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Wine Auctions Ripe for Buyers

wine bottles One client is putting up a third of the take at the Christie's wine auction this weekend. A total of 613 lots are available, with one party accounting for than 200 of them. This seller is described only as a "wealthy New York family" (duh). For collectors, according to the auction house's spin, this is a great time to buy. Prices are falling, which means that there are plenty of bargains out there.

Apparently, there's some wisdom to this perspective. At the Sotheby's auction last weekend, bidders dropped more than $2.9 million on vino, thrashing a pre-auction estimate of only $1.8 million to $2.6 million. New buyers are coming into the market. At the Sotheby's auction, more than 20 percent of the bidders were new. Two weeks before that, Hart Davis Hart, of Chicago, moved nearly $2.7 million of liquid bliss, beating its presale mark of $2.4 million.

In a Reuters interview, wine consultant Judy Beardsall likens wine collecting and investing to gardening, "At a time like this, it's a chance to turn over the soil in the garden, put down some stock for the next generation."

But, if you aren't interested in waiting, all the wines put up for auction are fit for consumption ... for a price.

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Christie's To Sell 'Eye of the Connoisseur' Jewels

by Rigel Celeste (RSS feed) —

Filed under: Jewelry, Auctions

This gorgeous pink diamond is just one of a massive collection of rare and valuable jewels called the "Eye of the Connoisseur" collection that is scheduled to go up for auction at Christie's on April 15th. Of the 115 pieces the most outstanding is this ring, featuring a 14.23 carat rectangular-cut fancy intense pink diamond set on a micro pavé-set pink diamond hoop set in 18k rose gold. Some are calling it the most important pink diamond ever to be offered up at auction. Its value is estimated at $10-$15 million.

Some of the jewels in the collection date back to the 17th century, and experts expect the auction to break more than a few records. See the whole collection here, or I picked out some of my favorites for the gallery below.

Gallery: Eye of the Connoisser Collection