Ruby and Diamond Necklace Sells for 20 Times Estimate
June 09, 26
(IDEX Online) - A diamond necklace featuring a 5.02-carat Burmese ruby sold for $2,178,000 - more than 20 times its pre-sale low estimate at Bonhams New York yesterday (8 June).
The auction house said there was "intense competition" for the piece, which had been expected to fetch just $100,000-150,000.
The oval-shaped ruby was certified by AGL as a pigeon's blood gem, of classic Burma origin, with no gemological evidence of having been heated.
It was mounted in platinum with alternating baguette and round brilliant-cut diamonds, to a graduated diamond necklace of similar design, and with a detachable pendant.
At the same Exceptional Jewels sale, an unmounted 30.61-carat oval Paraiba tourmaline from Mozambique sold for $1,452,000 - more than nine times its pre-sale estimate of US$150,000-250,000.
"Both lots far exceeded their pre-sale estimates, underscoring the continued strength of global demand for rare coloured gemstones and exquisitely crafted jewels of exceptional quality," said Caroline Morrissey, Bonhams SVP and Head of Jewellery, US.
Pic of the ruby and diamond necklace, courtesy Bonhams.