Kashmir Sapphire Sells for £1.3 Million at Bonhams Auction

By Paul Joseph

Christmas has come early for the new owner of an extremely rare Kashmir Sapphire single-stone ring, which has sold at auction for an eye-boggling £1.3 million.

The ring went under the hammer as part of the Bonhams Fine Jewellery sale in London, and was the subject of fierce bidding. It eventually sold for £1,375,000 against its pre-sale estimate of £600,000–800,000.

Jean Ghika, Head of Jewellery for Bonhams UK and Europe, said: "2016 has certainly been the year of the Kashmir sapphire. They have performed well at our auctions in London, New York and Hong Kong and are amongst the most highly prized gems for serious collectors.

“This Kashmir sapphire, weighing over 14 carats and with no indication of heat treatment, is a very rare specimen and there was strong competition from buyers worldwide wishing to add it to their collection.”

Other notable trinkets sold at the auction included a 12.08 carats Pear-Shaped Diamond single-stone ring (£773,000), a 21.33 carats step-cut Fancy Pink-Brown Diamond ring (£725,000), an Art Deco Emerald and Diamond bracelet by Cartier (£257,000) and a Single-Strand Natural Pearl necklace (£221,000).

In total, the Bonhams London Fine Jewellery sale achieved £6.8 million, with 95% of lots sold by value.

Bonhams sells more jewellery lots each year than any other international house and has more dedicated jewellery auctions annually.

By Paul Joseph