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Monday, April 18, 2016

Statement Colored Gems Up For Auction This Week In New York

The 9.54-carat Shirley Temple Blue Diamond

Following the $32 million sale of the De Beers Millennium Blue at Sotheby’s Hong Kong in April, blue diamonds continue to be in high demand at international auction houses around the world. However, blue isn’t alone as statement pink and yellow diamonds as well as sapphires and rubies are commanding lofty prices. 

The upcoming auctions in New York this week by Sotheby’s, Christie’s and Bonhams will be presenting plenty of colorful stones to meet this demand. 

The most anticipated lot is the 9.54-carat Shirley Temple Blue Diamond that will be placed on the block Tuesday at Sotheby’s Magnificent Jewels sale. The Fancy Deep Blue, Potentially Internally Flawless, VVS2 clarity diamond ring was owned by the child actress and American diplomat throughout her life. It has an estimate of $25 - $35 million. Her father purchased the ring in early 1940 around the time of her 12th birthday for $7,210.

The auction of more than 300 pieces also has other colorful delights, including a platinum ring set with a 12.45-carat cushion modified brilliant-cut Fancy Purplish Pink diamond with Natural Color, VS2 clarity, with an estimate of $3 - $5 million; and a 30.81-carat pear-shaped Fancy Vivid Yellow diamond with Natural Color and VS2 clarity with an of $1 - $1.5 million.

The 15.99-carat Jubilee Ruby

Meanwhile, Christie’s Magnificent Jewels sale Wednesday will feature the Jubilee Ruby, a 15.99-carat oval-shaped Burmese ruby set on a platinum and 18k gold ring designed by Verdura. The gem is surrounded by circular-cut diamonds. Its estimate is $12 - $15 million.

“Top quality Burmese rubies of over 15 carats are an absolute rarity in the world of colored gemstones,” said Rahul Kadakia, Christie’s International head of Jewelry. 

Other statement colored gems among the more than 250 lots on sale include a 10.07-carat Fancy Intense Purple-Pink diamond ring with an estimate of $8 - $12 million; and a 54.62-carat rectangular modified cut Fancy Vivid yellow diamond with an estimate of $1.5 - $2.5 million. 

The three days of auctions begins Monday (today) at Bonhams New York with a sale of more than 100 lots of jewels including three Kashmir sapphires and other examples of Burmese and Ceylon sapphires.

8.07-carat Kashmir sapphire and diamond ring 

The top lot is an 8.07-carat Kashmir sapphire and diamond ring with an estimate of $400,000 – 600,000. It is believed that Bernard Golson (1879-1983), who often worked for foreign governments on special projects, bought the sapphire ring for his wife in the early 1920’s. Golson is known to have worked with the Guggenheims and aided U.S. authorities in the pursuit of Pancho Villa. This lead to his family being chased out of Mexico by Villa, losing their belongings and having to sew family heirlooms into their clothes during their escape to the United States. 

I plan to be covering the late sessions of the Sotheby's and Christie's auctions on Twitter @JewelryNewsNet

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