GENEVA (AP) — A large, drop-shaped natural pearl pendant sold for a hammer price of $32 million at an auction of jewelry that once belonged to French Queen Marie Antoinette, which Sotheby's is calling a record price for a pearl at auction.

The "Queen Marie Antoinette's Pearl," a diamond-and-pearl pendant, was among the highlight offerings on the block at the Sotheby's sale of jewelry from the Bourbon-Parma dynasty.

Like many of the 10 former Marie Antoinette pieces up for sale on Wednesday, the pendant obliterated the pre-auction — in its case, $1 million to $2 million.

The total tally was exp...