AuctionsMay 01, 2023
NY Times Examines Nazi Ties to Heidi Horten Fortune Ahead of Jewelry Auction AuctionsMay 02, 2023
118-Carat Sapphire Is the Star of Phillips’ Hong Kong Sale
Set in a necklace by Bulgari, it will hit the auction block later this month.
This Bulgari necklace set with a 118.35-carat unheated Sri Lankan sapphire will headline Phillips Hong Kong’s “Jewels & Jadeite” sale. The auction house expects it to sell for between $3 million and $4.5 million.
Hong Kong—A necklace by Bulgari set with a 118.35-carat sapphire will lead Phillips Hong Kong’s “Jewels & Jadeite” sale later this month.
Bulgari created the sapphire and diamond necklace in 2004.
Gübelin graded the unheated, cushion-shaped Sri Lankan sapphire as “Royal Blue,” with the stone receiving 98 out of 100 possible points for the highest grade of “exceptional.”
The sapphire’s even saturation is exceedingly rare in such a large, unheated sapphire, Phillips explained.
Bulgari is renowned for its colored gemstones creations, but even for those accustomed to the Italian jewelry house’s high jewelry creations, this sapphire stands out.
Here, model Fiona McLeish is wearing the Bulgari necklace featuring the 118.35-carat unheated Royal Blue Sri Lankan sapphire.
Bulgari Creative Director and Gems Buying Executive Director Lucia Silvestri remembers when Bulgari first acquired the stone more than 20 years ago.
“I was so impressed and touched that I still remember the emotion I felt,” she said.
Phillips noted that unlike many Bulgari high jewelry works that combine different colored gems, this necklace lets the sapphire be the focus, accented only with white diamonds and white metal in a style reminiscent of the house’s works from the 1950s.
“This one-of-a-kind necklace’s clean and sleek lines, elegant geometry, and the unusual horizontal setting of the 118.35-carat Sri Lankan sapphire are all elements that afford it a timeless, modern appeal,” noted Phillips Worldwide Head of Jewelry Benoît Repellin.
“Unique in its size, color and origin, the stone embodies the transparency and luminosity pursued by Bulgari for its high jewelry creations. This jewel is a holy grail for any collector, with a classic and elegant design typical of Bulgari that emphasizes the beauty and extraordinariness of the gem.”
The Bulgari necklace is expected to fetch between $3 million and $4.5 million.
Other sale highlights include an exceptionally rare 2.02-carat fancy green-blue diamond set in a diamond ring that transforms into a pendant, seen above.
It’s estimated to sell for $300,000-$450,000.
Continuing the blue gem trend is the above 6.26-carat unheated Kashmir sapphire set into a Schlumberger for Tiffany & Co. ring.
The ring is accented with diamonds that are meant to resemble bees buzzing around the center stone.
The piece is expected to fetch between $260,000 and $360,000.
For the Burmese ruby lover, a classic three-stone ring, seen above, features a 5.01-carat Burmese ruby flanked by diamonds.
It’s expected to sell for $244,000-$359,000.
Yellow diamonds also make a sale appearance, most notably in a pair of earrings.
The above pair of fancy intense yellow diamonds weighing 7.05 carats and 7.28 carats are adorned with white diamonds in earrings that are expected to sell for between $170,000 and $230,000.
Joining the assortment of signed jewels is an iconic “Zip” necklace by Van Cleef & Arpels, below.
The design was first executed in 1950, after being imagined more than a decade prior. Today, Zip necklaces still require between 400 and 1,200 hours to complete, depending on their specific materials.
This edition is crafted in pink gold and adorned with pink sapphires and diamonds. Its pre-sale estimate is $150,000-$250,000.
Phillips’ Hong Kong Jewels & Jadeite sale is scheduled to take place May 23 at Phillips’ new Asia headquarters in Hong Kong’s West Kowloon Cultural District.
More on Auctions
The Latest
FinancialsSep 02, 2025
Lab-Grown Diamonds, Lower-Priced Fashion Jewelry Drive Signet Jewelers’ Q2 SalesThe retailer has raised its guidance after seeing total sales increase 3 percent in the second quarter, beating expectations.
MajorsSep 02, 2025
Birks CEO Jean-Christophe Bédos Steps DownNiccolò Rossi di Montelera, executive chairman of the board, was appointed as interim CEO.
MajorsSep 02, 2025
Harry Winston Opens Its Largest Flagship in JapanThe three-floor space also features the jeweler’s largest VIP salon in Japan and offers an exclusive diamond pendant.
Brought to you by
Rallying Call for the Jewelry Industry on Tariffs and Other Key IssuesJewelers of America is leading the charge to protect the industry amidst rising economic threats.
