We have news that an 8.99 carat Kashmir Sapphire, Diamond, Platinum Ring fetched $527,500 to lead Heritage Auctions’ $4.1+ million jewelry event recently. This AGL certified ring has untreated Kashmir sapphire with no heat and was expected to bring more than $250,000.
Director of Fine Jewelry at Heritage, Jill Burgum had said that this ring is of significant importance as Kashmir is the rarest sapphire and the mine is all mined out. What makes this particular sapphire even more impressive is that the color is natural. There has been no color enhancement or treatment done. The sapphire is accompanied by an AGL certificate stating: Kashmir, no heat, and it is pectacular.
But this was not the only Kashmir Sapphire to be featured at this auction. The 8.98 sapphire was accompanied by another, smaller 4.86 carat KashmirSapphire, Diamond, White Gold Ring, no heat, which carried a pre-auction estimate of $60,000 and reports are that it realized $104,500.
Besides the dazzling sapphire at the top of the auction, there was also a 4.26 carat Diamond, Platinum Ring was another collector’s item because of its clarity. According to Burgum this diamond is graded by GIA as F color and it is Internally Flawless which is something rare, especially at 4.26 carats. Also featuring at the auction were the 9.95 carat Columbian Emerald, Diamond, Platinum Ring along with a 9.81 carat Ruby, Diamond, Platinum Ring.
After the auction Burgum said that this amazing sapphire was certainly the highlight of the auction but it more than doubled its pre-auction estimate and was the chief indicator of the fierce competition that was seen on many colored diamonds and gemstones in the auction. The spirited bidding on the large Kashmir sapphire was closely matched by the impressive contest for a dramatic Colombian Emerald, Diamond, Platinum Ring, which tripled its pre-auction estimate of $100,000+ to finish the day at $302,500, while bidders also showed substantial interest in a 4.26 carat Diamond, Platinum ring, which realized $104,500 and in a 9.81 carat Ruby, Diamond, Platinum ring, which flirted with a six-figure final price realized to finish the day at $98,500.
The extremely rare Kashmir sapphire has been the most celebrated, valuable and coveted sapphire variety since the first Kashmir sapphire was discovered in India in the 1870s.