94-Carat Paraíba Tourmaline Withdrawn From Sotheby’s Auction
“The Blue Lagoon” was expected to sell for as much as $2.7 million at the Magnificent Jewels and Noble Jewels sale in Geneva.
Sometime before its highly anticipated sale, the 94-carat Paraíba tourmaline known as “The Blue Lagoon” was withdrawn from the sale.
The stone was set to be the largest top-quality Paraíba tourmaline ever to come to auction, according to Sotheby’s.
It was estimated to sell for 1.3 million-2.5 million CHF, or $1.4 million-$2.7 million.
“‘The Blue Lagoon’ is an exceptional stone; however, the lot was withdrawn prior to the sale following discussions with the consignor,” Sotheby’s told National Jeweler Wednesday.
The auction house did not elaborate on the decision.
Despite the absence of The Blue Lagoon, Sotheby’s Magnificent Jewels and Noble Jewels sale went on to garner 41.8 million CHF ($46.5 million), within its estimate range of 37.9-58.1 million CHF ($42.1 million-$64.6 million).
“Sapphires from Sri Lanka soared well past expectations, bringing many multiples of their pre-sale estimates, while white diamond solitaire rings performed particularly well, solidifying their position as the cornerstone of the industry,” said Catharine Becket, Sotheby’s head of Magnificent Jewels, Geneva.
“For those with an eye for design, it was clear that high-impact jewels from the 1980s in particular, are very much in the air du temps, with Italian firms Bulgari and Marina B grabbing the spotlight.”
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