Mired in Controversy, Austrian Heiress’s Jewellery Collection Becomes Most Expensive To Be Ever Sold at an Auction.

A private jewellery collection of late Austrian heiress Heidi Horten has realised over US $197 million at an auction in Geneva, surpassing the record set by actress Eiizabeth Taylor’s jewellery collection that sold for about US $115 million in 2011. The only other private jewellery collection to surpass the US $100 million mark at an auction, is the Maharajas & Mughal Magnificence jewellery collection that sold for over US $109 million in 2019.

Although mired in controversy for connection with the Nazi regime, the auction of Horten’s jewellery collection with over 700 pieces was carried out in a 2 part live and online sale by Christie’s auction house in the first half of May. Heidi Hoten inherited a large inheritance from her husband, Helmut Horten after he died in 1987.

The business practices of Helmut Horten, who purchased Jewish businesses sold under duress during the Nazi era, are well documented, according to Christies. A Jewish human rights group also demanded for the auction to be withdrawn but according to an AP report quoting Max Fawcett, head of the jewellery department at Christie’s Geneva, the auction house decided to auction this collection with the understanding that 100% of the final sale proceeds will go to philanthropic causes. The auction’s proceeds are to be donated to a foundation that supports causes including medical research, children’s welfare and to support Heidi Horten’s art collection. Christies also stated that all jewels in these sales were acquired by the late Heidi Horten between the beginning of the 1970s and 2022 from prestigious houses such as Bulgari, Cartier, Tiffany, Harry Winston and Van Cleef & Arpels.

A key highlight of her collection was the Briolette of India diamond necklace with a 90.38 carats D colour, South African diamond as the centrepiece. Rahul Kadakia, International Head of Jewels at Chrisites revealed that this large diamond dates back to the 12th century and was cut in briolette style only in the early 20th century by a french diamond cutter. “The massive diamond acquired the name ‘Briolette of India’, when it was sold to an Indian Maharaja in 1947 by Harry Winston”, he says adding that after the death of the Maharaja, Winston repurchased the precious stone in 1956, remounted it on a V-shaped necklace with 157 marquise diamonds. Bought by Heidi Horten in 1971, the Briolette of India diamond necklace has now sold for about CHF 6.3 million, realising a price much below its estimate of CHF 9 -14 million!

Another notable Indian jewel auctioned from Horten’s collection is ‘The Great Mogul’ Harry Winston emerald and diamond pendant necklace. At the centre of the necklace is an emerald, weighing a phenomenal 362.45 carats from the 19th century. The emerald  is carved with a scene depicted from the Ramayana. It fetched CHF 882,000, a price much higher than its estimated value of CHF 450,000 – CHF 640,000. “Heidi had a discerning eye and curated a sophisticated collection featuring some of the finest jewels ever to come to market,” says Fawcett.

Heidi’s collection of Bulgari jewellery is ranked among the top 5 Bulgari collections in the world, according to Fawcett, “The pieces she collected in the 1970s, 1980s and 1990s are typical of Bulgari’s style of the period,” he observes. A highlight from her Bulgari collection was the sapphire and emerald necklace with an old European 46.56 carats brilliant-cut diamond. It sold well within its estimate of CHF 1.1-1.6 million at CHF 1.4 million.

The Sunrise Ruby ring which flaunts the 25.59–carat Pigeon blood red Burmese ruby also sold lower than its estimate of CHF 14 to 18 million, at about CHF 13 Million. In 2015, this ruby (along with the ring) became the most expensive ruby at an auction when it sold for over CHF 28.2 million.