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.

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.
The Latest

Rocksbox President Allison Vigil shared the retailer’s expansion plans, and her thoughts on opening stores in malls.

The creator of the WJA Chicago chapter is remembered as a champion for women in the jewelry industry and a loving grandmother.

The decline was consistent across age groups and almost all income groups, with tariffs and inflation still top of mind.

The Seymour & Evelyn Holtzman Bench Scholarship from Jewelers of America returns for a second year.

The “Playlist: Electric Dreams” collection brings lyrics from the musician’s song, “Little Wing,” to life through fine jewelry.


The event is set for May 16-19 in Detroit, Michigan.

The Vault’s Katherine Jetter is accusing the retailer of using info she shared for a potential partnership to move into Nantucket.

The countdown is on for the JCK Las Vegas Show and JA is pulling out all the stops.

Agents seized 2,193 pieces, a mix of counterfeit Cartier “Love” and “Juste Un Clou” bracelets, and Van Cleef & Arpels’ “Alhambra” design.

The designer brought her children’s book, “The Big Splash Circus,” to life through a collection of playful fine jewelry characters.

The trade association has chosen the recipients of the funding initiative it formed to foster the growth and sustainability of the industry.

The organization has also announced this year’s slate of judges.

Associate Editor Natalie Francisco shares 20 additional pieces that stood out to her at the Couture show.

Lori Tucker started at Williams Jewelers when she was 18 years old.

The “Marvel | Citizen Zenshin” watch is crafted in Super Titanium and has subtle nods to all four “Fantastic Four” superheroes on the dial.

The “XO Tacori” collection was designed to blend luxury and accessible pricing.

Pritesh Patel, the lab’s chief operating officer, will take over as president and CEO of GIA.

National Jeweler and Jewelers of America discuss the standout jewelry trends and biggest news to emerge from the shows this year.

Signatories to the “Luanda Accord” committed to allocating 1 percent of annual diamond revenue to the Natural Diamond Council.

The winning designs captured the “Radiance” theme.

Nominations in the categories of Jewelry Design, Media Excellence, and Retail Innovation will be accepted through July 30.

The singer’s ring ticks off many bridal trends, with a thick band, half-bezel setting, and solitaire diamond.

The bracelet references vintage high jewelry and snake symbolism as a playful piece where a python’s head becomes a working belt buckle.

The heist happened in Lebec, California, in 2022 when a Brinks truck was transporting goods from one show in California to another.

The Starboard Cruises SVP discusses who is shopping for jewelry on ships, how much they’re spending, and why brands should get on board.

To mark the milestone, the brand is introducing new non-bridal fine jewelry designs for the first time in two decades.

The gemstone is the third most valuable ruby to come out of the Montepuez mine, Gemfields said.