At auction houses, high-quality gemstones are in hot demand, with some stones under 10 carats fetching prices over a million dollars! Let’s take a look at which rubies and sapphires made headlines and became the focal points of auctions in the past year.
Ruby Series
TOP 10
Graff | Ruby and Diamond Ring
- Auction Date/Location: November 8, 2023, Sotheby’s Geneva
- Estimate: 900,000-1,360,000 CHF
- Hammer Price: 1,633,000 CHF
- Approximately 1,880,000 USD
This ring was designed and crafted by the world-renowned jewelry brand Graff. The centerpiece is a 7.58-carat cushion-shaped ruby, flanked by two half-moon shaped diamonds. Upon examination, the main ruby was found to be of Burmese origin, with saturated color and good clarity, showing no signs of heat treatment. The diamonds weigh approximately 0.8-1 carat each, with an average color grade of F-G and VS clarity.
TOP 9
“Burmese Pigeon’s Blood” Ruby and Diamond Ring
- Auction Date/Location: April 4, 2023, Sotheby’s Hong Kong
- Estimate: 13,500,000 – 18,000,000 HKD
- Hammer Price: 14,970,000 HKD
- Approximately 1,903,000 USD
This ring features an 8.05-carat cushion-shaped ruby surrounded by brilliant-cut diamonds, set in 18k white and yellow gold. The ruby originates from Mogok, Myanmar, and exhibits the coveted “pigeon’s blood” color. It has minimal typical inclusions, very small surface reaching fissures, and shows no signs of heat treatment. The diamonds have an estimated total weight of about 7.79 carats, with average color grades of E-F and VVS-VS clarity.
TOP 8
Harry Winston | “Burmese” Ruby Earrings
- Auction Date/Location: April 4, 2023, Sotheby’s Hong Kong
- Estimate: 15,000,000 – 20,000,000 HKD
- Hammer Price: 15,575,000 HKD
- Approximately 1,907,000 USD
These earrings, designed by Harry Winston, feature two oval-shaped rubies weighing 20.19 carats and 18.68 carats respectively. They are surrounded by oval and pear-shaped diamonds, each weighing about 0.3-0.4 carats, with D to E color and VVS1 to VS2 clarity. The pendants are detachable. Upon examination, both main rubies were confirmed to be of Burmese origin with no signs of heat treatment.
TOP 7
21.88-Carat Ruby and Diamond Ring
- Auction Date/Location: November 7, 2023, Christie’s Geneva
- Estimate: 450,000–650,000 CHF
- Hammer Price: 2,344,000 CHF
- Approximately 2,617,000 USD
The ring’s centerpiece is a 21.88-carat cushion-shaped ruby, surrounded by several cut diamonds. The ring is unsigned, but the auction house suggests it may have been designed by Harry Winston. Upon examination, the ruby was found to originate from Mogok, Myanmar, with no signs of heat treatment.
TOP 6
“Mogok Sun” Ruby and Diamond Ring
- Auction Date/Location: April 4, 2023, Sotheby’s Hong Kong
- Estimate: 14,000,000 – 22,000,000 HKD
- Hammer Price: 22,835,000 HKD
- Approximately 2,910,000 USD
This ring features a 5.05-carat unheated “pigeon’s blood” ruby from Mogok, Myanmar as its centerpiece. It is flanked by two cushion-shaped diamonds weighing 1.06 carats and 1.04 carats respectively.
TOP 5
Harry Winston | “Star of Africa” Ruby Necklace
- Auction Date/Location: May 12, 2023, Christie’s Geneva
- Estimate: 900,000–1,400,000 CHF
- Hammer Price: 2,707,000 CHF
- Approximately 3,028,150 USD
This necklace was designed by Harry Winston, featuring a pear-shaped ruby along with several pear-shaped, oval, and round diamonds. Upon examination, the pendant ruby was found to originate from Mozambique, weighing 54.95 carats, with no signs of heat treatment.
