Carol Giuliano natural pearl and diamond pendant, £12,000 at Noonans in November.

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The jewellery department at Noonans in Mayfair held four sales that totalled £2.58m in 2023.

Head of department Frances Noble said: “Our auctions continued to rise in profile, quality and value, illustrating a very buoyant market.

“As always, the market was very ‘quality led’, with buyers both trade and private seeking the rarest and finest quality pieces. With turbulent world political events, there is understandably a little apprehension looking forward. However, with bullion prices remaining strong and a general shortage of the finest goods coming onto the market, we are expecting 2024 will prove to be another strong year.”