The holiday season has sparked a frenzy in the world of jewelry auctions, with red-toned gemstones taking center stage at prestigious houses like Sotheby’s and Christie’s. Rubies, spinels, and Alexandrites have dominated the spotlight, fetching millions for the auction houses, while Phillips is gearing up for its own jewelry sale tomorrow.
At Sotheby’s, a 10.33-carat Burmese ruby and diamond ring became the crown jewel, selling for an impressive $5.5 million. The ring’s rarity and vivid “Pigeon’s Blood” color—known for its intense fluorescence and high chromium content—made it an exceptional piece. The stone’s natural, unheated state and accompanying reports from SSEF, Gübelin, and GIA further elevated its value. Burmese rubies, once more abundant, are now increasingly rare due to political and economic instability in Myanmar, making this piece even more coveted.
Another standout at Sotheby’s was a 16.53-carat alexandrite ring, which set a world record by fetching $1.9 million. Known for their color-changing properties, alexandrites shift from purple to red to bluish-green, depending on the light. This particular Brazilian stone, renowned for its transparency and untreated state, highlights the growing demand for larger alexandrites, which rarely exceed 5 carats in the market.
Over at Christie’s, the spotlight fell on a pair of remarkable Tanzanian spinel and diamond earrings by Harry Winston. Weighing 22.42 and 21.87 carats respectively, the earrings fetched $2.23 million. Known for their striking color and rarity, Tanzanian spinels, though not as famous as their Burmese counterparts, commanded attention, particularly when presented in such exceptional size. The earrings’ price was further inflated by their association with the prestigious Harry Winston name.
Also making waves at Christie’s was a stunning Cartier brooch, which sold for $1.38 million, far surpassing its top estimate of $150,000. Set with natural pearl, briolette-cut pink tourmaline, carved ruby, carved onyx, and old and single-cut diamonds, the piece is a testament to Cartier’s craftsmanship and was part of the collection of the late interior designer and philanthropist Mica Ertegun.
For those looking to participate in Phillips’ upcoming New York Jewels auction, all eyes are on a no-heat unmounted Kashmir sapphire, estimated to sell for between $150,000 and $300,000. With high expectations set by recent record-breaking sales at Sotheby’s and Christie’s, this sapphire promises to be one of the most highly anticipated lots of the season.
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