CollectionsSep 02, 2025
Stephanie Gottlieb Debuts Silver Designs in ‘All Hours’ CollabThe collection is a collaboration between Stephanie Gottlieb Fine Jewelry and Oak and Luna, focusing on understated essentials.
Weekly QuizAug 29, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
FinancialsAug 29, 2025
Movado’s Q2 Sales Rebound Despite Tariff ImpactCEO Efraim Grinberg noted a resurgence in the fashion watch market.
CollectionsAug 29, 2025
Piece of the Week: Mark Davis’ ‘Bullseye’ Necklace The “Bullseye” necklace, with vintage bakelite and peridot, August’s birthstone, is the perfect transitional piece as summer turns to fall.
Brought to you by
Taking the Moment Head On: How Rio Grande Champions the Present & Future of Fine JewelryAs a leading global jewelry supplier, Rio Grande is rapidly expanding and developing new solutions to meet the needs of jewelers worldwide.
Supplier BulletinAug 28, 2025
Clientbook Is Helping Jewelers Turn Clienteling Challenges into Wins with Hands-On Training and CoachingSponsored by Clientbook
GradingAug 28, 2025
GIA’s New ‘Quality Assessment’ for Lab-Grown Diamonds Is Coming It will classify lab-grown stones into one of two categories, “premium” or “standard,” in lieu of giving specific color and clarity grades.
SourcingAug 28, 2025
Botswana Declares Public Health Emergency Amid Diamond Sales SlumpPresident Duma Boko addressed the country’s medical supply chain crisis in a recent televised address.
MajorsAug 28, 2025
Borsheims Names New Jewelry BuyerFormer Free People buyer Afton Robertson-Kanne recently joined the retailer.
IndependentsAug 28, 2025
Sissy’s Log Cabin Donates School Supplies to Memphis StudentsThe jeweler teamed up with two local organizations for its inaugural “Back to School and Bling” event.
EditorsAug 27, 2025
Taylor Swift’s Engagement Ring Is a Fairy Tale for Vintage Diamond CutsThe singer’s new bling, reportedly a natural old mine-cut diamond, is no paper ring.
SourcingAug 27, 2025
11,685-Carat Emerald Recovered From Zambia’s Kagem MineDubbed the “Imboo,” or “buffalo,” emerald, the rough gemstone is part of Gemfields’ latest emerald auction, which is taking place now.
SurveysAug 27, 2025
Consumer Confidence Slips in August Amid Job, Income WorriesPlans for dining out, booking vacations, and buying big-ticket items were down.
CollectionsAug 27, 2025
Mined + Found’s New Collection Gets Playful The “Play” collection centers on nostalgic toys that have kinetic elements to carry playfulness and wonder into adulthood.
CollectionsAug 26, 2025
Does Your Jewelry Stack Need a Snack?Designer Christina Puchi, the creative force behind CCWW Designs, has created charms and pendants based on iconic candies and crackers.
WatchesAug 26, 2025
Nick Jonas Gets Nostalgic in New Fossil CampaignThe Jonas Brothers star showed off new timepieces against the backdrop of his favorite spots in his home state of New Jersey.
IndependentsAug 26, 2025
Hinkamp Jewelers Celebrates 70 YearsThe family-owned jeweler in Fayetteville, North Carolina, is in the hands of the second generation.
ColumnistsAug 26, 2025
Back to School, Back to Style: Why August is Prime Time for Self-GiftingIn his latest column, Emmanuel Raheb shares tips for encouraging customers to treat themselves to new jewelry.
WatchesAug 25, 2025
London Jewelers Brings Rolex to Historic Hamptons HomeThe new stand-alone Rolex boutique is housed in the former Odd Fellows Hall, a landmark built in 1897.
CollectionsAug 25, 2025
Tennis Star Madison Keys Has the Perfect Necklace for the US OpenThe Brilliant Earth ambassador co-designed a diamond medallion featuring meaningful symbols.
TrendsAug 25, 2025
Amanda’s Style File: That’s a WrapWrap jewelry is more than just a trend; it’s the perfect motif for the coming season of layering, scarves, and pumpkin spice.
WatchesAug 25, 2025
WatchTime NY Show Returns for 10th Anniversary EditionThe three-day watch collector show, coming this October, will feature 44 exhibiting brands, as well as a new dinner experience.
GradingAug 22, 2025
Former Head of GIA India Promoted to Oversee Global Operations Sriram “Ram” Natarajan is now GIA’s senior vice president of laboratory operations and is based out of the lab’s headquarters in Carlsbad.
CollectionsAug 22, 2025
Piece of the Week: Retrouvaí’s ‘Diamond Vein Bond’ CollarThe one-of-a-kind collar represents the beauty of imperfection and the strength to rebuild.
