MAGNIFICENT AND EXTREMELY RARE DIAMONDS TO BE OFFERED IN GENEVA ON 19 NOVEMBER, 2008

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Press release Geneva Frédéric Leyat +41 22 908 48 14 frederic.leyat@sothebys.com press.swiss@sothebys.com London Sarah Rustin +44 (0) 20 7293 6000 sarah.rustin@sothebys.

1 Press release Geneva Frédéric Leyat London Sarah Rustin +44 (0) MAGNIFICENT AND EXTREMELY RARE DIAMONDS TO BE OFFERED IN GENEVA ON 19 NOVEMBER, 2008 A FANCY DEEP BLUE DIAMOND, EST. CHF MILLION ($ 6-9 MILLION) THE FAMOUS LESOTHO I, EST. CHF MILLION ($ 3-5 MILLION) APPEARING AT AUCTION FOR THE FIRST TIME BEAU-RIVAGE HOTEL, GENEVA, WEDNESDAY 19 NOVEMBER, 2008 SOTHEBY S Geneva is pleased to announce its sale of Magnificent Jewels on Wednesday 19 November 2008 at the Beau-Rivage Hotel. An impressive array of extremely rare diamonds and magnificent jewels signed by the world s greatest jewellers will be offered for sale. Selected by Sotheby s international team of experts, the outstanding jewels will be of undoubted appeal to connoisseurs and collectors the world over. David Bennett, Sotheby s Chairman of Jewellery, Europe and the Middle East, comments, Following our highly successful auction of jewels in May, Sotheby s Geneva is delighted to be unveiling an exceptional selection of diamonds which will feature in our November sale. These include the famous Lesotho I, which weighs carats and was cut by the celebrated jewellery House Harry Winston from a spectacular 601-carat rough diamond. Discovered in Lesotho in the late 1960s, this is the first time the stone has appeared at auction since it was purchased from Harry Winston himself by the present owner.

The Lesotho I The Lesotho I, an emerald-cut diamond of 71.73 carats, was the largest to be cut from the Lesotho, a spectacular rough diamond of 601 carats in its entirety (pictured below).

CHF 3,360,000-5,600,000 / $ 3-5 million*; pictured left and on the first page). Another notable stone cut from the same rough was the Lesotho III, a marquise-shaped diamond of 40.

The ring was later sold by Sotheby s New York on 24 April, 1996, fetching $ 2,587,500 against an estimate of $ 500,000-600,000.

2 The Lesotho I The Lesotho I, an emerald-cut diamond of carats, was the largest to be cut from the Lesotho, a spectacular rough diamond of 601 carats in its entirety (pictured below). The Lesotho I has a provenance of great rarity for a diamond of this size and importance, having remained in the collection of the present owner since it was sold by Harry Winston himself (est. CHF 3,360,000-5,600,000 / $ 3-5 million*; pictured left and on the first page). Another notable stone cut from the same rough was the Lesotho III, a marquise-shaped diamond of carats which was given to Jacqueline Kennedy by Aristotle Onassis as an engagement gift. The ring was later sold by Sotheby s New York on 24 April, 1996, fetching $ 2,587,500 against an estimate of $ 500, ,000. It is shown on page 453 of the Estate of Jacqueline Kennedy Onassis catalogue. The Lesotho is the only gem of this importance to be discovered by a woman, Ernestine Ramaboa, the wife of miner Petrus Ramaboa (pictured right). Shortly after its discovery in 1967, the couple sold the stone to a South African dealer in Maseru, the capital of Lesotho, who in turn sold it to a dealer from Europe. Courtesy of De Beer s Courtesy of De Beer s The Lesotho, like many other famous rough diamonds, made its way into Harry Winston s hands. He invited the Ramaboas to New York to participate in a press conference where the stone was introduced to the American public. Winston also arranged for the stone to be exhibited at the Smithsonian Institution in Washington, D.C., and the Museum of Natural History in New York. After months of deliberation the rough was cleaved by Pastor Colon Jr., one of Winston s master cutters, eventually yielding 18 gems of various cuts and sizes, with a total weight of carats. The cleaving of this rough was so significant that it was broadcast live on television. 2

Scientifically speaking, the blue is due to the replacement of carbon atoms by boron in the crystal lattice of the stone, affecting its absorption of colour and creating its stunning shade.

3 A magnificent Fancy Deep Blue diamond Diamonds are found in a variety of colours, each shade determined by their atomic structure. The magnificent Fancy Deep Blue briolette diamond featured in the sale is an exquisite example. Scientifically speaking, the blue is due to the replacement of carbon atoms by boron in the crystal lattice of the stone, affecting its absorption of colour and creating its stunning shade. The availability on the market of this gem is exciting for various reasons. Not only is it very rare for a diamond of this deep blue colour weighing as much as carats to come up for auction, but also it has been graded Flawless, meaning that it is perfectly pure. In addition, it has been awarded the highestpossible grade by the Gemmological Institute of America ( excellent ) for its polish and symmetry. Estimated at CHF 6,720,000-10,000,000 ($ 6-9 million), this exquisite diamond is undoubtedly one of the star lots of the autumn sale. An extremely rare Fancy Red diamond If blue diamonds are seldom offered at auction, red diamonds are even more rare. This modified rectangular-cut Fancy Red stone should therefore be of strong appeal to discerning collectors of fine gemstones. In this instance, the red tone derives from features in the crystal lattice, together with small amounts of nitrogen. This stone is all the more remarkable given that red diamonds seldom exceed a single carat in size, while this one weighs 1.92 carats (est.: CHF 2,800,000-3,350,000 / $ million). A superb diamond from Golconda The auction also features a striking diamond ring by Jar set with a carat, type IIA diamond, D colour (the whitest possible). It is estimated at CHF 1,120,000-1,680,000 / $ million. Type IIA diamonds are chemically pure and therefore colourless. The best-known source for these unusual stones is the legendary Golconda deposits, mined since antiquity and named after a past kingdom which lies in modern-day Hyderabad, in the Indian state of Andhra Pradesh. These mines have produced some of the greatest diamonds in history, including the Koh-I-Noor, the Regent, the Great Mogul and the Hope Diamond. 3

