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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Kashmir Sapphire Sets Auction Record, Royal Necklace Fetches $4.5M

25.87-carat Kashmir sugarloaf cabochon sapphire

A 25.87-carat sugarloaf cabochon sapphire with Kashmir origins sold for $5.1 million at Sotheby’s Magnificent Jewels sale in New York. The gem set an auction record for a price per carat of a sugarloaf cabochon Kashmir sapphire at $197,990 per carat.

The gem, housed in a platinum and diamond ring, is owned by the family of Thomas Fortune Ryan (1851-1928), an American tobacco, insurance and transportation magnate. It surpassed its high estimate of $4.5 million and was the top lot of the auction held Wednesday.

The second highest lot of the evening sale was an historically significant platinum and diamond necklace owned by Egypt’s royal family (pictured above). Van Cleef & Arpels created the jewel with 217 carats of diamonds in 1939.

The necklace sold for nearly $4.3 million, within its estimate.

Queen Nazli (1894-1978), mother of Egypt’s King Farouk commissioned the diamond necklace and a matching tiara for the wedding ceremony of her daughter, Princess Fawzia, to the Crown Prince of Iran, Mohammad Reza Pahlavi, in 1939, Sotheby’s said. A large part of Nazli’s jewelry collection, including her Van Cleef & Arpels diamond necklace and tiara, was sold by Sotheby Parke Bernet in New York in November 1975. The necklace remained in a private collection for 40 years and was sold for the benefit of a charitable foundation.

The other big sale for the evening was a platinum and diamond ring set with a 38.27-carat square emerald-cut diamond with D color and VVS2 (pictured above). It sold for just over $4 million, within its estimate.

The three top lots were among eight that fetched at least $1 million. Sotheby’s auction of 503 lots was the final jewelry sale of 2015 by the auction house for 2015. It achieved a total of $52.3 million total, 74.2 percent were sold by lot and 74.4 percent by value. This raised the company’s annual worldwide sales of jewelry to $571 million. Other jewels of note include:

* A 26.44-carat emerald-cut diamond of D color and VS2 clarity sold for just over $2 million, or $77,534 per carat.

* A fancy colored diamond and diamond brooch by Bulgari, 1964, with a 2.47-carat round-cornered square modified brilliant-cut Fancy Intense blue diamond of VS2 clarity, sold for more than $1.7 million, well above its high estimate of $700,000.

* A natural pearl and a 30.83-carat Colombian emerald and diamond pendant sold for nearly $1.3 million, well above its $1 million high estimate.

* An 11.51-carat emerald-cut diamond ring of D color and VS1 clarity sold for nearly $1.1 million, above its $700,000 high estimate ($94,700 per carat).

* A 15.04-carat cushion-cut diamond ring, of D color, VS2 clarity sold for $1 million, beating its high estimate of $900,000 ($66,489 per carat). 

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7.8-Carat Tiffany Kashmir Sapphire Fetches $1.35M At Bonhams

A sapphire and diamond ring set a world auction record for a Kashmir sapphire under 10 carats, fetching $1.35 million at Bonhams New York’s Fine Jewelry auction Tuesday.

The turn-of-the-century Tiffany & Co. ring is centered by an oval-cut sapphire the auction house describes as “rare quality” and a “deep and rich blue.” It’s flanked by European-cut diamonds weighing 7.84 carats. It sold for $172,000 per carat.

“On the heels of three world-records at our recent Bonhams London jewelry sale, Bonhams New York sets another world-record in price per carat for a Kashmir sapphire under 10 carat,” said Daniel Struyf, senior director of International Jewelry. “It’s been a successful week for Bonhams’ international jewelry department and a sign that colored gemstones are on the rise.”

Sapphires of Kashmir and Ceylon origin were quite popular at the sale, which represents the final jewelry auction for the fall season and for the year at Bonhams. Other top lots include:

* Sapphire and diamond ring: centered by a 29.74-carat cushion-shaped sapphire of Ceylon origin (pictured above), sold for $269,000.

