Sapphires Shine in Geneva
Geneva was the location for this years May Magnificent Jewels auctions, with sapphires steeling the show and exceeding top estimates.
With a 55.19 carat, blue colour (medium-strong to strong saturation) Kashmir sapphire, the biggest ever to be auctioned, exceeding its top estimate of $2.8 million and achieving an astounding $3.529m at Sotheby's. Head of Magnificent Jewels Sales at Sotheby’s Geneva, Benoit Repellin, said “Kashmir sapphires are among the rarest coloured gemstones known to man. These gems have over the years acquired an almost legendary status.”
Whilst Kashmir sapphires are far rarer than those from Ceylon, both shone at Christie’s and Sotheby’s with all lots exceeding their top estimates.
What Makes Kashmir Sapphires So Rare?
True Kashmir sapphires are extremely rare due to the short period of time they were mined from the original deposit, known as the “Old Mine”. They have a blue colour that is deeply saturated and bright, with a velvety transparency, caused by tiny inclusions scattering light within the stone. Alas few sapphires originating from later mines compare to the quality of the "Old Mine" sapphires.
The best quality sapphires possess a vivid, fully saturated blue colour and the most coveted is known as “royal blue.”
Nowadays, very few truly high-quality Kashmir gemstones are available on the market. It is the uniqueness of their appearance combined with their rarity which make Kashmir sapphires so highly desirable.
The famous ‘Jewel of Kashmir’, a 27.68 carat sapphire was sold at auction in 2015 at Sotheby’s in Hong Kong for a record per carat price of US$242,145.
Sapphire and Diamond Brooch
Formerly in the Collection of Maureen Constance Guinness, Marchioness of Dufferin and Ava, a 55.19 carats and 25.97 carats Kashmir Sapphire and Diamond Brooch.
Sotheby’s