Editor’s Note
This week’s Bonhams London auction concluded 2015 with a festive flourish, setting three world records. Among the highlights was a rare 2.97-carat greyish-blue diamond ring, underscoring the strong market for exceptional coloured gems.
Christmas came early at Bonhams London this week with three new world records set at the last fine jewellery auction of 2015.
A step-cut 2.97ct greyish-blue diamond ring by society jeweller Andrew Grima attracted frantic bidding from buyers not only in the auction room, but online and over the phone, which saw the final price soar to £1,482,500. This figure was more than twice the £500,000-700,000 pre-sale estimate and also set a new world record for a Fancy greyish-blue diamond. It also achieved a second world record as the highest sum ever paid for a Grima jewel.
The second top lot, a pair of late 19th century sapphire earrings with royal provenance, achieved a final selling price of £1,538,500 against a pre-sale estimate of £500,000-800,000. Set with two cushion-cut Kashmir sapphires, weighing 7.92ct and 7.96ct respectively, the earrings once belonged to an unnamed European princess.
Non-heat-treated rubies from Burma and Madagascar are always in high demand and buyers clamoured to get their hands on some spectacular ruby jewellery at Saturday’s auction. Bidders from all over the world helped drive up the final price of a diamond and ruby pendant necklace to £128,000 – more than triple its pre-sale estimate. Set with a 3.83ct Burmese ruby, the necklace dates back to the Belle Époque era and was said by Jean Ghika to be a top quality gemstone with a vibrant red colour.
The third world record of the night was set by a 10.28ct Madagascan ruby ring that sold for £236,500 – the highest price paid per carat for a ruby at auction, a record that was broken less than a week ago at Christie’s Hong Kong by the Crimson Flame ruby.
Signed Cartier jewellery also attracted a lot of interest during the three-hour sale, with an Art Deco diamond brooch, which can be worn in multiple ways, going under the hammer for £84,100. A number of other jewels by Andrew Grima also appeared on the auction block, notably a gold, tourmaline and diamond necklace and earclip suite, which fetched £68,500 – a figure well above the estimated £20,000-25,000.
While a 4.79ct cushion-cut ruby and diamond ring by Graff failed to sell, along with a 5.02ct internally flawless cushion-cut diamond ring signed by Marchak, Paris, in total the auction fetched an impressive £6.79m.
