Eva Peron brooch sells for almost $1 million April 7, 1998 Web posted at: 1:39 p.m. EDT (1739 GMT) http://www.cnn.com/US/9804/07/evita.brooch/index.html
NEW YORK (CNN) -- A diamond and sapphire Argentine flag brooch that once belonged to Eva Peron was sold for $992,500 Monday to an anonymous American bidder. The price far exceeded the highest estimate of Christie's auction house. Evita, as she was known, was the wife of Juan Peron, who ruled Argentina from 1946 to 1955 and from 1973 to 1974. She loved to be photographed in the brooch, which was made for her by jewelers Van Cleef and Arpels in the early 1950s. She wore it for many public appearances from 1949 to 1951. Evita died of cancer in 1952 at age 33. The platinum-set brooch contains seven baguette-cut diamonds, and hundreds of square-cut deep blue sapphires and circular-cut diamonds, with yellow diamonds in the flag's central sun motif. Argentine bidder stops at $900,000 Among the bidders was Susana Gimenez, host of Argentina's most successful entertainment show "Susana Gimenez." She gave up on the brooch after the price hit $900,000. The final price, which includes the premium, fetched more than eight times its estimated value of $80,000 to $120,000. Christie's described the brooch as "a perfect example of the innovative art of the 'serti invisible,' or invisible setting technique, developed in the late 1930s." The technique sets each tiny stone against its neighbor without any visible mount, and is achieved by precision-cutting grooves into the sides of the gems and sliding them into a latticework of wire seen only from the back. The brooch was sold as part of Christie's Magnificent Jewels collection, which brought in almost $20 million on Monday. The auction was to continue on Tuesday with the highlight expected to be a collection of blue diamonds seized by the U.S. Customs Service in a 1995 drug bust.
					Official Christie's Site: Formally the Property of Eva Peron. An historic invisibly-set sapphire, intense yellow and near colorless diamond Argentine flag brooch. Signed by Van Cleef & Arpels.  Estimate: $80,000-120,000  Sold: $992,500
					This brooch of Argentina's flag was created by Van Cleef and Arpels in the 1940s. It was owned by Eva Peron, the wife of Argentinean leader Juan Peron, who ruled the country from 1946 to 1955. She wore the brooch at gala evenings, on official visits, and during public appearances. The brooch is platinum and has 7 baguette diamonds as a flagstaff, the top and the bottom of the flag are square cut sapphires, and the center is square cut pave diamonds. The sun is represented by yellow diamonds. Argentinean star Susana Gimenez flew in from Buenas Aires to bid on the piece. She was described as blonde, tanned, and scantily dressed in black. The rumor was she was bidding against Madonna on the telephone. The exciting bidding war rocketed the price from its $80,000-$120,000 estimate to a final sale price of $992,000. The new owner of the piece turned out to be a private American collector of historical objects.