Bvlgari sapphire and diamond necklace sells for $3.4 million at auction – Robb Report
One of the largest sapphires in recent auction history has sold for a fittingly huge sum.
A 118.5-carat ‘royal blue’ gemstone, the centerpiece of a spectacular diamond necklace by Bvlgari, sold for $3.4 million at Phillips in Hong Kong on Tuesday, May 23.
The glitter, which came from a private collection, was expected to fetch between $3.2 million and $4.5 million at the auction house’s Jewels & Jadeite sale. It didn’t reach the top, but the final hammer price is still pretty impressive. Even more impressive is the fact that this is one of the largest sapphires to be auctioned in the last 30 years.
This Italian jeweler created a cushion-shaped sapphire in 2004. The Gübelin Gem Laboratory has given this stone an ‘Exceptional’ color grade due to its even saturation. This is rarely seen in unheated blue sapphires of this size. The blue beauty hangs from an equally striking necklace in which tapered baguette diamonds are elegantly connected at points by pear-shaped diamonds. The placement of the ice recalls classic Bvlgari designs from the 1930s and his 50s.
Necklaces, of course, weren’t the only autographed high jewelery collections that attracted bids on Tuesday. Phillips sold 89 of the 98 lots, raising a total of $7.5 million. The sale reportedly attracted collectors from 34 countries and regions around the world. Other big deals included a 6.3 carat sapphire and diamond Tiffany ring and a Van Cleef & Arpels Pink His sapphire and diamond necklace, both of which he sold for $421,665.
“We have seen strong demand for gem and jadeite auctions this season, with an impressive sell-through rate of 93 percent by value and 91 percent by lot,” said Benoît Leperin, Head of Worldwide Jewelery at Philips. said Charlene Lau, Head of Hong Kong Division. said in a statement. “This extraordinary achievement is a testament to the thriving signed gem market and a testament to the enduring strength of the still-popular colored gem, diamond and colored diamond markets.”
Best place? Phillips will hold another jewelry auction in New York on his June 13th. Everyone, please mark your calendars.