AuctionsDec 07, 2022
Christie’s Magnificent Jewels Auction Totals Nearly $59M in New YorkAuctionsDec 08, 2022
Shipwreck Emerald Sells for More Than $1M at Auction
The 5.27-carat stone, salvaged from the wreck of the Spanish ship Nuestra Señora de Atocha, blew pre-sale estimates out of the water.
This 5.27-carat emerald ring that belonged to author and philanthropist Mitzi Perdue and was pulled from a 400-year-old shipwreck sold for more than a $1 million at Sotheby’s jewelry auction Wednesday. AGL confirmed in an updated report that it is a Colombian emerald that has undergone only minor, standard clarity enhancement, Sotheby’s said.
New York—An emerald recovered from a 400-year-old shipwreck blew pre-sale estimates out of the water Wednesday at Sotheby’s “Magnificent Jewels” sale in New York.
Estimated at $50,000-$70,000, the 5.27-carat octagonal step-cut emerald mounted on a gold band sold for $1.2 million after a five-minute round of bidding.
Recovered in its rough form, the emerald was among the treasures salvaged from the wreck of the Spanish ship Nuestra Señora de Atocha, which was sailing back to Spain from Colombia and Panama when it sunk amid a storm in the Florida Keys in September 1622.
Treasure hunters found the lost ship in 1985.
One of the financial backers of its recovery was the late Frank Perdue, longtime head of Perdue Farms.
While Perdue donated some of the treasures pulled from the shipwreck, he had one rough emerald cut and mounted into the ring he used to propose to his wife, Mitzi Perdue (née Henderson), an author and philanthropist, in 1988.
The emerald came to Sotheby’s directly from her collection, with all the proceeds from its sale benefitting humanitarian efforts in Ukraine.
“Outside of its superb color, cut, clarity and size, when one considers that this gem is part of one of the richest discoveries of sunken treasure in all of history, the appeal to collectors in search of superlatives is extraordinary,” said Sotheby’s senior jewelry specialist Alexander Eblen.
“It’s been a privilege to have been a chapter in the emerald’s continued storybook journey, and to know that the proceeds will benefit such a worthy cause.”
When Sotheby’s originally announced the stone’s sale last month, the emerald’s weight was reported as 6.25 carats.
Sotheby’s said Thursday the previously reported weight was an approximation derived from measurements, explaining that the stone was in a bezel setting when Mitzi brought it to the auction house, which did not allow its specialists to see its full breadth.
Prior to the sale, she allowed the auction house to remove the emerald from its mounting and have it evaluated by American Gemological Laboratories, which determined its exact carat weight.
Part of Sotheby’s “Magnificent Jewels” sale in New York, the emerald was one of a number of notable jewels up for auction Wednesday in a sale that totaled $50 million and was 81 percent sold by lot.
The 303-carat “Golden Canary” diamond found a buyer, as did eight of the nine pieces of Egyptian Revival jewelry offered by Sotheby’s as a nod to the 100th anniversary of the discovery of King Tut’s tomb.
German goldsmith Gustav Manz collaborated with Arts & Crafts jewelry designer F. Walter Lawrence on the “Desert” brooch. When lit from behind, the glass has an amber glow “capturing the magic and mystery of ancient Egypt,” Sotheby’s said.
Their sale totaled $1.8 million.
Among the highlights was the circa 1901 gold and ancient glass “Desert” brooch pictured above, which sold for three times more than excepted. Estimated to go for $10,000 to $15,000, a buyer paid $44,100 for the piece.
A diamond and colored stone bracelet from Lacloche Frères garnered $1.2 million while a pair of Lacloche Frères ear clips circa 1925 garnered $352,800, toward the low end of their estimated range of $300,000-$500,000.
This Lacloche Frères Egyptian Revival bracelet set with diamonds, rubies, sapphires, and emerald sold near the top end of its pre-sale estimated range of $1 million to $1.5 million, with a buyer paying $1.2 million for the piece.
These Lacloche Frères ear clips depict two Egyptian figures and are set with old European- and single-cut diamonds, buff-top emeralds, rubies, and onyx, with articulated fringe set with diamonds, emeralds, and rubies. They sold for $352,800.
A buyer paid more than $60,000 for this Egyptian Revival brooch from Italian jewelry house Castellani.
However, this Egyptian Revival necklace from the Italian jewelry house did not sell.
A brooch from Castellani featuring a scarab made out of Egyptian faience (a ceramic material) and carved with the baboon god sold for $63,000 against an estimate of $50,000 to $150,000.
Another jewel from the Italian jewelry house—a gold necklace featuring micromosaic and scarabs carved in soapstone estimated at $450,000 to $600,000—was the lone Egyptian Revival piece that did not sell.
An Egyptian Revival necklace Louis Comfort Tiffany made for Tiffany & Co. in 1913, pictured directly above, sold for $75,600, near the top end of its estimated range of $60,000 to $80,000.
The double-strand necklace features an amulet with an oval-shaped lapis lazuli cabochon suspended from a double strand of gold, lapis lazuli, turquoise, carnelian, and green hardstone beads.
Sotheby’s said the necklace can be viewed as a modern interpretation of an ancient Egyptian “menat,” a type of beaded necklace intended to bring good luck, fortune, and protection.