* Sapphire and diamond ring: centered by an oval-cut sapphire of 5.23 carats of Kashmir origin (pictured above), sold for $269,000 

* A sapphire and diamond ring centered by a 24.16-carat sapphire of Ceylon origin, sold for $125,000. 

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21-Carat Kashmir Sapphire Fetches $4.2 Million, Shatters Estimates

Rare colored gems continue to show their strength in the auction market as a 21.71-carat Kashmir sapphire easily topped the results at Christie’s New York Important Jewels sale, Tuesday.

Called “The Kelly Sapphire” prior to the auction, the dark-blue natural gem sold for $4.2 million, more than double its high estimate ($193,000 per carat). The stone is mounted on ring by Cartier flanked by two trapeze-shaped diamonds.

The sapphire was from the private collection of Margaret Adderley Kelly, who, along with her husband and son, help shape the national employment agency and recruitment firm, Kelly Services, Inc., into a Fortune 500 company.

The collection of 28 lots from the original “Kelly Girl” all sold, fetching $9.8 million, nearly double its pre-sale estimate of $5 million. Two other items were among the 10 best selling lots at the auction. They are: an Art Deco necklace featuring a 16.24-carat D-color, internally flawless, VS2, pear-shaped diamond pendant, that sold for more than $2.2 million (pictured above), just above its high estimate of $2 million; and a Burmese ruby and diamond cluster necklace (pictured below) that sold for $845,000, well above its $600,000 high estimate.

Christie’s auction of 230 lots totaled nearly $27.6 million, with 79 percent sold by lot and 94 percent sold by value. It marked the last jewelry auction of the spring season for the international auction house. The top lots were largely dominated by colored gems and diamonds, and statement white diamonds. 

The second highest sale of the event was an 80.73-carat cushion-cut, K-color diamond that sold for $3.8 million, within its estimate. The purchaser was listed as SIBA Corp.

Other top lots in the sale include: 

* A 9.97-carat, cushion-cut, Kashmir sapphire that sold for more than $1.1 million

* A 28-carat cushion-cut Intense Fancy Yellow, VS2 diamond that sold for $857,000

* A 27.83-carat rectangular-cut Ceylon sapphire that sold for $845,000, well above its $500,000 high estimate

* A 25.82-carat cushion-cut, K-color, VS2 diamond, that sold for $725,000, just above its high estimate

With the latest auction results, sales at Christie’s jewelry department totaled $69.5 million for the first half of 2015. 

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‘Kelly Sapphire’ And 16-Ct. Diamond Necklace Each May Fetch $2 Million

Art Deco necklace with 16.24-carat D-color, internally flawless, VS2, pear-shaped diamond

The jewels of business woman and philanthropist, Margaret Adderley Kelly, will lead Christie’s final jewelry auction of the spring season in New York on Tuesday. The 28 lots in the private collection include a Cartier Kashmir sapphire ring and an Art Deco diamond pendant necklace along with large diamond and gold suites, a variety of pearls and several ruby and sapphire pieces.

Ms. Kelly along with her husband, the late William R. Kelly, and their son, Mr. Terence E. Adderley, shaped the national employment agency and recruitment firm, Kelly Services, Inc., into a Fortune 500 company that now employs more than 550,000 people globally. 

One of the top lots is called “The Kelly Sapphire,” (pictured above) a Cartier signed ring centered with a 21.71-carat Kashmir sapphire with no traces of heat enhancement. The stone is flanked by two trapeze-shaped diamonds. Its estimate is $1.5 million - $2 million. 

The other item of note in the Kelly collection is an Art Deco necklace that features a 16.24-carat D-color, internally flawless, VS2, pear-shaped diamond pendant (top photo). Its estimate is $1.6 million to $2 million.

The diverse offering of more than 200 lots at Christie’s New York Important Jewels sale on Tuesday includes a group of colored and colorless diamonds, rare gemstones, and signed designer jewels.

