The Archive · 1922

SALE OF $825,000 NECKLACE

Mystery Surrounding Rope of Pearls The purchase of a pearl necklace for at least $825,000 and which it was alleged brought more than $1,500,000, got into the courts recently when Cartier, Inc., the Fifth Avenue jewellers, were sued by V. and L. Benquiat, importers of antiques. They hold that the necklace was sold for $1,500,000, and that Cartier is withholding from them a large share of the: r rightful profits, a statement which the jewellery firm calls "'pre-pesterous.""

Back of the suit are the mysteries of who the purchaser was and the source of the jewels. They were fastened with an enamel clasp representing Catherine, Empress of) Russia, but it was denied by a representatives of the jewellery firm that the necklace had been a part of the Russian royal jewels. Vitall Benguiat refused last night to disclose how he. came into possession of the jewels, but said that when} he did speak it would be interesting.

The name of the purchaser was refused by Cartier, Inc., and also by Mr. Benguiat, at least, for the time being.

Benguiat was not told who bought the pearls—there were 359 in the string—but said that he learned Tater the purchaser's name, and also learned -that the necklace had not been sold for $825,000, but for a much higher price.

All that he' "would admit about the purchaser fast night was that this man was an American and not a New Yorker. Whoever bought the pearls was so interested in aequiring necklaces that at the same timo} he bought' another string for $100,000, the two necklaces being billed together and paid for with a single draft.

Snare Prorirs Anoye $500,000.

The story of the mysterious necklace and its sale in this coun-! try goes back to the Spring of 1920, when Cartier bought it from! Benguiat, who had brought it from abroad. He sold it to the Fifth Avenue concern for—$500,000, $300,000 being paid down, the re mainder to be paid when a purchaser was found. All that was received by Cartier above. the price of $500,000 was to be divided between the jewellery firm and the Benguiats equally. Up to that point there is agreement.

The sales agreement was made on May 14, 1920, and the necklace: was sold a: little more than a month later. It was paid for, according to documents contained in a statement issued by "Maurice Leon of the firm of Everts, Choate, Sherman & Leon, attorneys for Cartier,

Text read from the printed page and cleaned; old type leaves the occasional error.

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