AuctionsOct 13, 2022
These 8 Blue Diamonds Worth $70M+ Will Go Up for AuctionAuctionsNov 04, 2022
5-Carat Emerald Ring From 400-Year-Old Shipwreck Surfaces for Auction
Sotheby’s estimates the piece, pulled from the sunken Nuestra Señora de Atocha, could sell for $50,000-$70,000.
This 6.25-carat octagonal step-cut emerald ring sunk with the Spanish ship Nuestra Señora de Atocha in 1622 but was recovered in 1985. On Dec. 7, Sotheby’s will put it up for auction for the first time as part of its Magnificent Jewels sale in New York.
New York—Four hundred years after it sunk in a shipwreck and more than three decades after being found, an emerald ring from one of history’s most successful treasure hunts will soon hit the auction block.
Sotheby’s has unveiled a 5.27-carat octagonal step-cut emerald ring that will appear in its New York jewelry auction next month, salvaged from the wreck of the Spanish ship Nuestra Señora de Atocha.
The Casa de Contratación, a Spanish government agency that tried to regulate the country’s exploration and colonization efforts, commissioned the Atocha. It was constructed in Cuba and crossed the Atlantic Ocean to Spain in late 1620.
In March 1622, the Atocha joined the Tierra Firma fleet and departed Spain for the West Indies. In Cartagena, Colombia, and Portobelo, Panama, the belongings of the noble families and other passengers were loaded onto the galleon for the return journey to Spain.
When it set out in again in September 1622, it was the middle of hurricane season, and the Atocha only made it as far as the Florida Keys before hitting a squall and sinking along the reefs.
But the ship was far from forgotten—treasure hunters spent more than 300 years looking for it.
Mel Fisher, a diver interested in shipwrecks, started exploring the waters of the Florida coast in the 1960s in search of Spanish ships lost in the area, including the Atocha.
The lost ship was discovered in 1985, when Fisher’s team uncovered its main hull and, in it, a plethora of hidden treasure: about 180,000 coins and 24 tons of ingots made from Bolivian silver, as well as 125 bars of gold bullion from the Caribbean, Mexico, and the Andes, among many other items.
The ship’s detailed log also recorded 70 pounds of rough emeralds from Colombia, sourced at Chivor and Muzo.
Related stories will be right here …
Sotheby’s has unveiled a 5.27-carat octagonal step-cut emerald ring that will appear in its New York jewelry auction next month, salvaged from the wreck of the Spanish ship Nuestra Señora de Atocha.
The Casa de Contratación, a Spanish government agency that tried to regulate the country’s exploration and colonization efforts, commissioned the Atocha. It was constructed in Cuba and crossed the Atlantic Ocean to Spain in late 1620.
In March 1622, the Atocha joined the Tierra Firma fleet and departed Spain for the West Indies. In Cartagena, Colombia, and Portobelo, Panama, the belongings of the noble families and other passengers were loaded onto the galleon for the return journey to Spain.
When it set out in again in September 1622, it was the middle of hurricane season, and the Atocha only made it as far as the Florida Keys before hitting a squall and sinking along the reefs.
But the ship was far from forgotten—treasure hunters spent more than 300 years looking for it.
Mel Fisher, a diver interested in shipwrecks, started exploring the waters of the Florida coast in the 1960s in search of Spanish ships lost in the area, including the Atocha.
The lost ship was discovered in 1985, when Fisher’s team uncovered its main hull and, in it, a plethora of hidden treasure: about 180,000 coins and 24 tons of ingots made from Bolivian silver, as well as 125 bars of gold bullion from the Caribbean, Mexico, and the Andes, among many other items.
The ship’s detailed log also recorded 70 pounds of rough emeralds from Colombia, sourced at Chivor and Muzo.
As a patron of the Atocha recovery, the late agri-business pioneer Frank Perdue, founder of the eponymous poultry farming company, was given some of the treasures pulled from the shipwreck, including silver, gold coins, and gems.
Though he later donated most of the coins and other artifacts to Delaware Tech and the Smithsonian Institution, there was one jewel he kept—an emerald he had cut and mounted in a ring to propose to his wife, author and philanthropist Mitzi Perdue, in 1988.
The emerald heads to Sotheby’s straight from her personal collection. It’s expected to sell for between $50,000 and $70,000.
The ring will be offered at Sotheby’s Magnificent Jewels sale on Dec. 7 in New York—its auction debut—with proceeds from the sale supporting humanitarian efforts in Ukraine.
It joins many other notable jewels in the auction, including the 303.10-carat “Golden Canary” diamond, the largest flawless or internally flawless diamond ever graded by GIA.
Both will be on display at Sotheby’s York Avenue galleries beginning Nov. 30 as part of its “Luxury Week” sales series.
“I’m overjoyed to offer this extraordinary piece from my private collection. While I have cherished my beautiful engagement ring for over 30 years, I would like to use it now to benefit the great people of Ukraine,” Mitzi said.
“I am honored to partner with Sotheby’s in offering this jewel for auction this year, on the 400th anniversary of the Atocha Shipwreck, and I know my late husband, Frank Perdue, would share my desire to help those in dire need.”
Editor’s note: This story was updated on Dec. 8, 2022 to reflect a carat weight change from 6.25 carats to 5.27 carats, per an updated report from AGL, which also confirmed the emerald is of Colombian origin with minor, traditional treatment.
More on Auctions
The Latest
EditorsNov 15, 2024
Why Fine Jewelry Belongs at New York Comic ConSenior Editor Lenore Fedow makes the case for why more jewelers should be appealing to nerds at the annual event.
