Sotheby's jewellery sale in Milan on 28 October made 6.9 million euros (7.7 million dollars) across more than 280 lots, led by a 9.09-carat diamond ring that more than doubled its high estimate. The brilliant-cut diamond ring sold for 307,200 euros (341,910 dollars) against an estimate that topped out at 150,000 euros, setting the pace for an evening in which several pieces sold for several times their expected prices.

The second-highest lot was a ring centred on a cushion-shaped 6.40-carat Kashmir sapphire in a diamond surround, which made 281,600 euros against an estimate of 60,000 to 100,000 euros. A Cartier necklace with an emerald cabochon at its centre and graduated marching elephants, each with a circular-cut emerald eye, sold for 256,000 euros, more than four times its 60,000-euro high estimate. A sapphire and diamond necklace from 1965, designed as intertwined ribbons and set with about 35 carats of oval violetish-blue sapphires and 55 carats of brilliant-cut diamonds, made 217,600 euros, as did a pair of earrings claw-set with brilliant-cut diamonds of 5.51 and 5.78 carats.

Pieces from well-known houses including Bulgari, Cartier and Buccellati found buyers across the sale, and the auction house reported that a number of jewels made several times their high estimates. The Milan result adds to a busy autumn for Sotheby's in Europe, days after its Paris sales took 137.7 million euros across three auctions. Jewellery has been one of the steadier categories of the season, with signed pieces and rare stones drawing competitive bidding even as buyers grow more selective elsewhere.