More on Auctions
The Latest
CollectionsMar 13, 2026
A Trio of Jewels from the 3 Gem Award Nominees for Jewelry DesignOur Pieces of the Week honor the 2026 nominees for the Gem Award for Jewelry Design, Silvia Furmanovich, Cece Fein-Hughes, and Catherine Sarr.
WatchesMar 13, 2026
Citizen, Vera Wang to Launch Watch CollectionThe 24-piece watch collection is set to debut in spring 2027.
SourcingMar 13, 2026
Andrea Pooler Joins Third-Generation Diamond Company as COO Pooler, who has more than 25 years’ experience in jewelry, is now chief operating officer of Modani Jewels, Soham Diamonds, and SNJ Creations.
Brought to you by
Is This You? Every Jeweler Has This Problem; We Have the Solution.Every jeweler faces the same challenge: helping customers protect what they love. Here’s the solution designed for today’s jewelry business.
MajorsMar 13, 2026
24 Karat Club of New York’s Banquet to Return to Waldorf AstoriaThe reopening of the Waldorf Astoria means a homecoming for the industry group’s annual event, which will take place Saturday.
Weekly QuizMar 12, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CollectionsMar 12, 2026
Jessica McCormack Sends Gold, Gemstones Into ‘Orbit’McCormack looked to the 19th century’s “golden age” of astronomy when designing her new celestial-themed collection.
Events & AwardsMar 12, 2026
Johnny Nelson Wins David Yurman Gem Awards GrantNelson will be honored as the inaugural grant winner at the Gem Awards gala on Friday.
Brought to you by
DCA Enters a New Chapter in Jewelry EducationWith refreshed branding, a new website, updated courses, and a pathway for growth, DCA is dedicated to supporting retail staff development.
TechnologyMar 12, 2026
Caratwise Launches, Names Former Signet Exec CEO The new smart design software allows jewelers to configure, price, and confirm a custom engagement ring in real time for in-store customers.
SourcingMar 12, 2026
Grandview Klein Opens New Factory in South Africa The 10,000-square-foot diamond manufacturing facility officially opened in late February and employs 50 people.
Events & AwardsMar 12, 2026
MJSA ‘Future of Jewelry Making’ Scholarship Applications OpenThe MJSA Education Foundation’s scholarships support students pursuing jewelry careers.
TechnologyMar 11, 2026
Cast Jewelry’s Rachel Skelly on Coming Back Online Only Skelly shares her plans for reimagining the fine jewelry retailer she re-acquired after it faltered last year.
CollectionsMar 11, 2026
Pyrrha Highlights ‘The Space Between’ In New CollectionThe collection takes inspiration from the emotional space between people, moments, and experiences.
IndependentsMar 11, 2026
From the Jazz Age to the Information Age: London Jewelers Turns 100In 2026, the jewelry retailer is celebrating a milestone only a small percentage of family-owned businesses survive to see.
IndependentsMar 11, 2026
Virginia Jewelers Raise Nearly $30K for Children’s HospitalThe group of jewelers held a jewelry raffle in support of the Children’s Hospital of Richmond at VCU.
FinancialsMar 10, 2026
Signet Jewelers’ Q4 Sales Fall Flat The jewelry giant released preliminary results for the fourth quarter and full year on Monday, with final results slated to come next week.
MajorsMar 10, 2026
Saks Global to Close 15 More StoresThe retailer also gave an update on its vendor partnerships.
TrendsMar 10, 2026
Messika Names Julianne Moore as AmbassadorThe award-winning actress is the “epitome of modern allure,” the brand said.
CollectionsMar 10, 2026
Gemstones ‘Bloom’ in Sorellina’s New CollectionThe “Bloom” collection draws from the flower power movement of the 1960s and ‘70s with inlay pendants offered in eight colorways.
Events & AwardsMar 10, 2026
Diamond-Studded Painting Shines at RJO Foundation AuctionThe unique piece was one of the custom works offered at the foundation's recent silent art auction, which garnered nearly $15,000 in total.
TrendsMar 09, 2026
Jake Gyllenhaal Is Bulgari’s Latest AmbassadorBulgari named Gyllenhaal as its brand ambassador for his embodiment of artistic depth, intellectual curiosity, and warmth.
Events & AwardsMar 09, 2026
TJS Announces 2026 Scholarship WinnersAwards were given to four students, one apprentice, and an emerging jeweler.
GradingMar 06, 2026
Tom Moses Leaving GIA After Nearly 50 YearsMoses, who started at GIA’s Santa Monica lab in 1976, will leave the Gemological Institute of America in May.
Lab-GrownMar 06, 2026
Charles & Colvard Files for Bankruptcy, Citing Price PressuresIncreased competition, falling lab-grown diamond and moissanite prices, and the rising cost of gold took a toll on the moissanite maker.
CollectionsMar 06, 2026
Zome’s ‘Solara’ Earrings Embody Celestial BeautyThe earrings, our Piece of the Week, feature pink tourmalines as planets orbiting around an aquamarine center set in 18-karat rose gold.
MajorsMar 06, 2026
Pomellato’s 2026 IWD Campaign Spotlights Economic Abuse“The Price of Freedom” campaign video for International Women’s Day confronts the quiet violence of financial control.
Policies & IssuesMar 05, 2026
Tariffs to Increase to 15% This Week, Treasury Secretary Says Also, a federal judge has ordered that companies that paid tariffs implemented under the IEEPA are entitled to refunds.