TOP 4
Van Cleef & Arpels | “JARRETIÈRE” Bracelet
- Auction Date/Location: June 7, 2023, Christie’s New York
- Estimate: 2,500,000–4,500,000 USD
- Hammer Price: 4,527,000 USD
This bracelet was designed by Van Cleef & Arpels and created in 1937. The surface of the bracelet is set with several cushion-shaped rubies and cut diamonds. Upon examination, over 50% of the rubies in the bracelet were found to be of Burmese origin, with no signs of heat treatment.
TOP 3
Chaumet | Ruby and Diamond Ring
- Auction Date/Location: May 17, 2023, Christie’s Geneva
- Estimate: 550,000–750,000 CHF
- Hammer Price: 4,703,500 CHF
- Approximately 5,247,370 USD
This ring was designed by Chaumet, featuring a 13.07-carat oval-shaped ruby as the centerpiece, surrounded by 10 colorless pear-shaped diamonds. Upon examination, the ruby was found to be of Burmese origin with no signs of heat treatment.
TOP 2
Sunrise Ruby Ring
Auction Date/Location: May 10, 2023, Christie’s Geneva
Estimate: 14,000,000–18,000,000 CHF
Hammer Price: 13,055,000 CHF
Approximately 14,700,000 USD
This ring was part of the collection of renowned collector Heidi Horten. The centerpiece is a 25.59-carat ruby of Burmese origin, flanked by two colorless diamonds.
In 2015, the Sunrise Ruby was sold for 30.3 million USD, more than double its estimated price. However, when it reappeared at auction in 2023, it didn’t achieve the same success, selling for approximately 14.7 million USD, slightly below the auction house’s estimate.
TOP 1
“Fura” Star
- Auction Date/Location: June 8, 2023, Sotheby’s New York
- Hammer Price: 34,804,500 USD
The centerpiece of this ring is a ruby from Mozambique. The original rough stone weighed 101 carats, which was carefully cut and polished into a 55.22-carat cushion-shaped gem. It possesses an extremely rare vivid red color, fluorescence, and clarity, leading many industry experts to describe it as an “incomparable gemstone.”
The “Fura” Star is also the largest high-quality ruby ever produced from Mozambique. It was ultimately sold for nearly 35 million USD, successfully breaking the auction record previously held by the Sunrise Ruby and becoming the most expensive ruby ever sold at auction.
Sapphire Series
TOP 10
Tiffany & Co. | Sapphire and Diamond Ring
- Auction Date/Location: December 6, 2023, Christie’s New York
- Estimate: 700,000–1,000,000 USD
- Hammer Price: 1,925,500 USD
This ring was designed and set by Tiffany & Co. around 1950. The centerpiece is an 8.91-carat sapphire, flanked by two bullet-shaped colorless diamonds. Upon examination, the sapphire was found to be of Kashmir origin, exhibiting a “royal blue” color with no signs of heat treatment.
TOP 9
Sapphire and Diamond Necklace
- Auction Date/Location: May 10, 2023, Christie’s Geneva
- Estimate: 900,000–1,400,000 CHF
- Hammer Price: 1,981,000 CHF
- Approximately 1,995,000 USD
This necklace is set with fourteen oval-shaped sapphires, with the five largest weighing 22.39, 17.49, 17.41, 15.99, and 13.08 carats respectively. The sapphires are surrounded by numerous colorless cut diamonds, all set in 18k gold. Upon examination, two of the five largest sapphires were found to be of Burmese origin, while the other three were from Sri Lanka. None of the five sapphires showed signs of heat treatment.
TOP 8
Harry Winston | Sapphire Earrings
- Auction Date/Location: May 17, 2023, Christie’s Geneva
- Estimate: 1,400,000–2,000,000 CHF
- Hammer Price: 2,465,000 CHF
- Approximately 2,750,000 USD
These earrings feature two oval-shaped sapphires weighing 52.08 and 51.26 carats as the main stones. The flower-shaped design at the top of each earring is formed by 8 cut diamonds. Upon examination, both main sapphires were found to be of Sri Lankan origin with no signs of heat treatment.
