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 & IssuesFeb 20, 2026
Supreme Court Rules Against Most of President Trump’s TariffsIn a 6-3 ruling, the court said the president exceeded his authority when imposing sweeping tariffs under IEEPA.
ColumnistsFeb 20, 2026
Peter Smith: Happiness, Cavemen, and Jewelry SalesSmith encourages salespeople to ask customers questions that elicit the release of oxytocin, the brain’s “feel-good” chemical.
MajorsFeb 20, 2026
Jewelers Vigilance Committee Names Julie Yoakum Board ChairJVC also announced the election of five new board members.
Brought to you by
The MJSA Mentor & Apprenticeship Program: Attracting & Training the Next Generation of Bench JewelersLaunched in 2023, the program will help the passing of knowledge between generations and alleviate the shortage of bench jewelers.
CollectionsFeb 20, 2026
Boucheron’s ‘Faisceaux’ Brooch Heads to V&A MuseumThe brooch, our Piece of the Week, shows the chromatic spectrum through a holographic coating on rock crystal.
Weekly QuizFeb 19, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
IndependentsFeb 19, 2026
Bailey’s Fine Jewelry Co-Founder ‘Mama Ann’ Bailey Dies at 100Raised in an orphanage, Bailey was 18 when she met her husband, Clyde. They opened their North Carolina jewelry store in 1948.
IndependentsFeb 19, 2026
Material Good Opens Third Location Material Good is celebrating its 10th anniversary as it opens its new store in the Back Bay neighborhood of Boston.
Brought to you by
How Jewelers Can Fight Back Against Cell JammersCriminals are using cell jammers to disable alarms, but new technology like JamAlert™ can stop them.
Events & AwardsFeb 19, 2026
The Original Miami Beach Antique Show Returns in MarchThe show will be held March 26-30 at the Miami Beach Convention Center.
PodcastsFeb 18, 2026
Episode 2: Jewelry Trends & Does the Red Carpet Matter?Are arm bands poised to make a comeback? Has red-carpet jewelry become boring? Find out on the second episode of the “My Next Question” podcast.
MajorsFeb 18, 2026
Select Jewelry Inks Agreement to Distribute Lightweight Gold JewelryIt will lead distribution in North America for Graziella Braccialini's new gold pieces, which it said are 50 percent lighter.
Policies & IssuesFeb 18, 2026
Community for Ethical Jewelry Looks for Executive DirectorThe organization is seeking a new executive director to lead it into its next phase of strategic growth and industry influence.
Events & AwardsFeb 18, 2026
DCA to Host Gemstone Selling Education Session at IJO EventThe nonprofit will present a live, two-hour introductory course on building confidence when selling colored gemstones.
TrendsFeb 17, 2026
A Bit of Jewelry for the Year of the HorseWestern wear continues to trend in the Year of the Fire Horse and along with it, horse and horseshoe motifs in jewelry.
SourcingFeb 17, 2026
Colored Gemstone Experts Talk Tariffs, Trends in TucsonAlthough the market is robust, tariffs and precious metal prices are impacting the industry, Stuart Robertson and Brecken Branstrator said.
GradingFeb 17, 2026
Dr. George Rossman, Former GIA Governor, Dies at 81Rossman, who advised GIA for more than 50 years, is remembered for his passion and dedication to the field of gemology.
CrimeFeb 13, 2026
JSA Offering $10K Reward in Nancy Guthrie Case Guthrie, the mother of “Today” show host Savannah Guthrie, was abducted just as the Tucson gem shows were starting.
IndependentsFeb 13, 2026
97-Year-Old New Mexico Jewelry Store To CloseButterfield Jewelers in Albuquerque, New Mexico, is preparing to close as members of the Butterfield family head into retirement.
CollectionsFeb 13, 2026
A ‘Rosebud’ Necklace for Valentine’s DayPaul Morelli’s “Rosebud” necklace, our Piece of the Week, uses 18-karat rose, green, and white gold to turn the symbol of love into jewelry.
MajorsFeb 13, 2026
JFC Announces New BeneficiariesThe nonprofit has welcomed four new grantees for 2026.
MajorsFeb 12, 2026
These 8 Saks Fifth Avenue Stores Are ClosingParent company Saks Global is also closing nearly all Saks Off 5th locations, a Neiman Marcus store, and 14 personal styling suites.
CollectionsFeb 12, 2026
British Museum Raises $5M to Keep Jewel Linked to Henry VIII, Katherine of AragonIt is believed the 24-karat heart-shaped enameled pendant was made for an event marking the betrothal of Princess Mary in 1518.
SourcingFeb 12, 2026
‘Cotton Candy’ Necklace, 35-Carat Kunzite Win 2025 ‘Buyer’s Choice’ AwardsThe AGTA Spectrum and Cutting Edge “Buyer’s Choice” award winners were announced at the Spectrum Awards Gala last week.
Events & AwardsFeb 12, 2026
Kering Opens Entries for 2026 Sustainability-Focused AwardThe “Kering Generation Award x Jewelry” returns for its second year with “Second Chance, First Choice” as its theme.
TrendsFeb 11, 2026
Halle Berry’s Retro Engagement Ring Is a Sapphire-Set StunnerSourced by For Future Reference Vintage, the yellow gold ring has a round center stone surrounded by step-cut sapphires.
MajorsFeb 11, 2026
Francesca’s Files for Chapter 11 Bankruptcy AgainThe clothing and accessories chain announced last month it would be closing all of its stores.
CollectionsFeb 11, 2026
Zales Turns Sweethearts Into Jewelry for Valentine’s Day CollectionThe “Zales x Sweethearts” collection features three mystery heart charms engraved with classic sayings seen on the Valentine’s Day candies.
