AUCTIONS – Kashmir sapphire outperforms at Sotheby’s Geneva Magnificent Jewels and Noble Jewels live auction

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GENEVA – A Kashmir sapphire achieved the highest price per carat since 2015, at Sotheby’s Geneva Magnificent Jewels and Noble Jewels live auction on May 14, 2024, which saw a series of exceptional results.

The final lot of the sale was a sensational 17.29-carat, “royal blue” Kashmir sapphire that, fuelled by global interest, achieved nearly CHF 3.5 million (seven times the low estimate).

AUCTIONS – Kashmir sapphire outperforms at Sotheby’s Geneva Magnificent Jewels and Noble Jewels live auction

Picture courtesy of Sotheby’s

Other highlights included an impressive 35-carat red spinel which more than doubled its pre-sale estimate, which was soon followed by a bidding frenzy that saw a Ceylon sapphire bring over 20 times its price prediction.

One exceptional white diamond surpassed its estimate, providing a lift for a segment that has been soft recently.

“Despite the restraint we have seen in recent years with white diamonds, the market seemed to boom when our 37.61-carat E-color, Internally Flawless diamond realised twice its estimate after multiple rounds between two impassioned bidders,” said Catharine Becket, Head of Magnificent Jewels, Geneva.

The Internally Flawless round-cornered square brilliant-cut diamond weighing 37.61 carats, E colour with excellent polish and symmetry, sold for CHF 3,871,500 (estimate 1,460,000 – 2,370,000 CHF).

Key Facts & Figures From the Sale on May 14, 2024

  • Sale Total: 31,062,150 CHF / USD $34,265,900 (estimate CHF 18,801,500 – 28,644,50 / USD $20,740,670 – $31,598,890).
  • 90% of all lots found buyers.
  • Over 96% of the lots sold achieved prices in excess of their low estimates with 63% of all lots sold achieving prices above their high estimates.
  • Bidders from North America remain the largest group of all bidders and buyers, followed by Hong Kong and China, then the UK, Switzerland, India and Italy.
  • The sale continues to attract younger bidders with more than 40% of gender-identified bidders aged between 20 and 49 in today’s sale.
  • AUCTIONS – Kashmir sapphire outperforms at Sotheby’s Geneva Magnificent Jewels and Noble Jewels live auction
  • Quig Bruning, Sotheby’s Head of Jewellery for North America and EMEA, during the final bid on Lot 612, a magnificent Internally Flawless unmounted white diamond weighing 37.61 carats which eventually fetched CHF 3.8 million becoming the sale’s top lot
  • Highlights of the sale:
    • Lot 612 – A magnificent Internally Flawless round-cornered square brilliant-cut diamond weighing 37.61 carats, E colour with excellent polish and symmetry, sold for CHF 3,871,500 (estimate 1,460,000 – 2,370,000 CHF).
    • Lot 530 – Diamond riviere necklace designed as graduated row of brilliant-cut diamonds, sold for CHF 342,900 (estimate 100,000 – 200,000 CHF).
    • Lot 602 – Elegant white diamond tiara, circa 1960, formerly in the collection of Anne Gunning Parker, Lady Nutting (1929-1990), sold for CHF 241,300 CHF (estimate CHF 110,000 – 160,000).
    • Lot 539 – A pair of diamond pendent ear clips, circa 1951, by René Boivin, sold for CHF 76,200 (estimate CHF 20,000 – 30,000).

     

    Stand Out Sapphires

    • Lot 620 – A highly Important sapphire and diamond ring, set with a cushion-shaped sapphire of Kashmir origin, with no indications of heating, weighing 17.29 carats between triangular diamond shoulders, sold for CHF 3,448,000 (estimate 500,000 – 800,000 CHF).
    • Lot 604 – An impressive sapphire and diamond parure from a Royal Collection comprising: a pendent necklace centering an oval sapphire weighing 51.77 carats, set with pear-shaped, brilliant-cut and tapered baguette diamonds, length approximately 440mm; a bracelet set with an oval sapphire weighing 20.77 carats, length approximately 180mm; a pair of earrings, each set with an oval sapphire weighing 8.43 and 8.12 carats respectively, sold for CHF 1,270,000 (estimate CHF 730,000 – 1,100,000).
    • Lot 516 – Sapphire and diamond ring of Ceylon origin, with no indications of heating, set with an oval sapphire weighing 23.65 carats between triangular diamond shoulders, sold for CHF 685,800 CHF (estimate CHF 30,000 – 50,000).
    • Lot 518 – Sapphire and diamond ring signed Bulgari, set with a cushion-shaped sapphire of Kashmir origin with no indications of heating weighing 9.86 carats, between fancy-shaped diamond shoulders, sold for CHF 685,800 (estimate CHF 320,000 – 410,000).

     

    ‘Iconic Jewels: Her Sense Of Style’ A Sensational Live White Glove Sale

    • Lot 572 – A rare and Important gem set and diamond sautoir, ‘Buddha’, circa 1971, signed Bulgari. It is a detachable pendant depicting the Buddha composed of polished citrines and onyx, accented by a buff-top ruby and brilliant-cut diamonds, featuring a halo embellished with calibré-cut sapphires and brilliant-cut diamonds, with a fancy link chain enhanced with collet-set cabochon citrines, onyx and a sapphire, formerly in the collection of Lyn Revson. It sold for CHF 660,400 (estimate CHF100,000 – 200,000).
    • Lot 575 – A pair of sapphire and diamond ear clips, ‘Petits Pavots’, circa 1969, signed Van Cleef & Arpels, each designed as a poppy, the petals mystery-set with calibré-cut sapphires, the stamen and leaves set with brilliant-cut diamonds, accented by calibré-cut diamonds, sold for CHF 444,500 (estimate CHF 100,000 – 200,000).
    • Lot 549 – An attractive emerald, ruby and diamond bracelet, ‘Tutti Frutti’, circa 1939, signed Cartier, designed as a vine pavé-set with brilliant- and circular-cut diamonds, enhanced with carved and cabochon rubies and emeralds, complemented by ruby and emerald beads drill-set with single-cut diamonds, accented by square diamonds, sold for CHF 482,600 (estimate CHF 200,000 – 400,000).
    • Lot 547 – Important emerald, ruby, enamel and diamond pendent necklace, circa 1929 and later detachable pendant/brooch of giardinetto design, featuring carved and fluted emeralds, enhanced with carved rubies, black enamel, circular-cut and baguette diamonds, to a necklace similarly set, sold for CHF 406,400 (estimate CHF 150,000 – 250,000).