PHILADELPHIA, PENN. —  When the hammer fell on the last lot in Freeman’s November 2 jewelry auction, the final price set a new company record: the rare Belle Époque fancy vivid yellow diamond pendant by J.E. Caldwell and Co. soared past its $250/350,000 presale estimate, selling for $760,000, including premium, and becoming the most expensive piece of jewelry Freeman’s has sold in recent history.

The 10.59 carat, cushion-cut diamond hailed from a private collection and attracted rare diamond collectors and connoisseurs from around the world. Fifteen phone bidders actively sought the sale of the diamond.

“These results provided solid confirmation of how strong the market is for rare gems,” department head Virginia Salem said. “We saw unwavering participation from bidders around the globe. The vigorous bidding for the fancy vivid yellow cushion-cut diamond was a testimony to the high quality and strong provenance of the piece, as well as to Freeman’s ability to successfully target and attract the market.”

The exciting sale of the yellow diamond provided a dramatic ending to an auction totaling more than $2.3 million and brimming with spirited bidding and strong results. Diamonds performed well throughout the sale, beginning with an Edwardian diamond and platinum lavalier by Bailey, Banks &

Biddle, that hammered above its high estimate, realizing $18,750. A host of subsequent diamonds followed suit exceeding their estimates, including an unmounted fancy yellow diamond, which sold for $131,250 and an Art Deco diamond and platinum bracelet that achieved $28,750.

A complete report on the sale will follow.