Where the previous record was set in Geneva at Sotheby's on 13 November 2013, where a pair of sapphire earrings with sapphires of 26.66 and 20.88 cts sold for a total of $8,372,094 or $176,106 per ct, this time a 28.18-carat square emerald-cut Kashmir sapphire was sold for nearly $5.1 million. This means the sapphire reached the astronomical price of $180,731 per carat, setting a world auction record of a price per carat of a sapphire.
Gary Schuler, head of the Sotheby’s Jewellery Department in New York, stated: “With its exceptional quality and deep color, I knew as soon as I saw it that the stone had the potential to reach historic heights.”
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Each year, auction records are set for diamonds, rubies and sapphires, afterwards the astonishing results are being published online.
A quick comparison to rubies: an auction record per carat was reached for an oval cut ruby from Burma, mounted in a ring. It sold at Christie's Hong Kong on 29 May 2012 for a total of $3,347,042 or $554,146/ct.
These precious gems are often set in necklaces, pendants or rings, ornated with diamonds, which results in a magnificent piece of jewellery. This specific Kashmir sapphire was an untreated gem, mounted on a ring framed by 32 tapered baguette diamonds, one of the world’s finest diamond jewellery creations.
When talking about engagement rings, diamonds and sapphires are a classic choice. One of the world’s most famous engagement rings since her engagement to Prince William is Kate Middleton’s, consisting of 14 solitaire diamonds surrounding a 12-carat oval blue sapphire set in 18-karat white gold.