CollectionsMay 19, 2023
Piece of the Week: Marie Lichtenberg’s ‘Check’ LocketAuctionsMay 26, 2023
Piece of the Week: A Bulgari Sapphire and Diamond Necklace
Set with a 118-carat unheated Sri Lankan sapphire, it just sold for $3.4 million at Phillips jewelry auction in Hong Kong.
This circa 2004 Bulgari necklace set with a 118.35-carat sapphire sold for $3.4 million at Phillips May 23 jewelry auction in Hong Kong. The sapphire is unheated, of Sri Lankan origin and graded as “exceptional” by Gübelin Gem Lab.
It’s been a good month for blue Bulgari gems sold at jewelry auctions.
A buyer paid $25.2 million for the “Bulgari Laguna Blu,” an 11.16-carat fancy vivid blue diamond, during “Luxury Week” at Sotheby’s Geneva, held May 12-16.
Then, earlier this week, a Bulgari necklace featuring a 118.35-carat unheated Sri Lankan sapphire went for $3.4 million at Phillips Hong Kong.
The sale price fell at the low end of the piece’s pre-sale estimated range ($3 million to $4.5 million) but was enough to make it the top lot of the jewelry auction, accounting for nearly half of the sale’s total.
According to Phillips, Bulgari created the diamond and sapphire piece for its high jewelry collection in 2004 after acquiring the sapphire.
It remained in a private collection until coming to Phillips for auction this spring.
A buyer paid $25.2 million for the “Bulgari Laguna Blu,” an 11.16-carat fancy vivid blue diamond, during “Luxury Week” at Sotheby’s Geneva, held May 12-16.
Then, earlier this week, a Bulgari necklace featuring a 118.35-carat unheated Sri Lankan sapphire went for $3.4 million at Phillips Hong Kong.
The sale price fell at the low end of the piece’s pre-sale estimated range ($3 million to $4.5 million) but was enough to make it the top lot of the jewelry auction, accounting for nearly half of the sale’s total.
According to Phillips, Bulgari created the diamond and sapphire piece for its high jewelry collection in 2004 after acquiring the sapphire.
It remained in a private collection until coming to Phillips for auction this spring.
In a 2023 report, Gübelin Gem Lab gave the gemstone 98 out of 100 Gübelin points, a ranking that designates the stone as “exceptional” in the lab’s terms. The lab graded the sapphire’s color as “Royal Blue” because of its even saturation.
The auction house said it is one of the largest sapphires offered at auction in the past 30 years.
Phillips’ “Jewels & Jadeite” spring auction in Hong Kong totaled $7.5 million. It was sold 93 percent by lot and 91 percent by value.
Full results are available on the Phillips website.
More on Auctions
The Latest
Policies & IssuesOct 06, 2026
6 Charged in Connection to String of New Jersey Smash-and-GrabsThe alleged thieves used crow bars and sledgehammers to smash into jewelry stores across the state.
ColumnistsOct 06, 2026
Sherry Smith: Is the Consumer Really Trading Up?Ahead of the holidays, Smith urges jewelers to take a hard look at who’s buying jewelry, what they’re purchasing, and who’s stopped buying.
SourcingOct 06, 2026
DDG Taps Influencers for ‘My Diamond Does Good’ CampaignIn the new consumer-facing campaign, four fashion and lifestyle creators share the stories behind their natural diamond pieces.
Brought to you by
Meet Gemology’s Next Generation Microscope: GIA® Gemolite® NXT Professional EditionExperience gemstones with greater precision and comfort than ever before.
MajorsOct 06, 2026
Frederick Goldman Names COO, CMOFGI President John Orrico is also leaving the company after more than 13 years.
Weekly QuizOct 01, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Events & AwardsOct 06, 2026
JIS Fall Returns to MiamiThe 2026 edition will feature presentations on alternative materials and design trends, as well as pop-up activations on the show floor.
SourcingOct 05, 2026
De Beers to Take Full Ownership of Gahcho KuéIt is the last fully operational diamond mine in Canada following the recent closures of Ekati and Diavik.
