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
WatchesOct 29, 2026
Bucherer Opens Rolex Boutique in Washington StateThe Rolex-owned retailer’s new 4,700-square-foot store’s façade honors the Pacific Northwest’s evergreen forests.
TrendsOct 29, 2026
Amanda's Style File: All Treats, No Tricks Get into the Halloween spirit with this roundup of 13 spooky jewels.
MajorsOct 29, 2026
Gesswein Hires Longtime Bench Jeweler, Educator Ann CahoonCahoon was appointed strategic account and educational program manager at Gesswein, which recently joined Continental Buying Group.
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.
MajorsOct 29, 2026
Amanda Seyfried Stars In Tiffany & Co.’s Holiday CampaignTiffany & Co.’s latest ambassador makes her debut in its “Love Is a Gift” holiday campaign.
Weekly QuizOct 29, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
EditorsOct 28, 2026
These Wicked Jewels Will Cast a Spell on YouFor her annual Halloween story, Senior Editor Lenore Fedow highlights bewitching jewels fit for a witch that go from day to unholy night.
CrimeOct 28, 2026
Man In Florida Who Swallowed Tiffany & Co. Earrings ConvictedJaythan Gilder was found guilty of robbery and grand theft after stealing and then ingesting nearly $800,000 worth of Tiffany & Co. jewelry.
Brought to you by
Open an Account, Get $50 Off Your First Order. No Code Needed.Built on Relationships. Refined by Craft.
SurveysOct 28, 2026
Consumer Confidence Up in October as Gas Prices EaseConsumer confidence remains on the long-term downward trend that’s persisted over the past few years, said a Conference Board economist.
MajorsOct 28, 2026
Stuller’s Holiday Campaign Lets the ‘Magic of the Moment’ ShineThe holiday campaign includes key jewelry trends, a curated holiday gift guide, and resources to help jewelers prepare for holiday shoppers.
SourcingOct 27, 2026
De Beers Celebrates the Holidays With New ‘Desert Diamonds’ CampaignThe “Icons” holiday campaign spotlights four classic diamond jewelry styles reimagined in “Desert Diamond” tones.
IndependentsOct 27, 2026
Solomon Brothers Acquires Mervis Diamond ImportersSolomon Brothers, which has three stores in the Metro Atlanta area, said it may continue to acquire other independent jewelers.
IndependentsOct 27, 2026
Gabriel & Co. Supports Charity Partner DKMS With Gala, New JewelsThe fine jewelry brand raised $2.3 million at its annual gala that supports the nonprofit’s fight against blood cancer and blood disorders.
Events & AwardsOct 27, 2026
JFC Announces 2027 ‘Facets’ HonoreesThe annual fundraising event is slated for June 6, 2027, at The Venetian Resort in Las Vegas.
CollectionsOct 26, 2026
Bliss Lau’s ‘Vantage’ Point Is the Hawaiian HorizonIn her “Vantage” collection, Lau explores heritage, identity, and inner strength through designs featuring blue-green Guatemalan jade.
MajorsOct 26, 2026
Tiffany & Co. Takes Consumers Behind the ScenesThe jeweler gave the public backstage tours of its flagship store and its design and innovation workshop as part of LVMH’s open house.
Events & AwardsOct 26, 2026
Support JFC’s ‘Monster Mash Challenge,’ If You DareVote for which jewelry professional should dress up as a monster to support Jewelers for Children’s annual Halloween fundraiser.
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.
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.
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.
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.
