Sir Elton diamond brooch to be sold

7:55am Wednesday 24th September 2008

An art deco sapphire and diamond clip brooch once owned by pop rocker Sir Elton John is expected to fetch over £12,000 at auction this week.

The bejewelled brooch, which was created in about 1935, will be auctioned at Bonhams' Sale of Fine Jewellery in London's New Bond Street on Thursday.

It is designed in the form of the letter J and includes multiple old brilliant cut and baguette cut diamonds.

It also features five oval cut sapphires and a bombe cluster of circular-cut sapphires.

A photograph accompanying the brooch shows Sir Elton wearing it during the filming of the video for his 1988 song I Don't Wanna Go On With You Like That.

Other jewels in the sale include an emerald-cut diamond single stone ring by De Beers, weighing 11.05 carats. It is expected to fetch up to £320,000.

Jean Ghika, Bonhams' UK director of jewellery, said: "Diamonds have an enduring appeal. They provide timeless elegance in a fast moving fashion arena and in many instances maintain their worth.

"With the current economic uncertainty and the world gold price at a record high, many investors are turning away from stocks and shares to more tangible commodities such as high quality jewellery."

Natural pearls are also commanding high prices at auction, according to Bonhams, which will auction a rare natural pearl and diamond necklace worth between £50,000 and £60,000 on Thursday.