Brought to you by
Your Piece Could Be the One Editors Talk AboutSubmit your pieces for a chance to win in this year's competition.
CollectionsOct 05, 2026
Sorellina Writes Another Love Letter for ‘Postscript’ CollectionThe fine jewelry brand has expanded the collection that debuted at Couture with four new designs based on its most popular styles.
SourcingOct 05, 2026
Bruce Bridges Joins CIBJO BoardThe AGTA president was elected for a two-year term on the board of directors.
SourcingOct 02, 2026
De Beers, National Geographic Society Renew Okavango Eternal Partnership The partnership, a pledge to protect Africa’s Okavango River Basin, has been extended for an additional five years.
MajorsOct 02, 2026
Pandora Opens New $150M Manufacturing Facility in VietnamThe new facility, its first outside of Thailand, will boost its manufacturing capacity by 50 percent.
TrendsOct 02, 2026
Hearts On Fire Celebrates 30th Anniversary With Heart PendantThe special-edition “Dream” pendant, our Piece of the Week, was created to mark Hearts On Fire’s 30-year milestone with 30 diamonds.
CrimeOct 01, 2026
Police Looking for 4 Suspects in $600K Smash-and-Grab RobberyDubai Jewelers in Springfield, Virginia, was once again the target of an armed robbery.
SurveysOct 01, 2026
Rolex Ranks Among Most Recommended Brands in US, Survey Says YouGov’s 2026 U.S. Most Recommended Brands report’s out, and a fast-fashion giant is sitting at No. 1 while Rolex is just shy of the top 5.
SourcingOct 01, 2026
Columbia Gem House Opens ‘Cutting Toward Change’ FundraiserProceeds from its jewelry raffle will benefit an organization working in India to combat silicosis, a lung disease affecting stone cutters.
TrendsOct 01, 2026
Carolina Hurricanes’ Championship Ring Reveals Hidden Hockey Puck PendantThe rings, crafted by Jason of Beverly Hills, celebrate the hockey team’s Stanley Cup win with design elements that honor its traditions.
TrendsOct 01, 2026
Amanda’s Style File: October’s Color Range This roundup of birthstone jewelry for October features vibrant tourmalines and opals with personality.
SourcingSep 30, 2026
Botswana’s President, De Beers CEO Say Diamond Demand Is RecoveringPresident Duma Boko spoke at back-to-back events in the city last week, touting Botswana’s stability and the diamond “bounceback.”
CollectionsSep 30, 2026
Oscar Heyman’s Holiday Book Is ‘A Living Archive’ The catalog showcases 112 new, one-of-a-kind pieces amid highlights from the jeweler’s historic archive.
SourcingSep 30, 2026
Gemfields Posts $98.5M Loss, Writes Down Value of Ruby MineIts Montepuez Ruby Mining operation in Mozambique, which is not yielding enough high-quality rubies, has taken a $125 million hit.
SurveysSep 30, 2026
Consumer Confidence Falls to 12-Year Low in SeptemberThose surveyed were worried about the present and the future, with write-in responses mentioning high oil and gas prices.
Events & AwardsSep 30, 2026
Jewelers of America, JA New York to Host Networking EventThe event will take place on the evening of Oct. 26 in New York City.
IndependentsSep 29, 2026
Christy Bromberg, Longtime Gift Buyer for Underwood Jewelers, Dies at 68She is remembered for her joie de vivre, upbeat personality, genuine interest in other people, and love of the Alabama Crimson Tide.
Events & AwardsSep 29, 2026
Matt Stuller to Receive 2027 Gem Award for Lifetime AchievementThe founder and executive chairman of Stuller Inc. is being honored for his impact on the jewelry industry at the 25th annual Gem Awards.
ColumnistsSep 29, 2026
Your Holiday Marketing Has a Bridal Blind SpotDecember is the most popular month to propose, and jewelers need to keep that in mind when planning their holiday marketing.
AuctionsSep 29, 2026
If You Love Cats, This Jewelry Auction Is for YouCat ladies of the jewelry world, unite. Sandy Lerner’s collection of cat jewelry and other objects is going up for auction Wednesday.
