Bidding frenzy expected at sale of world’s largest private jewellery collection

THERE were murmurings about one woman’s extensive and very valuable jewellery collection.

Everyone knew it was massive, with exemplary pieces from top names such as Bulgari, Cartier, Harry Winston, Tiffany and Van Cleef & Arpels, but no one knew just how enormous it was – until now.

Welcome to “The World of Heidi Horten”, the largest and most valuable private jewellery collection ever to come to auction, with a pre-sale estimate of more than US$150 million.

This far eclipses the previous record sales at Christie’s for (the more familiar) “The Elizabeth Taylor Collection” (US$116 million in 2011) and the “Maharajas & Mughal Magnificence” auction (US$109 million in 2019). These were the only two jewellery collections to date to achieve more than US$100 million.

Heidi Horten’s staggering collection of over 700 pieces is said to be “off the Richter scale”, and this is the first time the world has had a chance to see what she’d been squirrelling away for decades.

Who was Heidi Horten?

Born in 1941 in Vienna, Austria, Horten attended the Hospitality Management School of the Chamber of Commerce and Industry and worked as a secretary in a Viennese law firm.

She was exposed to beautiful things from young, thanks initially to her engraver father. But it was her first marriage to German businessman Helmut Horten – whom she met in a bar when she was 19 and he was 51 – that her eye for art and jewellery was refined.

After her husband’s death (she married twice more), Horten became passionately involved in and supported diverse interests including social welfare, sports, medical research and healthcare.

From the 1990s, she began building her private collection of modern and contemporary art. Over the decades, her collection grew to the hundreds and culminated in Horten creating a permanent home for them at The Heidi Horten Collection, a private museum in Vienna. The museum’s grand opening took place on Jun 2 last year, which she attended online. Just 10 days later, she died at 81 years old.

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How did she amass such a collection?

With the US$1 billion she inherited from her first husband when he died in 1987, Horten collected works from top artists including Pablo Picasso, Henri Matisse, Marc Chagall, Joan Miro, Jean-Michel Basquiat and Andy Warhol – and the best and most outstanding pieces of jewellery across historical eras, styles, makers and gems.

In 2018, a coveted pearl and diamond pendant that once belonged to French queen Marie Antoinette was sold after intense bidding at a Sotheby’s auction for a record-breaking US$36 million. The buyer? Horten.

It’s no wonder that Rahul Kadakia, Christie’s international head of jewellery, said “The World of Heidi Horten” is a collector’s dream.

“Building from extraordinary early pieces she acquired in the 1970s and 1980s, Mrs Horten continued to grow and curate her sophisticated collection, eloquently combining vintage and modern designs from the leading jewellery houses of the world that today represent some of the finest examples ever to come to market.”

According to Forbes, at the time of her death, Horten was Austria’s richest woman and the 1,040th-wealthiest person on earth, with a fortune of some US$2.9 billion.

There is, however, controversy about how her first husband, owner of the Horten AG department store chain, amassed his wealth.

A report on his business activities commissioned by Horten found that he did benefit financially from acquiring stores confiscated from Jewish owners during World War II. But – according to online accounts of the report, which is in German – he tried to proceed “according to standard mechanisms” when purchasing and behaved “comparatively fairly”.

What’s on sale?

One highlight is the stunning 90.38 carat Briolette of India diamond necklace by Harry Winston.

Horten is also reportedly one of the top five Bulgari collectors in the world, and Christie’s promises “the most exceptional curation of Bulgari jewels to have ever appeared at auction”, with the pieces tracing more than five decades of the luxury Italian jeweller’s masterpieces.

As part of the collection’s world tour, one of Bulgari’s spectacular pieces coming to Singapore is a diamond, sapphire and emerald necklace (estimate US$1.12 million to US$1.9 million). It features a 46.56 carat round brilliant-cut diamond at its centre, and is recognised for its geometric design, incorporating cabochon-cut sapphires and emeralds, as well as baguette-cut diamonds in a vibrant display.

Also arriving is a three-strand natural pearl necklace (estimate US$7 million to US$10 million) by Harry Winston, highlighted by a cushion-cut pink diamond clasp of 11.15 carats; and The Sunrise Ruby and Diamond Ring (estimate US$15.7 million to US$22.5 million) by Cartier with a 25.59 carat ruby in pigeon blood colour and of exceptional purity.

In addition, there will be an array of exceptional jade pieces, picked for their outstanding quality and historical significance.

“The exhibition aims to showcase some of the most outstanding jewels of the 20th century, highlighting the craftsmanship of renowned jewellery houses and the natural beauty of exceptional gemstones,” Max Fawcett, head of jewellery, Christie’s Geneva told The Business Times.

The collection is so large that it is being split into four sales, with the first 400 highest-value pieces to be sold via two live auctions on May 10 and 12, as well as an online auction from May 3 to 15.

The remaining jewels will be sold in a second online auction in November.

All proceeds from the sale will benefit The Heidi Horten Foundation, which supports the museum she founded, as well as medical research and other philanthropic activities.

“The World of Heidi Horten” preview in Singapore will be held at The Arts House, 1 Old Parliament Lane, Apr 29-30 from 11 am to 6 pm. Contact: enquirysg@christies.com or call 6735-1766.