A Pair of Pear-Shaped Colombian Emerald Ear Pendants of 10.26 and 9.01 Carats. Estimate: $300,000 – 500,000. Photo: Christie's Images Ltd 2012.

At its first jewelry auction since the record-breaking $137.2 million jewelry sale of The Collection of Elizabeth Taylor last December, Christie’s New York will present a blockbuster sale of exceptional jewelry on April 17 at its flagship Rockefeller Center saleroom. The auction features over 300 individual jewels, including top-quality diamonds, gemstones, natural pearls and signed jewels, with auction estimates ranging from $2,000 up to $8 million. The total sale is expected to achieve in excess of $40 million.

The sale is anchored by several important American collections, including jewelry from the Estate of Huguette M. Clark, one of the last great heiresses of America’s Gilded Age. Ms. Clark’s stunning personal jewelry collection, which is believed to have been stored in a bank vault since the 1940s, includes signed Art Deco jewels by Cartier, Dreicer & Co., and Tiffany & Co., including The Clark Pink, an extremely rare 9-carat pink diamond ring, and The Clark Diamond, a superb 20-carat D-color diamond ring. The complete collection of 17 jewels is expected to fetch up to $12 million.

The sale also features a magnificent selection of signed jewels from the Estate of Lucille E. Davison, a prominent collector, philanthropist and long-time trustee of Saint Anselm College in New Hampshire. Her jewelry collection includes over 40 exquisite signed jewels that represent the best in modern design, including an array of “mystery set” jewels by Van Cleef & Arpels, and a selection of bracelets and brooches conceived by the legendary designer Jean Schlumberger for Tiffany & Co. The total collection is estimated to realize up to $1 million.

The April sale also marks the start to another exciting season for the diamond market, with no less than 10 top-quality D-color diamonds included in the sale, and 15 more stones graded higher than top commercial white. The assortment is led by The Perfect Diamond, a stunning 44.09 carat D-color internally flawless diamond with a highly-desirable emerald cut (estimate upon request). Exhibiting excellent polish and symmetry with no fluorescence, The Perfect Diamond is certified by the GIA as a type IIa diamond, the most chemically pure classification prized for its exceptional optical clarity.

Rahul Kadakia, Head of Jewelry at Christie’s New York noted, “Christie’s record results of $600 million in jewelry sales worldwide last year were shaped by continuing demand for top colored and colorless diamonds with exceptional provenance, including the new auction record of $266,000 per carat for a colorless diamond, achieved last December in New York for the legendary Elizabeth Taylor Diamond of 33.19 carats. Investment-quality jewels of this caliber, whether collected purely for enjoyment or as a tangible alternative asset, continue to inspire great interest from new and established collectors worldwide. We look forward to starting the spring jewelry season with this magnificent selection of rare diamonds, gemstones and signed jewels, all of which have been curated with the interests of today’s savvy collector in mind.”