
It was an exciting day today for Christie’s auction bidders. The leading jewel in jewelry collection -a square 32.01-carat emerald-cut diamond ring valued between $3-5 million, was sold for record $7.7 million to an anonymous bidder. The stunning ring features D color, flawless diamond of 32.01carats flanked by two pear-shaped diamonds weighing 1.50 and 1.61 carats. The ring which belonged to Leonore Annenberg was designed by renowned Manhattan jeweler David Webb. The billionaire bought it for her 90th birthday. It was delivered by armed guards to her California home from the Beverly Hills jeweler's store. She was thrilled whenever someone came by to admire it, the auction house said.
Leonore “Lee” Annenberg and her husband Walter were passionate art collectors and philanthropist who entrusted billions of dollars to institutions devoted to education and the arts. Mrs. Annenberg was the former U.S. chief of protocol during the Reagan administration, and served as chairwoman and president of the Annenberg Foundation. Over the years, the Annenberg Foundation has donated an estimated $4.2 billion to cultural, educational, and medical institutions. During their marriage, Ambassador Annenberg established the Annenberg Schools of Communication at the University of Pennsylvania and the University of Southern California, and gave generously to a number of schools, libraries, theaters, hospitals, and museums across the United States. In 1993, the Foundation donated $500 million to public education through the Annenberg Challenge for School Reform, one of the largest gifts in philanthropic history. In 2002, upon the death of Ambassador Annenberg, the couple’s collection of French Impressionist art – valued at approximately $1 billion – was donated to the Metropolitan Museum of Art in New York, where both Mr. and Mrs. Annenberg served as trustees.
Beyond their remarkable generosity, the Annenbergs were well-known in social circles for their refined lifestyle and social prominence. Among the many illustrious friends and guests they entertained were former President Jimmy Carter and First Lady Rosalynn Carter, the late President Reagan and First Lady Nancy Reagan, former President George H. W. Bush and First Lady Barbara Bush, former President Bill Clinton and U.S. Secretary of State Hillary Clinton, Queen Elizabeth, Prince Charles, Prime Minister Margaret Thatcher, and entertainers Frank Sinatra, Bob Hope, and Bing Crosby.
Source: Christie’s Press Release