Geneva, November 10, 2023 — Sotheby’s much-anticipated jewelry auction in Geneva proceeded as scheduled on Wednesday, albeit with a notable absence—the withdrawal of the extraordinary 94-carat Paraíba tourmaline known as “The Blue Lagoon.”
Anticipated to be the largest top-quality Paraíba tourmaline ever presented at auction, “The Blue Lagoon” had an estimated value of 1.3 million-2.5 million CHF, equivalent to $1.4 million-$2.7 million.
Sotheby’s confirmed the withdrawal, stating, “’The Blue Lagoon’ is an exceptional stone; however, the lot was withdrawn prior to the sale following discussions with the consignor.” The auction house did not elaborate further on the reasons behind the decision.
Despite the absence of this prized gem, Sotheby’s Magnificent Jewels and Noble Jewels sale successfully achieved 41.8 million CHF ($46.5 million), falling within the estimated range of 37.9-58.1 million CHF ($42.1 million-$64.6 million).
Catharine Becket, Sotheby’s head of Magnificent Jewels, Geneva, noted the success of the auction, stating, “Sapphires from Sri Lanka surpassed expectations, fetching multiples of their pre-sale estimates. White diamond solitaire rings also performed exceptionally well, reinforcing their status as industry cornerstones.”
The auction showcased other notable pieces, including the 103.62-carat “Love Stone,” a natural fancy intense yellow diamond ring, which sold for nearly $2.5 million, within its estimate of $2 million-$4 million.
Additionally, the piece titled “Kallima,” featuring a fancy vivid yellow diamond set with emerald and diamond, sold for $960,000, surpassing its estimate of about $400,000-$510,000. This bespoke item, inspired by a genus of butterflies native to Southeast Asia, was commissioned by a collector.
Several emerald jewelry pieces also commanded prices above their high estimates, notably the Cartier “Drapery” demi-parure, circa 1958, which fetched $508,000, slightly exceeding its estimate.
While a 19.03-carat Kashmir sapphire failed to find a buyer within the estimated range of $1 million-1.5 million, other blue-hued gems, including Ceylon and Kashmir sapphires set in jewelry, exceeded expectations.
A pair of fancy intense blue and fancy deep blue diamond earrings surpassed their estimate of $510,000-$710,000, selling for more than $1 million. Furthermore, a 4-carat fancy intense green diamond ring saw fervent bidding, ultimately selling for $1.8 million, falling within its pre-sale estimated range.