An important diamond rivière, from the collection of Mary, Duchess of Roxburghe An important diamond rivière dating from the late 19 th century, from the collection of Mary, Duchess of Roxburghe,

The term rivière describes a necklace formed of a succession of diamonds individually set in a simple and elegant fashion.

jewellery design. Fancy Pink and colourless diamonds Also to be offered is a Fancy Pink pear-shaped diamond weighing 8.

4 An important diamond rivière, from the collection of Mary, Duchess of Roxburghe An important diamond rivière dating from the late 19 th century, from the collection of Mary, Duchess of Roxburghe, will be included in the November auction (est.: CHF 400, ,000 / $ 360, ,000). The term rivière describes a necklace formed of a succession of diamonds individually set in a simple and elegant fashion. It is likely that the simple structure of the rivière was used for necklaces prior to the 18th century, but it was only in the second half of that century that rivières came to the forefront of jewellery design. Fancy Pink and colourless diamonds Also to be offered is a Fancy Pink pear-shaped diamond weighing 8.02 carats flanked by similarly shaped stones and estimated at CHF 1,625,000-2,750,000 / $ 1,450,000-2,450,000 (pictured right), as well as a D colour, VVS1 clarity, type IIA diamond of carats mounted in a ring by Harry Winston, with an estimate of CHF 900,000-1,120,000 / $ 800,000-1,000,000. An important diamond necklace / brooch by Pierre Sterlé For lovers of fine design, the sale includes a superb lot signed by Pierre Sterlé ( ), one of the most admired jewellers of the 20 th century whose jewels are immediately identifiable by their distinctive style. His remarkable talent and audacious creativity were acknowledged three years in a row with the prestigious De Beers Diamond International Award. The spectacular diamond necklace offered at auction was a special commission by a European financial magnate as a gift to his daughter in The necklace contains nearly 160 carats of diamonds and is one of Sterlé s most famous creations. At the time Sterlé promoted it as the rarest colourless diamond necklace in the world, requiring more than six months spent travelling between Antwerp, Amsterdam, Tel Aviv and London to source the fine gemstones. Accompanied by a brooch of similar design which enables the three main elements of the necklace to be worn in a different fashion, it carries an estimate of CHF 1,120,000-2,200,000 / $ 1,000,000-2,000,000). 4

Superb natural pearl necklaces Two superb pearl necklaces will also feature in the sale.

The 41 pearls on this exquisite necklace range in size from 8mm to 14mm. The second necklace has nine rows of pearls measuring 3.4mm to 11.7mm held by a rectangular clasp set with diamonds.

An exquisite Kashmir sapphire and diamond demi-parure The sale also includes a demi-parure comprising a necklace and a pair of pendent earrings set with five tear drop Kashmir sapphires and diamonds.

5 Superb natural pearl necklaces Two superb pearl necklaces will also feature in the sale. The first, an extremely rare example, is made of natural pearls and has a clasp set with a circular-cut emerald surrounded by diamonds (est.: CHF million / $ 1,340,000-2,680,000; pictured left). The 41 pearls on this exquisite necklace range in size from 8mm to 14mm. The second necklace has nine rows of pearls measuring 3.4mm to 11.7mm held by a rectangular clasp set with diamonds. Each row detaches from the clasp to be worn on its own (est.: CHF 1,010,000-1,450,000 / $ 900,000-1,300,000; pictured right). An exquisite Kashmir sapphire and diamond demi-parure The sale also includes a demi-parure comprising a necklace and a pair of pendent earrings set with five tear drop Kashmir sapphires and diamonds. Kashmir sapphires are the most highly prized and sought after, as the mines in this region are now exhausted. This collection of very well matched Kashmir sapphire drops of fine quality is unprecedented at auction (est.: CHF 1,350,000-2,000,000 / $ 1,200,000-1,800,000). Auction: Geneva: Wednesday 19 November 2008 at 10.30am (session 1), 2.30pm (session 2) and 7.00pm (session 3) Pre-sale exhibition: Geneva: Saturday 15 to Tuesday 18 November, 2008, 10am to 6pm Wednesday 19 November, 2008, 10am to 4.00pm (selected lots) DIGITAL IMAGES ARE AVAILABLE BY ALL SOTHEBY S PRESS RELEASES ARE PUBLISHED ON * Pre-sale estimates do not include buyer s premium Note to editors regarding blue diamonds In May 2008, Sotheby s Geneva achieved a world record price per carat for any gemstone at auction, when a 3.73 carat Fancy Vivid Blue diamond fetched CHF 5,201,000 (CHF 1,328,444 per carat); prior to that Sotheby s in Hong Kong had set a per-carat world record price for any gemstone at auction when a 6.04 carat Fancy Vivid Blue diamond sold for HK$ 61,927,500 ($ 7,981,835; $ 1,321,495 per carat). 5

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