Based on some high-profile jewelry auctions held over the past couple of months, it looks like the demand for red stones isn’t going anywhere.
In a series of estimate-breaking sales at premier price points, red gems—be they rubies, fancy colored diamonds, or spinel—showed their strong appeal and value, raking in millions.
One of the most notable examples is the 10.33 ct. Burmese ruby ring (pictured at top) that achieved $5.5 million at Sotheby’s, far surpassing its high estimate of $2 million. The untreated cushion-cut Burmese ruby is flanked by two pear-shape diamonds of approximately 0.7 ct. each in the ring, which was sold in a Dec. 11 auction.
The same week, Christie’s sold a pair of Harry Winston earrings featuring oversize reddish pink spinels for $2.228 million—more than three and half times their high estimate. The earrings, with oval mixed-cut spinels of 22.42 ct. and 21.87 ct. plus oval and round diamonds, went into Christie’s Magnificent Jewels auction on Dec. 10 with an estimate of $400,000–$600,000.
Earlier in the season, at Phillips’ Geneva Jewels auction on Nov. 11, a 17.97 ct. Burmese ruby ring fetched $5.4 million, aligning with its presale estimate of $4.8 million to $5.5 million. The ruby, set between two pear-shape diamonds, was described as having “exceptional clarity.”
Also at the Geneva auction, Phillips sold the so-called Red Miracle ring, which had a presale estimate of $500,000–$800,000, for $1.1 million. It features a 1.21 ct. cut-cornered rectangular fancy red diamond, surrounded by circular-cut pink sapphires and heart-shape and brilliant-cut diamonds.
As we head into 2025, we’ll be watching out for more prize jewelry lots in shades of red!
(Photos courtesy of auction houses)
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