The Hutton-Mdivani necklace. UPDATE: IT SOLD FOR $27.44 MILLION US
Sotheby’s reports a record year in 2013 with sales to date in 2014 significantly up on last year. Consolidated sales grew by 17% to $6.3 billion, the highest total in company history. Private sales grew by 30% to nearly $1.2 billion, the highest total Sotheby’s has ever recorded in this category, and profitablility increased by 20%.
At auctions the number of clients from Asia increased by 24%. In 2013 sales more than doubled in Chinese Contemporary Art, Indian & Southeast Asian Art, 20th Century Chinese Art and Jadeite Jewelry. The number of successful purchases through Sotheby’s BidNow programme grew by 36% last year.
All of which augurs well for the sale of the world’s greatest jadeite bead necklace which comes in Hong Kong on April 7. The Hutton-Mdivani necklace is estimated to sell for more than $12.8 million US.