TOP 7
Cartier | Sapphire and Diamond Necklace
- Auction Date/Location: June 8, 2023, Sotheby’s New York
- Estimate: 2,000,000 – 3,000,000 USD
- Hammer Price: 2,843,000 USD
This necklace was designed by Cartier and was part of the collection of the renowned collector Mrs. Mellon. The upper part of the necklace is set with five faceted sapphires, all of Kashmir origin and showing no signs of heat treatment, weighing between 4.44 and 10.01 carats. The necklace is adorned with numerous cut colorless diamonds, with a total weight of approximately 40.09 carats and color grades of E-G. The necklace was designed and produced by Cartier around 1950.
TOP 6
Cartier Sapphire Ring
- Auction Date/Location: December 6, 2023, Christie’s New York
- Estimate: 800,000 – 1,200,000 USD
- Hammer Price: 3,014,500 USD
This ring was set by Cartier, featuring a 23-carat emerald-cut sapphire as the centerpiece. The sapphire exhibits a deep, rich color and is flanked by two tapered baguette-cut diamonds, all set in 18k gold. Upon examination, the main sapphire was found to be of Kashmir origin with no signs of heat treatment.
TOP 5
Cartier | Sapphire and Diamond Ring
- Auction Date/Location: June 8, 2023, Sotheby’s New York
- Estimate: 1,500,000-2,500,000 USD
- Hammer Price: 3,266,500 USD
This ring was designed and set by Cartier and was part of Mrs. Mellon’s collection. The centerpiece is a 33.51-carat emerald-cut sapphire, accented by size 6½ baguette diamonds on both sides. The sapphire exhibits a medium to deep blue color with rich saturation. Upon examination, the sapphire was found to be of Burmese origin with no signs of heat treatment and classified as “Royal Blue” in color.
TOP 4
“Royal Blue” Sapphire and Diamond Ring
- Auction Date/Location: May 17, 2023, Christie’s Geneva
- Estimate: 1,200,000–2,200,000 CHF
- Hammer Price: 3,312,000 CHF
- Approximately 3,695,000 USD
The centerpiece of this ring is a 28.55-carat sapphire exhibiting a “Royal Blue” color. Upon examination, the sapphire was found to be of Kashmir origin with no signs of heat treatment.
TOP 3
Sapphire and Diamond Pendant
- Auction Date/Location: May 16, 2023, Sotheby’s Geneva
- Estimate: 1,650,000 – 2,290,000 CHF
- Hammer Price: 3,932,000 CHF
- Approximately 4,489,000 USD
The main stone of this pendant is a 132.83-carat cushion-shaped sapphire, topped with pear and brilliant-cut diamonds. The sapphire exhibits a rich color and exceptional clarity, further enhanced by its precise cut. Upon examination, the sapphire was found to be of Sri Lankan origin with no signs of heat treatment.
TOP 2
Sapphire and Diamond Ring
- Auction Date/Location: May 27, 2023, Christie’s Hong Kong
- Estimate: 12,000,000–18,000,000 HKD
- Hammer Price: 35,465,000 HKD
- Approximately 4,525,000 USD
The centerpiece of this ring is a 21.38-carat faceted sapphire, flanked by colorless cut diamonds. Upon examination, the sapphire was found to be of Kashmir origin, exhibiting a “Royal Blue” color. The auction house provided an estimate of 12,000,000–18,000,000 HKD based on the gem’s quality and market conditions.
The final hammer price was nearly double the highest estimate, demonstrating the high demand for Kashmir sapphires.
TOP 1
Sapphire and Diamond Pendant
- Auction Date/Location: June 7, 2023, Christie’s New York
- Estimate: 3,000,000–5,000,000 USD
- Hammer Price: 4,648,000 USD
The centerpiece of this pendant is a 71.27-carat cut sapphire, surrounded by 10 cut diamonds weighing between 0.50 and 0.51 carats each. Upon examination, the sapphire was found to be of Burmese origin with no signs of heat treatment. It exhibits a deep, rich color, classified as the most prestigious “Royal Blue” hue among sapphires.
Dazzling Gems: Top 10 Ruby and Sapphire Auction Highlights of the Year
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