Other auction highlights include:

* An 80.73-carat cushion-cut, K-color diamond with an estimate of $3 million - $5 million

* A 9.97-carat, cushion-cut, Kashmir sapphire with an estimate of $950,000 - $1.25 million

* A 28-carat cushion-cut Intense Fancy Yellow, VS2 diamond with an estimate of $700,000 - $900,000

* A 25.82-carat cushion-cut, K-color, VS2 diamond with an estimate of $600,000 - $700,000

* A 15.54-carat cut-cornered step-cut diamond by Cartier with an estimate of $330,000 - $450,000

* An Art-Deco diamond bracelet by Cartier with an estimate of $380,000 - $450,000

* A necklace with a 5.06-carat, pear-shaped D-color diamond and a 1.68-carat, pear-shaped fancy purplish-pink diamond, with an estimate of $280,000 - $350,000

* A 14.5-carat cut-corned fancy yellow diamond by Graff with an estimate of $250,000 - $350,000

* A 7.27 oval cut Colombian emerald with an estimate of $260,000 – $300,000

Kashmir Sapphire Sets Record, Jackie O’s Van Cleef Rubies Fetch $302,000, Spanish Royal Brooch Failed To Sell

Van Cleef & Arpels ruby and diamond ear pendants owned by Jacqueline Kennedy Onassis

It was a busy evening at at Christie’s Geneva Magnificent Jewels sale held Wednesday. The auction of 341 lots were led by statement diamonds, gems with exceptional origins and natural pearls. However, there were downsides as an historically significant and highly touted Spanish royal brooch was among the 23 percent of lots that did not sell.  

Jacqueline Kennedy Onassis ruby ring

One of the most anticipated lots in the sale was Jacqueline Kennedy Onassis’ ruby ear clips by Van Cleef & Arpels and a ruby ring. The items sold as a set for $301,959. The jewels were a wedding gift from Aristotle Onassis in 1968. Each ear pendant top is designed as an openwork pavé-set diamond leaf, suspending a detachable cabochon ruby and brilliant-cut diamond cluster pendant. The ring is centered by a heart-shaped cabochon ruby within a brilliant-cut diamond surround to the pavé-set diamond shoulder.

The top lot of the sale was a 5.18-carat rectangular-cut Fancy Vivid Pink diamond on a ring (pictured above) that sold for just over $10.7 million (more than $2 million per carat). The gem was set in gold within an oval-shaped diamond surround. This was followed by a 55.52-carat pear shaped D-color, Flawless diamond that sold for just over $9 million. 

Colored gems of exceptional origins continue to show its strength. A cushion-shaped Kashmir sapphire ring of 35.09 carats (pictured above) sold for a world auction record price of $7.35 million ($209,689 per carat). A cushion-shaped Burmese ruby ring of 30.20 carats sold for $3.4 million ($112,850 per carat). 

A late 19th century single-strand natural pearl necklace, measuring approximately 11.1 to 7.8 mm, sold for more than $3.8 million. 

Historic Maria Christina Royal Devant-de-Corsage brooch that failed to sell

At the other end of the spectrum, the historically significant Maria Christina Royal Devant-de-Corsage brooch was pulled from the auction. It had an estimate of $1.5 to $2 million. The brooch was presented as a wedding gift in November 1879 from King Alfonso XII of Spain to his wife, the Archduchess Maria Christina of Austria, soon to be Queen Consort and then Queen Regent of Spain. The brooch, which was highly touted by Christie’s before the sale, is part of the collection belonging to Baroness Thyssen-Bornemizsa.

The auction of 341 lots realized more than $97.5 million, with 77 percent of items sold by lot and 81 percent sold by value. 

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100-Carat Diamond Sells For $22 Million At Sotheby’s

Sotheby’s called it the “perfect’ and “ultimate” diamond and “unlike any other before.” Now it can be called the $22 million diamond.

The 100.20-carat, D-Color, Internally Flawless, emerald-cut diamond was easily the top lot Tuesday at Sotheby’s New York Magnificent Jewels sale.

The Type IIa gem joins a group of only five other diamonds of more than 100 carats with similar attributes that have been sold at auction worldwide, the auction house said. The gem is further distinguished by its emerald cut, making it the largest perfect diamond with a classic emerald-cut ever to be offered at auction.

