Sotheby’s New York’s first jewellery auction of the fall heeded some unexpected results. The event’s predicted top seller, a platinum ring set with an oval-shaped 27.35-carat diamond, failed to sell, while a 24.72-carat sapphire ring stole the show.
The spectacular diamond, which was forecasted to sell for between USD $2 and $2.5 million, was not mentioned when the auction’s results were released. Rather, the top seller was a Bulgari ring featuring a cushion-cut, 24.72-carat sapphire weighing accented by 9 carats of pear-shaped diamonds. While the ring was only expected to sell for USD $350,000, it managed to garner a whopping $706,000.
With Pantone recently naming lapis as its top colour for spring 2017, this certainly is an interesting turnout. With hues of blue beginning to dominate the market, consider stocking your shelves—and filling your designs—with sapphires.
Author: Canadian Jeweller Magazine Staff
Canadian Jeweller Magazine Staff is the shared byline for reporting filed by the magazine's editorial desk. Founded in 1879, Canadian Jeweller is the longest running jewellery business publication in Canada, covering market reporting, retail strategy, watches, diamonds, coloured gemstones and the commerce of the Canadian jewellery trade. Work published under this byline is edited and verified by the Canadian Jeweller editorial team in Toronto.