CollectionsNov 15, 2024
Marie Lichtenberg Battles Counterfeits with New ‘Raiz’in Scapular’ DesignsThe latest “Raiz’in” drop showcases a newly designed “Scapular” necklace and donates a portion of the proceeds to Make-A-Wish France.
WatchesNov 15, 2024
Piece of the Week: Citizen’s Commemorative Pocket WatchNo. 1 out of 100, the timepiece was created to mark Citizen’s 100th anniversary and will be auctioned off at Sotheby’s next month.
Brought to you by
Navigating Cybersecurity: Essential Guidance for JewelersFrom protecting customer data to safeguarding inventory records, it's crucial to learn how to tackle cybersecurity challenges.
Recorded WebinarsNov 15, 2024
Watch: 10 Tips to Keep Your Jewelry Store Secure On the latest episode of “My Next Question,” two experts share best practices for store security during the holidays and year-round.
Weekly QuizNov 14, 2024
This Week’s QuizTest your jewelry news knowledge by answering these questions.
MajorsNov 14, 2024
Saks Fifth Avenue Cancels Holiday Light DisplayInstead of its usual elaborate display, the store will illuminate its façade and frame the windows to highlight its flagship’s architecture.
WatchesNov 14, 2024
Grand Seiko Partners With Ben Bridge on First Hawaii Store The new Grand Seiko boutique is located in Honolulu’s Waikiki neighborhood.
Brought to you by
Enhance Your Expertise with IGI’s In-Person Courses in NYCThis fall, sharpen your skills in jewelry grading, quality control and diamond assessment.
SourcingNov 13, 2024
Gem Legacy Adventures Announces 2025 Trip Eleven spots are available for travelers to visit Northern Tanzania and Southern Kenya from July 25 to Aug. 4.
AuctionsNov 13, 2024
‘Exceptional’ Burmese Ruby Ring Tops $5M at Auction Phillips also sold a 1.21-carat fancy red diamond dubbed the “Red Miracle” for more than $1 million at its jewelry auction in Geneva.
MajorsNov 13, 2024
Ariana Grande, Anya Taylor-Joy Star in Holiday Jewelry CampaignsFrom Swarovski to Tiffany & Co., jewelry retailers are enlisting celebrities to highlight their holiday offerings.
MajorsNov 13, 2024
Royal Chain’s New Catalog Is Out NowThe 2024-2025 book introduces hundreds of new designs.
FinancialsNov 12, 2024
Cartier, Van Cleef & Arpels Continue to Shine for Richemont Richemont’s jewelry sales ticked up 2 percent in the first half of the year, while watch sales plummeted 17 percent.
GradingNov 12, 2024
GIA’s Next-Day Services Return for the HolidaysOffered by the lab since 2016, the holiday season special is good from now through mid-December.
CollectionsNov 12, 2024
Mikimoto and Chrome Hearts Blend Aesthetics in New CollaborationThe “Mikimoto Chrome Hearts” jewelry brings pearls from Mikimoto together with distinctive motifs from Chrome Hearts.
CollectionsNov 08, 2024
Piece of the Week: Larkspur & Hawk’s ‘Tapestry Lily’ Earrings These earrings use flat-backed white quartz to create a window onto an antique ribbon embroidered with a floral design.
Events & AwardsNov 08, 2024
AGTA Reveals Spectrum, Cutting Edge Award Winners for 2024This year’s AGTA Spectrum & Cutting Edge Awards included a new category for engagement rings and a new award highlighting female designers.
FinancialsNov 08, 2024
Brilliant Earth’s Q3 Sales Fall 13%Plus, CEO Beth Gerstein shares her insight on the holiday season and the possibility of new tariffs.
TrendsNov 07, 2024
Amanda’s Style File: Golden and Blue November HuesThe month’s birthstones, citrine and blue topaz, reflect the changing colors of the season.
CollectionsNov 07, 2024
Sidney Garber Collaborates With Carey Lowell on Capsule CollectionThe “Carey Lowell x Sidney Garber” collection stems from the friendship between the jewelry designer and ceramicist.
MajorsNov 07, 2024
Ritani Debuts ‘No-Fuss’ Holiday TV CampaignThe two ads highlight diamond engagement rings and diamond studs with a straightforward approach.
Policies & IssuesNov 07, 2024
Diamonds Do Good To Distribute $250K+ In Grants Next YearIn 2025, the nonprofit plans to continue its support of longstanding partners while also allocating some funds to a new initiative.
AuctionsNov 06, 2024
Two Rolexes With Ties to Titanic Head to AuctionThe Rolex watches are from the collection of “Titanic” co-producer Alfred “Al” Giddings and will go up for sale at Sotheby’s next month.
FinancialsNov 06, 2024
Pandora Posts Double-Digit Revenue Growth in Q3The Danish jewelry company plans to open up to 150 concept stores this fiscal year.
GradingNov 06, 2024
GIA to Close Lab in Ramat Gan, IsraelThe location will close by the end of the year due to it being financially unsustainable, GIA said.
MajorsNov 06, 2024
David Yurman’s Holiday Campaign Celebrates ‘Moments of Joy’The new campaign stars Sterling K. Brown, Hero Fiennes Tiffin, Winnie Harlow, Kyle Kuzma, Arizona Muse, and Iris Law.
CollectionsNov 05, 2024
Jacquie Aiche is Hosting an Online Treasure HuntOne lucky winner will receive a “Lizzie” diamond bracelet.
