exceeded its pre-sale estimate of approximately $20 million with 100 percent sold by lot and by value. The evening's top lot was a 32.08 carat Burmese ruby and diamond ring by Chaumet, which sold for $6.7 million, a new world record price for any ruby sold at auction. A group of 18 jewels by JAR sold for $11.4 million, setting a record as the most valuable single-owner collection of JAR's work sold at auction.
