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
MajorsOct 23, 2026
PGI USA Set to Close at Year’s EndThe closure is part of a global restructuring that also includes PGI winding down its operations in Japan, South Korea, and Hong Kong.
SourcingOct 23, 2026
Rachel Chalchinsky’s ‘Survivor Tribute’ RingThe ring, our Piece of the Week, was designed by eight-year breast cancer survivor Rachel Chalchinsky of Color Source Gems.
TechnologyOct 23, 2026
JA Unveils New Website, LogoThe website offers enhanced member benefit access, industry directories, educational resources, a job board, and access to the MJSA Journal.
Brought to you by
A Diamond Is Forever Launches 2026 Holiday Campaign Championing Natural DiamondsA Diamond Is Forever's holiday campaign reimagines natural diamond icons for a new generation celebrating individuality.
FinancialsOct 23, 2026
Kering’s Jewelry Sales Up Double Digits in Q3Boucheron and Pomellato had a strong third quarter, with Kering looking at jewelry as an increasingly important part of its portfolio.
Weekly QuizOct 22, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CrimeOct 22, 2026
Jeweler Shot and Killed in His Suburban Cincinnati Store Tara Sinchuri was the owner of Everest Jewels in Fairfield, Ohio, and a father of three. He was found dead in his store on Tuesday.
MajorsOct 22, 2026
Neiman Marcus Has Gifts for the Jewelry Lover Who Has EverythingBespoke experiences from Buccellati and Verdura are on the retailer’s 2026 “Fantasy Gifts” list.
Brought to you by
Open an Account, Get $50 Off Your First Order. No Code Needed.Built on Relationships. Refined by Craft.
Events & AwardsOct 22, 2026
JIS Fall 2026 Reports Record-Breaking Attendance The number of participants at the fall show was up 12 percent.
CollectionsOct 22, 2026
Billie Eilish, Finneas Co-Design Collection for John HardyThe Academy and Grammy award-winning siblings have collaborated with John Hardy on a new jewelry line inspired by their personal style.
PodcastsOct 21, 2026
Episode 10: This Episode Is Haunted Diana Singer shared the stories of two “cursed” diamonds on this month’s podcast, which was inexplicably riddled with technical issues.
IndependentsOct 21, 2026
Gardner-Collier Jewelry to Close After 9 Decades in BusinessThe family-owned jeweler has three locations across Missouri and Iowa.
SourcingOct 21, 2026
Venetia Mines Final Carats Ahead of 2-Year ShutdownThe De Beers-owned diamond mine in South Africa is being put on ice as part of a round of previously announced cost-cutting measures.
CollectionsOct 21, 2026
Helzberg, Nordstrom Carrying New Jewelry Collection From Off-WhiteThe collection centers designs with clean geometric lines, chunky sculptural pieces, and recognizable details from the luxury fashion brand.
SourcingOct 21, 2026
Gemfields’ Mixed-Quality Ruby Auction Earns $52MThe miner said it saw particularly strong prices for larger, fine-quality rubies at the sale.
CrimeOct 20, 2026
Security Guard Charged With Murder in Shooting at Texas MallThe guard opened fire on a man who was smashing a jewelry display case at La Gran Plaza in Fort Worth last week, police said.
IndependentsOct 20, 2026
David Gardner’s Jewelers Unveils Newly Expanded, Revamped ShowroomThe Texas jeweler added 2,000 square feet to its reimagined showroom, complete with a new design studio and an event space.
SourcingOct 20, 2026
The $50M Victoria’s Secret ‘Fantasy Bra’ By The NumbersJacob & Co.'s diamond masterpiece is the most expensive Fantasy Bra ever worn on the Victoria’s Secret Fashion Show runway.
CollectionsOct 20, 2026
Mignon Faget’s Collection Chooses Handmade Over AIThe “Atelier” collection was inspired by the tools, rituals, and objects in an artist’s studio as a quiet rebuttal to an automated world.
MajorsOct 19, 2026
The Knot to Acquire Rival Wedding Planning Platform ZolaThe pending acquisition is an “exciting opportunity” for wedding vendors to grow their business, said The Knot Worldwide’s CEO.
SourcingOct 19, 2026
Jewelry Design Competition Show Airs in Thailand"The Secret Gems" features eight Thai jewelry brands paired with a team of young craftspeople who create jewelry together to win challenges.
CollectionsOct 19, 2026
John Hardy Enters the Medallion Chat With Talisman Collection The brand’s “Modern Talisman” capsule collection introduces pendants inspired by the mythology, natural world, and spiritual ethos of Bali.
IndependentsOct 19, 2026
The Stories of 5 Jewelers Celebrating Their Centennials in 2026Independent jewelers from New Mexico to New Jersey answer the question: What has kept your store in business for 100 years?
SurveysOct 16, 2026
How Inflation, Gas Prices Will Affect Holiday Sales The NRF is expecting holiday sales to increase this year, but consumers and retailers alike are facing Grinch-like headwinds.
CollectionsOct 16, 2026
Christina Puchi’s Earrings Hold the UniverseOur Piece of the Week gathers the planets, represented by a variety of colored gemstones, in a pair of 14-karat yellow gold earrings.
IndependentsOct 16, 2026
Reeds Jewelers Expands, Relocates FlagshipThe New York-based jeweler is moving its Amherst flagship store to a larger location in nearby Snyder.
MajorsOct 16, 2026
Katy Chen Appointed Executive Vice President of Graff USA Chen, who worked at Cartier and Tiffany & Co., will lead retail sales and operations for the luxury jeweler’s 11 U.S. stores.
