Property of a Noblewoman (29 page)

The bidding was taking more time than usual because there was so much competition in the room, so much interest, and so many buyers on the phones. By ten forty-five, there were five pieces left, the antique French diamond tiara and the four important rings from Cartier, which were the big events in the sale. The auctioneer began with the tiara, which sold to an antique dealer in Paris. The thirty-carat emerald ring was the first of the final group, and you could feel the electricity in the room. Without thinking about it, Valerie took Jane’s hand in her own and held tight. She was about to watch the last of her mother’s only possessions dispersed, but for a vast fortune she would one day leave to her son, as a final blessing from her mother.

The bidding started slow and high. The auctioneer opened at five hundred thousand dollars, and it was double that within minutes, and then double again, and then it moved up in hundred-thousand-dollar increments. The hammer came down at three million dollars, and there was a gasp in the room. It was the highest price obtained at Christie’s recently for an emerald of that size, but it was clearly worth it. It was purchased by a private buyer from Dubai, a handsome Arab man with three beautiful wives, and he was generous with them. One of them had fallen in love with the emerald ring.

The twenty-five-carat ruby ring was next, with its astounding deep color, and it sold very quickly to another private buyer for five million dollars. Phillip wasn’t surprised. The successful bidder was also well known to them though not one of his clients. The jewelers had stopped bidding on the final lots, because the privates were willing to go too high to make it worthwhile for them to resell. They were letting the important rings go, which were the cream of the sale.

The forty-carat emerald-cut white diamond ring looked spectacular on the video screen when the image came up. It was D color, the best and purest color there was, and internally flawless, which would drive the price up even further. The bidding was strong and moved in hundred-thousand-dollar increments rapidly to the price of nine million dollars, sat there for a minute as the auctioneer scoured the room and checked with the Christie’s representatives on the phones. Just as he was about to drop the hammer, it went to ten, with an eleven-million-dollar bid on the phone instantaneously, and a final bid brought it to twelve million dollars, and it stayed there. The hammer dropped, and there was a sigh in the room, as though relieved that it, was over. It had been Valerie’s favorite piece, along with the ruby ring, but it was out of the question that she would keep it, she had nowhere to wear it in the life she led. She preferred to invest the money for her son to inherit one day. And purchasers had to pay an additional twenty percent to the house for their commission for items under a million dollars and twelve percent if over a million, which added another one million four hundred forty-four thousand dollars to the final price, which actually brought the large white diamond to thirteen and a half million dollars, which was almost unthinkable.

The fifty-six-carat yellow diamond ring was the last piece. Valerie had a death grip on Jane’s hand by then, and didn’t even know it. The color was categorized as “fancy intense,” the designation for yellow diamonds, and it was internally flawless as well. It became a battle between two privates, and at the last second Laurence Graff, the legendary London jeweler, stepped in, and swept it up for fourteen million with a stony, deadpan expression that gave nothing away as to whether he thought he got it for a good price or not. But he was brilliant at purchasing the best stones in the world, and he clearly knew he could get more for it set in his own design and with his name attached. With the buyer’s commission added, he had paid well over fifteen million dollars, almost sixteen.

With the sale of the yellow diamond, the disposal of Marguerite’s jewels was over. They had brought a total of forty-one million dollars. Phillip had predicted they would bring between twenty and thirty, but Christie’s had handled the sale so elegantly that they had done even better than anticipated, particularly with the buyers’ commissions added. The house had done well, and so had Valerie, as the owner of her mother’s estate. They would have to pay the auction house the ten percent seller’s commission, which was four million, one hundred thousand dollars of the hammer prices, which meant they had gotten almost thirty-seven million dollars from the sale. She had to pay inheritance taxes on the estate now, which would be eighteen and a half million, which left her with eighteen million dollars to invest, which would benefit Phillip one day. But there was far more involved in this sale than money, although that was certainly a factor. The sale had been deeply emotional for her, and she was grateful to her mother for keeping what she had to the very end, even in hard times. She had given her daughter the security and comfort for her later years that Marguerite had never had herself, and had unknowingly included her grandson in the blessing.

