Burmese Ruby Smashes Estimate, Sells for $5.5m
December 12, 24
(IDEX Online) - A 10.33-carat Burmese ruby and diamond ring smashed its $2m high estimate and sold for $5.5m at Sotheby's New York.
The cushion-cut ruby (pictured), described as having a "pigeon blood" hue, is flanked by two pear-shaped D-color diamonds weighing 0.71 carats and 0.70 carats.
The Magnificent Jewels yesterday (11 December) raised a total of $30m (pre-sale estimate was $19.8m to $29.5m), with 92 per cent of lots sold.
Among the other highlights was an unmounted emerald-cut 7.00-carat fancy intense purplish pink diamond that sold for $3.42m (estimate $3.25m and $4.25m).
"We are incredibly proud of today's strong results, which further underscore the market's growing confidence and sets a promising tone for our sales in the year ahead," said Quig Bruning, head of Sotheby's Jewels, Americas & EMEA.
"The enthusiasm from international collectors translated into strong bidding across the board — in clear recognition of the rare and world-class pieces we offered, including the remarkable ruby, as well as the thriving white diamond market."