The gem came from a rough that weighed more than 200 carats and was mined by De Beers in southern Africa. It took more than a year to craft the diamond from the rough.

Gary Schuler, head of Sotheby’s Jewelry Department in New York, compared the diamond to “a pool of icy water.”

The sale price (which includes buyer’s premium) was within its estimate and amounts to $220,459 per carat. The buyer was not named.

The auction totaled nearly $65.1 million in which 79.9 percent was sold by lot and 84.4 percent by value. The other best-selling lots were dominated by colored diamonds and gems, particularly Kashmir sapphires. Cartier pieces were also in high demand.

The other top lots from the Magnificent Jewels sale are as follows:

* A 22.30-carat Internally Flawless oval diamond ring sold for $3.25 million ($145,740 per carat).

* The 35.02-carat Flagler Emerald, described as an important emerald-cut classic Colombian emerald and diamond pendant, sold for $2.77 million ($79,098 per carat)—well above its high estimate of $1.5 million.

* The Baron de Rothschild Necklace, described as an emerald, sapphire, lapis lazuli and diamond pendant-Necklace, designed by Charles Jacqueau for Cartier, Paris, circa 1924, sold for $2.59 million.

* A 6.24-carat, pear-shaped fancy purplish pink diamond with VVS2 clarity and Kashmir sapphire ring and sold for $2.4 million ($386,218 per carat).

* An 11.41-carat, Internally Flawless, round-cornered rectangular modified brilliant-cut fancy light pink diamond and diamond ring sold for $1.9 million.

* An 11.90-carat Kashmir sapphire and diamond ring of by Cartier, circa 1915, sold for $1.9 million ($162,185 per carat).

* Iconic emerald, ruby, diamond and enamel ‘Tutti Frutti’ Bracelet, Cartier, New York, circa 1928, sold for $1.6 million.

* 14.33-carat marquise-shaped diamond ring, D color and VVS1 clarity, sold for $1.15 million ($80,251 per carat).

* A 17-carat Kashmir sapphire and diamond brooch by Schlumberger for Tiffany & Co., circa 1960, formerly from the collection of Mrs. Paul Mellon sold for just over $1 million ($60,588 per carat).

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28-Carat Kashmir Sapphire Sets World Auction Record

A 28.18-carat square emerald-cut Kashmir sapphire sold for nearly $5.1 million. It achieved $180,731 per carat, setting a world auction record of a price per carat for a sapphire.

“With its exceptional quality and deep color, I knew as soon as I saw it that the stone had the potential to reach historic heights,” Gary Schuler, head of Sotheby’s Jewelry Department in New York, said in a statement.

The untreated gem on a ring is framed by 32 tapered baguette diamonds with a mounting by Oscar Heyman & Brothers. It is described by the American Gemological Laboratories as “a gem of singular importance.” The proceeds of the sale will go toward charity, according to the auction house.

The sapphire was one of three colored gems that took top honors in Sotheby’s spring auction of Magnificent Jewels held Tuesday in New York.

The top lot of the auction went to a 15.23-carat fancy intense orangy pink diamond on ring that sold for $6.1 million (pictured above). The cushion-cut diamond with VS2 clarity “displays a soft, feminine color reminiscent of pink diamonds in historic and royal collections,” according to the auction house.

In addition, a 36.53-carat emerald-cut Colombian emerald, known as the “El Dorado,” fetched more than $2.1 million (pictured above). Mounted on a ring it is flanked by two triangle-shaped diamonds weighing approximately 6 carats.

Jewelry from the estate of American entertainer Eydie Gorme sold for $2.2 million. Almost all of the jewels in the collection were given to Gorme by her longtime husband and partner, award-winning singer Steve Lawrence. Top lots of this collection included a 15.44-carat platinum and diamond ring that sold for $677,000. The center diamond is flanked by two pear-shaped diamonds weighing approximately 3 carats. And a 17.40-carat platinum and diamond ring by Harry Winston that sold for $569,000 (pictured above). The center diamond was flanked by two diamond baguettes. Both sold for well above their high estimate.