The lots after Marguerite’s in the auction sold very quickly. The loose stones, all colored diamonds, went to Laurence Graff again. Two pink diamonds were noteworthy, and a pale blue one. And the two “important” diamond rings at the end of the sale went to private buyers for far less than Marguerite’s white and yellow diamonds, which had been the star items in the sale.

The sale ended twenty minutes after the last of Marguerite’s pieces sold. It was eleven-thirty, and the auction had gone on for four and a half very intense hours. Valerie stood up, looking as though she’d been dragged by a rope, and was exhausted. It had been incredibly stressful, but well worth it. She didn’t look unhappy about what they’d given up, but relieved over what they’d gained. It was an enormous windfall for her, and ultimately Phillip. She hugged him as soon as he left the bank of phones and joined them. Valerie had been talking to Jane, who was bowled over by what she’d seen, the beautiful pieces, the fascinating buyers, the excitement and tension in the room. It had been like an action-packed thriller all night.

“I felt like I was in a movie,” Valerie said in a shaken voice. It had been particularly hard for her, wondering what would happen. At one point she had fantasized that nothing would sell, which Phillip told her could never happen with items like these. But she had never fully understood their enormous value. It was almost impossible to conceive of for the average person. And it was all new to Jane too, who stood close to Valerie, feeling just as stunned, as Phillip hugged them both. Only the heads of Christie’s, the head of the jewelry department, and the court had known that he was indirectly one of the beneficiaries of the estate.

“We did great!” he said to his mother. “Better than the high estimates.” And the reserves they had put on them had never come into play. They had sailed right past them in each case. “Let’s go celebrate!” Phillip said to both women, although he was tired too. It had been a long night, and working on the phones with high bidders, he had to pay close attention that he didn’t miss their bids, misplace them, misinterpret what they’d said, or misunderstand them, despite sometimes heavy accents or poor English. The calls were recorded for review later, in case of a dispute, which sometimes happened. There were large amounts of money involved, and people didn’t take it lightly if they missed out on a piece they wanted due to the incompetence of the person bidding for them. Phillip had had his senses, especially his hearing, finely tuned all night. And he was pleased for his clients who had been successful, and above all for his mother. In a way this would be a form of closure for her, and she could move on, with all she knew of her mother now and how loved she had been. It changed everything for Valerie, even more than the sale.

Phillip suggested that they go to the Sherry Netherland for a drink, and he shepherded them out of the building, after he told his colleagues he was leaving. And as they followed him, Valerie looked like she was in shock, and Jane was dazed.

“I don’t know how you can say auctioning off jewelry is boring,” his mother said in the car. “I had my heart in my mouth all night. I think Winnie would have had a stroke and dropped dead.” They laughed at what she said.

“I have to admit, tonight was anything but boring, but this was a very special sale. The items were incredible, thanks to your mother. And it was meaningful for me because of you. But most auctions aren’t like this,” he said, smiling at her. “Tonight was incredibly exciting, but this kind of sale happens once in a blue moon, or once in a lifetime. Some of the big art sales are like this too. But I have to admit” – he smiled at her and then at Jane – “I really enjoyed this one. Who wouldn’t?” And the results had been better than even he had dreamed, especially for his mother, who was set till the end of her days, as was he now, if they invested the money well. She had wanted to call Winnie and tell her about it, but it had been too late by the time they were through. By then, Valerie knew, she was asleep.

They stayed at the bar at the Sherry Netherland until two o’clock in the morning, trying to wind down, and talking about every aspect of the auction. Valerie was still exhilarated when they dropped her off at her apartment, and Phillip and Jane went back to his. Valerie had the feeling they were together all the time now, and on his boat every weekend, although she didn’t ask.

