Day: 24 July 2023

With a seven-carat ruby ring from Guillemin & Soulaine fetching almost €3 million alone, jewellery was the biggest category at the Artcurial sales of Monaco Auction Week, but there were also many highlights from the worlds of horology and handbags.

The Hôtel Hermitage was the scene for the latest Artcurial-led Monaco Auction Week event held over four days from 16th to 19th July and featuring enigmatic jewellery pieces, collector watches, luxury handbags – including several coveted Kelly and Birkin bags from the French luxe fashion house Hermès – sculptures and interior design pieces. 

The series of auctions have been deemed a huge success. Skillfully guided by Stéphane Aubert, Geoffroy Ader and Francis Briest, Artcurial’s eight categories brought in an astounding €14.1 million, with many items far exceeding their estimated sale prices.  

STANDOUT SALE 

The jewellery department had stellar results, taking in nearly €7.5 million, which is a record for the division and was thanks mainly to the Guillemin & Soulaine Marguerite vivid red ruby ring. The seven-carat stone fetched over €2.9 million, making it the second most pricey ruby per carat to be sold in the world so far in 2023.  

 A 24.69-carat sapphire also did well, almost tripling its €50,000 estimate to reach €144,900.  

WATCHES HAD THEIR TIME IN THE SPOTLIGHT

The men’s watches auctions cleared €3.2 million, although sales were at the more modest end of the scale. For example, a Rolex Paul Newman Daytona topped out at €452,640, touching the lower end of its estimated sale price, but nevertheless achieved a solid price for the much-appreciated timepiece.

The women’s watch sales saw a Cartier watch estimated to sell for €8,000 to €12,000 top out at €31,488, helping the overall sales total for this division hit nearly €521,000.

HANDBAG HITS

A 2019 Limited Edition Hermès Kelly Retourné Himalaya 28 in matte white Nile crocodile skin was among the rare and extraordinary handbags to go under the gavel. It brought in €127,264. Meanwhile, a 2022 Limited Edition Kelly Doll Picto in mauve, chai, lime and nata Epsom calfskin brought in €47,232. The grand total for the luxury bag sales exceeded €733,000, the highest ever figure for the department.

Artcurial will return to the Principality in 2024 with a tribute to jewellery and watchmakers Piaget. The auction is already being promoted under the title Piaget: 150 Years.

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Featured photo source: Artcurial

It’s been just over two months since the Prince’s Government put Monaco on “alert level” water restrictions, and the population appears to have answered the call to save water. Restrictions, however, will continue.

On 12^th May 2023, Monaco was placed on the elevated “alert level” by Ministerial Order in an effort to relieve the drought situation in the Principality. By Monday 24^th July, the State released its first report, stating “the Government has noted the effectiveness of the measures taken and welcomes the commitment of users, clearly perceptible in the first comparative statements of the use of water resources.”

Compared to the same period last year, there has been an average drop in consumption of 6%, almost -10% in the week of 3^rd to 9^th July alone. More than 60,000 m3 of water has therefore been “saved” by the drought measures imposed this year.

“This drop is all the more notable given that before the launch of the alert level, weekly consumption in the first half of 2023 was, on average, 2% higher than in 2022,” revealed the government. “It is clear to see the real impact these new measures, even more noticeable when compared to the year 2019 before Covid, with a 13% drop observed over the period between 12^th May and 9^th July.”

According to the government, sporadic rains have not been sufficient enough to fill the Principality’s water tables, and the level of water resources remains strained, making it “essential to continue the collective effort to preserve water”.

The Prince’s Government asks that businesses and the population continue the trend and remain vigilant in complying with the alert level water restrictions.

There are four levels of alert: the first is vigilance, the second is alert, the third is heightened alert, and the fourth is crisis.

SEE ALSO:

Monaco to impose water restrictions from Saturday

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Photo by Monaco Life