Sotheby’s auction of 445 lots fetched more than $44.3 million, with 81.8 percent sold by lot and 87 percent sold by value.

“Our results reflect the global participation of bidders throughout the day, with significant interest from private collectors, as well as the steady, strong market for diamonds and gemstones of outstanding quality,” Schuler said.

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Golconda Diamond Ear Pendants to Lead Christie's Hong Kong Jewelry Sale

Imperial Cushions: Pair of 23.49 ct. and 23.11-ct. Golconda diamond ear pendants

A pair of ear-pendants with diamonds from the legendary Golconda mines will be offered at Christie's Hong Kong Magnificent Jewels Sale on May 31. Known as the Imperial Cushions, the 23.49 cts. and 23.11 cts. D potentially flawless Golconda type IIa diamond ear-pendants has a presale estimate of $7 million to $10 million.

Besides the exceptional size and quality of the diamonds, the ear-pendants are fashioned in a cushion shaped cutting style as a perfectly matched pair. The pair of stones is “as rare as you can possibly find,” the international auction house said. “While the diamonds do not actually come with an imperial provenance, the quality, workmanship, size, and rarity are of a caliber worthy of a royal collection.”

The Golconda mines were renowned for the diamonds they produced. Among the legendary diamonds taken from the mines in the region surrounding the ancient ruined city of Golconda in south-central India, is the Darya-e Nur, meaning sea of light, at 185 carats (37 g), the largest and finest diamond of the crown jewels of Iran. Other famous diamonds that are believed to come from the area are the Hope, Wittelsbach and Regent.

The upcoming auction at the Hong Kong Convention & Exhibition Centre will offer close to 300 pieces of diamonds, colored gemstones and jadeite with a presale estimate exceeding $70 million.

Other diamonds highlights include a pair of 13.09-ct. and 12.86-ct. heart-shaped diamond ear pendants with very good polish and symmetry with a presale estimate of $3 million to $4.5 million. The Type IIa, D color with internally flawless clarity diamonds are the largest pair of this quality ever to appear at auction, according to Christie’s.

Another important diamond is an un-mounted 18.88-ct. D color, flawless clarity brilliant-cut, type IIa diamond with a presale estimate of $3.2 million to $5 million. It comes with a Gemological Institute of America certificate.

All three diamonds, as previously mentioned, are of Type IIa quality. These types of diamonds are of the most chemically pure, lacking in nitrogen which therefore yield exceptional optical transparency. These diamonds represent less than 2 percent of the world’s production.

The spring sale also offers a range of important sapphires from top sapphire producing regions, including Kashmir and Burma.

Of note is a pair of 14.84-ct. and 13.37-ct., cushion-shaped Kashmir sapphires and diamond ear pendants with a presale estimate of $2.6 million to $3.8 million. The “cornflower blue” color is a hallmark of Kashmir sapphires. This rich blue is distributed throughout the stones. They possess a high clarity with a superior degree of transparency. The combination of all these characteristics is rare in natural Kashmir sapphires of this size, Christie’s said.

Among the ruby highlights is a pair of 5.23 cts. and 5.13 cts. oval-shaped Burmese ruby and diamond ear pendants with a presale estimate of $1.7 million to $2.5 million. They exhibit a well-saturated color combined with a pleasant cutting style, Christie’s said.

For pearl lovers, the sale includes a three-stranded necklace composed of 143 white natural pearls with lustrous quality. It has a presale estimate of $1.2 million to $1.8 million. The pearls measure from 2.5 to 12.8 mm, spaced by diamonds, with a suspending drop-shaped natural pearl.

A jewelry auction in Hong Kong wouldn’t be complete without Jadeite. The top piece being offered is a ring set with a 13.5mm thick double cabochon perfectly rounded on both sides. “In spite of its thickness, this precious cabochon is of exceptional translucency and purity, with even green tone and without any trace of impurities,” Christie’s said. Its pre-auction estimate is $770,000 to $1 million.