Editor’s Note
A magnificent sapphire with a storied past has shattered expectations at auction, underscoring the enduring allure of historic gems.
The 42.68-carat Vanderbilt Sapphire, a treasure from the shipping and railroad Vanderbilt dynasty, sold for $3.6 million, more than twice its $1.5 million high estimate, at Phillips Geneva.
The sugarloaf Kashmir, unheated, royal blue sapphire was set in a 20th-century Tiffany brooch of openwork scroll design, with white diamonds.
It was the highlight of the Geneva Jewels Auction: V held yesterday (10 November), which raised $17 million, with 85 percent of the 114 lots sold.
The old-cut Golconda 6.95-carat fancy vivid purplish pink diamond that was due to lead the sale was withdrawn by Phillips in agreement with the consignor.
Phillips said a 10.08-carat diamond set an auction record for a light pink-brown diamond, selling for $881,000 (against a high estimate of $650,000).
Over 1,600 visitors attended the preview and sale, and there were bids from 44 countries on the day.
— Benoit Repellin, Phillips’ worldwide head of jewelry
Pic of Vanderbilt Sapphire courtesy Phillips.