Bo Legendre Estate Sale Achieves Over $1.6M with 100% Sell-Through
Bidding Wars Erupt in a Packed Saleroom for Iconic Pieces from Suzanne Belperron, Verdura, Cartier, Van Cleef & Arpels and More—A Continuation of the Incredible Momentum of the Rapidly Growing Auction House
Fortuna’s auction of the jewelry collection of Bokara “Bo” Legendre achieved overwhelming success with a sale total of more than $1.6 million, and selling 100% of the lots—a remarkable feat rarely achieved at auction. On April 25, Fortuna hosted The Estate of Bo Legendre in their Fifth Avenue showroom, where a packed room of bidders watched as intense bidding wars erupted over nearly every lot.
Highlighting the sale were seven lots by Suzanne Belperron, which sold for a combined total of $541,250, 70% more than the combined pre-sale high estimate of $319,000. The most exciting was a citrine and diamond cuff attributed to Suzanne Belperron that achieved $150,000, against a pre-sale estimate of $30,000–$50,000. A rare carved blue “Cambodian” chalcedony cuff sold for $137,500, while a carved chalcedony leaf motif bombé diamond ring sold for $65,625, drastically exceeding the pre-sale high estimate of $15,000.
The sale was also led by an Art Deco emerald and diamond bracelet by Cartier, which sold for $237,500, against a pre-sale estimate of $100,000–$200,000. An Art Deco ruby and diamond necklace, also by Cartier, sold for $150,000, against a pre-sale estimate of $80,000-$120,000.
Adding to the sale’s success was the global participation, with registered bidders from 46 countries across six continents. “The success of this sale is a reflection of the passion and talent of our team, and our ability to reach the top collectors around the world—from Hong Kong and Dubai to France and Brazil,” said Fortuna Co-CEO and Head of Jewelry Seth Holehouse. “As the auctioneer, it was the most intense bidding atmosphere that I’ve ever experienced. It was phenomenal watching many of these pieces go for double, triple and even quadruple their initial estimates.”
The auction of The Estate of Bo Legendre is just one of three sales during the month of April for Fortuna, and builds upon the brand’s remarkable growth in 2017 when total annual revenue increased 194% from 2016. Fortuna is currently projecting a 168% increase in revenue in 2018, buoyed by a rise in brand awareness as the only no-risk fine jewelry auction house, coupled with aggressive global marketing efforts.
“We aren’t a 300-year-old auction house that sells everything from art to furniture. What we do is jewelry. We focus on it and we are obsessed with making sure that when jewelry is sold at Fortuna, it sells for the highest possible price,” said Fortuna Co-CEO John Saxon. “There is room in the marketplace for an auction house like Fortuna, and our exponential growth and success with every sale is an indicator of that.”
Coming Up on The Fortuna Calendar: June Important Watches & Fine Jewels
On June 28th, 2018 Fortuna will host two sales throughout the day. In the morning session, Fortuna is thrilled to offer its first IMPORTANT WATCHES sale. Featured will be a multitude of luxury timepieces from renowned watchmaking houses across the globe. Highlighting the collection is an authentic, fresh to market 1969 Rolex Paul Newman Daytona, Ref. 6239. In the afternoon, Fortuna will hold its FINE JEWELS sale, offering an eclectic selection of signed and period jewelry from various private collections.
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Note: Sale totals and prices listed reflect hammer price plus buyer’s premiums.