In a glittering ongoing auction at Sotheby’s in Los Angeles, California, two Kashmir Sapphire worth above $1 million are also going under the hammer.
In the auction, the diamond was the top selling item in a sale of more than 350 jewels that were expected to sell for a total of more than $50 million.
Other highlights include a pear-shaped purplish pink diamond weighing 6.24 carats that has a pre-sale estimate of up to $3.5 million as well as a blue diamond and coloured diamond ring weighing 6.06 carats that could bring in as much as $4.5 million.
Two Cartier Art Deco jewels, a rare platinum, emerald, lapis lazuli and diamond pendant necklace as well as a ruby, emerald and diamond bracelet, will also be auctioned.
Significantly, Kashmir-origin contributes meaningfully to the value of a sapphire, and most corundum of Kashmir origin can be readily identified by its characteristic silky appearance and exceptional hue.
At present, the world record price-per-carat for sapphire at auction was achieved by a sapphire from Kashmir in a ring, which sold for $180,731 per carat (more than $5 million in total, including buyer’s premium) in April 2014.