Fine jewellery and watches will go under the hammer at the first Bonhams auction in the Middle East.

World renowned pieces by jewellers such as Cartier and watch makers such as Franck Muller and Breguet will be sold by the international fine art auction house established in the UK since 1793, Bonhams said in a statement.

Bonhams will hold a dedicated fine jewellery and watches auction on March 4, 2008, at the One & Only, Royal Mirage Hotel. This follows the art auction March 3, 2008, featuring some of the biggest names in modern Arab, Iranian and Indian art.

“The UAE is fast becoming a leader for fashion and jewellery on par with Paris, London and New York, and interest is high across the region for classic jewellery and watches,” said Bonhams’ European & Middle Eastern Chief Executive Matthew Girling.

“We expect timeless pieces, such as those we are presenting at our first Middle East auction, to have widespread appeal.  Our clients in the region expect the best of the best, whether that is in the cut, quality or design of a piece. We have sourced auction items from across the globe for their specific appeal to the market, for their rarity, value and beauty.”

A Colombian emerald and diamond ring - set with a 15 carat cabochon emerald, by Hatik - will be the piece de résistance of the evening’s auction. The ring is estimated at $480,000–$500,000, the auction house said.

A ruby and diamond suite - comprising of necklace, bracelet, ring and earrings - is expected to reach well over $500,000. For those looking for something a little more reasonable, a Cartier diamond flower brooch is available at $30,000–$35,000,it added.

A Hublot chronograph watch made of a rare 18 carat rose gold and ceramic with platinum and diamond set bezel is estimated at $20,000–$25,000. For Franck Muller followers, two unique watches are set to go under the hammer, the perfect his and hers gift with a combined value of over US$40,000.

There will also be bids for Rolex and Breguet time pieces, Bonhams said. – TradeArabia News Service