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
IndependentsJul 14, 2026
Foundrae Opens First Standalone Store Outside USThe New York-based jewelry brand has expanded overseas, opening a store in London’s Mayfair district.
ColumnistsJul 14, 2026
Sherry Smith: What Today’s Jewelry Consumer Is Telling Us Rising revenue does not automatically mean a healthy business, particularly in the current economic landscape, Smith writes.
TrendsJul 14, 2026
Amanda’s Style File: Shoulder Dusters These long, fluid drop earrings are sure to catch the eye.
Brought to you by
Wedding Band Trends 2026: Personalization Takes Center StageColored gemstones, artisan finishes, mixed metals, and meaningful details are shaping demand in bridal jewelry.
CrimeJul 14, 2026
Man Charged in $1M Jewelry Store Heist Lands on FBI Most Wanted ListAlberto Perez-Elias is one of four men charged with robbing a Cape Coral, Florida, jewelry store and is the only one still at large.
Weekly QuizJul 09, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Events & AwardsJul 14, 2026
Conference on Mining, Sustainability Kicks Off in NYCInitiatives in Art and Culture is hosting its 16th annual Gold and Diamond Conference, with the theme of “Resilience.”
Lab-GrownJul 13, 2026
Stephanie Gottlieb Changes Her Mind on Lab-Grown DiamondsThe designer, who once said she’d never sell lab-grown diamonds, debuted two capsule collections designed to be fun and easy to wear.
Brought to you by
Building the Future of Jewelry Retail: DCA Expands Education, Leadership Development, and Workforce SolutionsDCA is preparing the next generation of professionals by supporting workforce development, leadership growth, and career advancement.
SourcingJul 13, 2026
De Beers Announces Potential Layoffs, 2-Year Production Pause at VenetiaThe diamond miner and marketer is undergoing another round of cost-cutting measures ahead of its sale by Anglo American.
Events & AwardsJul 13, 2026
Registration Opens for JIS Fall 2026 ShowThe annual trade-only buying event is slated for Oct. 16-19 in Miami Beach, Florida.
Events & AwardsJul 13, 2026
AGTA Accepting Entries for Spectrum 2026AGTA also has announced the lineup of judges for the colored gemstone cutting and jewelry design contest’s various categories.
TechnologyJul 10, 2026
There’s a New Blind Box for Luxury Watches Collectibles platform Arena Club’s new Time Boxes could contain a Rolex or Patek Philippe watch.
TrendsJul 10, 2026
Jade Trau Creates a Constellation of DiamondsThe “Constellation Plié” collar, our Piece of the Week, features diamonds arranged in a constellation of shining stars.
SourcingJul 10, 2026
CFO of De Beers’ Consumer-Facing Division Leaves Company Shaun Wills joined the company in 2024 and was chief financial officer of the De Beers Brands and Consumer Markets division.
WatchesJul 10, 2026
Brilliant Earth Expands Into WatchesIn honor of its 20th anniversary, the jewelry brand has released a limited-edition collection of Swiss-made timepieces.
CollectionsJul 09, 2026
Boucheron’s New High Jewelry Collection Is an Ode to the Human Touch“Human Being” highlights the similarities and differences between us through five sets of jewelry that celebrate fine craftsmanship.
WatchesJul 09, 2026
Damiani Group Finalizes Acquisition of Baume & MercierRichemont will continue to provide operational services for the watch brand for a period while the group prepares to integrate it.
Events & AwardsJul 09, 2026
Halstead Names 2026 Grant WinnerEnoch Platero, founder and designer behind Enoch Michael, is the first Native American jeweler to win the award.
Events & AwardsJul 09, 2026
AGS, GIA Name 2026 Beatrice Shipley Scholarship WinnerAGS also announced the recipient of its “Women in Leadership” scholarship.
MajorsJul 08, 2026
Kendra Scott Joins ‘Shark Tank’ As Permanent Investor The founder of the billion-dollar jewelry and lifestyle brand will debut as a full-time “Shark” on the upcoming season of the show.
SurveysJul 08, 2026
Signet Jewelers Falls 5 Spots on NRF’s ‘Top 100’ Retailers ListPlus, why retailers should be ready to adjust as the U.S. population may decline this year for the first time since the Great Depression.
CrimeJul 08, 2026
Here’s What Thieves Stole From the Lalique Museum René Lalique’s “Woman Dragonfly With Open Wings” pendant, the first piece the museum acquired, was one of the jewels taken.
MajorsJul 08, 2026
Richline Group Promotes 2 ExecsArien Gessner and Moss Makhoulian have been elevated into newly created roles.
ColumnistsJul 07, 2026
Peter Smith: Diamond Branding and the Origin ParadoxA podcast prompted Smith to share his views on where origin fits into the natural diamond story and the viability of branded diamonds.
Events & AwardsJul 07, 2026
JA Announces 2026 Impact Initiative RecipientsThe association selected eight recipients for the funding program, which is in its second year.
TrendsJul 07, 2026
Amanda’s Style File: Ruby, White and Blue Whether celebrating America’s 250th birthday or the USA’s World Cup run, July birthstone jewelry can double as a patriotic accessory.
CrimeJul 07, 2026
Thieves Steal Millions in Jewels From France’s Musée LaliqueAround 20 pieces of jewelry were stolen from the museum dedicated to French jeweler and glassmaker René Lalique.