Jane had another month of classes, and then graduation. She had invited Valerie to attend and said she wanted her to meet her parents. Valerie had promised to come, and was beginning to suspect it was serious between them, although they’d only been dating for two months. But she was exactly what Phillip needed, and his mother hoped he was smart enough to know it. Jane was good for him, and he seemed happy. But he was a grown man and had to do what he wanted, and suited him. And now Valerie was going to do the same. She had promised herself she would go to Europe for at least a month, or even two. She wanted to see where her mother had lived in Rome after Umberto died, before she came back to the States, and also visit the château in Naples where they had lived together. It was going to be a kind of pilgrimage for her, and she wanted to float around Florence, maybe Venice, or wherever the spirit moved her to go. She could do anything she wanted now. For the rest of her life. Thanks to Marguerite.

Valerie fell asleep that night, thinking about the auction. What a dazzling night it had been!

VALERIE SPENT THE
next few weeks planning her trip, and just trying to adjust to everything that had happened. Sometimes it was hard to believe it was real.

She went back to visit Fiona once, to thank her, and the old nanny seemed sleepy, and more tired than she’d been before, although she was just as clearheaded. Everything Fiona had told her in their previous visit had changed Valerie’s life forever. It was strange at her age, but Valerie felt more confident now, and no longer apologetic for how different she had been all her life from the people she was related to.

Angie and Tom had sent her an email, congratulating her on the successful sale. They had read about it, and thought the results were wonderful. They were happy for her, and were begging her to visit them again, and they were thinking of coming to New York for a long weekend in the fall. They said Walter was doing well, although little by little he was slowing down, and had had some minor health problems lately that he’d never had before. At ninety-four, it was to be expected, but at least he was happy, well cared for, and comfortable.

Jane finished her final paper, after giving up two weekends on the boat to do so. And as she’d promised her she would, in June Valerie attended Jane’s law school graduation and met her parents. They all had a lot to talk about. Jane’s parents were nice people and more sophisticated than Valerie had expected. They went to Chicago frequently to see every play, opera, symphony, and ballet that came through there, and went to Europe once or twice a year. Jane’s mother had been a psychologist before she married, and was still an avid skier, who skied the French Alps every year, and went helicopter skiing in Canada, which was arduous. She was a very attractive, still young woman with a lot of energy and many interests. Jane’s father was the CEO of a major insurance company and an intelligent, interesting, handsome man. They were crazy about Phillip when they met him, and enjoyed meeting Valerie. Jane’s mother confided to her how worried she was about Jane not wanting to settle down and, according to her mother, being too dedicated to her career. As an only child, they were more focused on her, which Valerie understood.

“It’s tough sitting on the sidelines once they grow up,” Vivian Willoughby said to Valerie. She was an attractive blonde, with a terrific figure, and looked a lot like her daughter. She was in her early fifties but seemed ten years younger than she was, and so did her husband, Hank. He was fit and athletic, and had the chiseled tanned face of a sailor from being on his boat every weekend in all weather. He was a very attractive man. And they all had a good time. Valerie had enjoyed meeting them.

Jane had graduated cum laude. She had three interviews with law firms that week. One of them, by sheer coincidence, was Penny’s firm. Phillip was very proud of Jane too, and had put a good word in for her with Penny, just in case it helped. She still had to take the bar exam in July, although Phillip was certain she would pass it. Jane wasn’t as sure.

“We wanted her to come back to Detroit,” Vivian confided to Valerie as they stood around after the graduation ceremony. Jane looked very official in her cap and gown. “Or at least Chicago, but she loves it here. And I guess if she gets a good job in New York, or if she and Phillip get serious, she’ll never come back.” She looked wistful but resigned about it. “It’s not easy having an only child. You put all your eggs in one basket.”

“I know. Phillip is an only child too.” Valerie smiled. “So is my niece. Her mother still worries about her too, and my niece is forty-five, happily married, has three kids, and is a partner in a law firm. They’re our kids forever, no matter how old they are.” Valerie was far more relaxed than Vivian, and very open-minded about whatever her son did. Jane’s mother was more intense, although Jane seemed normal and sane in spite of it.