Auctions

Alexandrite Ring Sells for Record-Setting $1.9M at Sotheby’s

AuctionsDec 18, 2024

Alexandrite Ring Sells for Record-Setting $1.9M at Sotheby’s

The nearly 17-carat stone made history for the color-change gem that, according to the auction house, is experiencing a “notable surge” in the market.

alexandrite ring
This ring featuring a 16.53-carat alexandrite sold for $1.9 million at Sotheby’s on Dec. 11.
New York—A piece of alexandrite jewelry made history at Sotheby’s recent Magnificent Jewels auction. 

A ring set with a 16.53-carat oval-shaped alexandrite sold to a buyer on the phone for $1.9 million, more than three times its high-end estimate of $600,000. 

It set a record for any alexandrite sold at auction, said Sotheby’s, noting that the gemstone, remarkable for its color-change phenomenon, is experiencing a “notable surge” in the market.   

The piece was one of three alexandrite lots on offer, a group described by the auction house as being of “the finest gem quality.” They achieved a combined total of $3.3 million. 


Anna Ruzhnikov, a Sotheby’s specialist and head of Magnificent Jewels, said the stones are the finest and largest alexandrites the house has ever encountered. 

“The 16.53-carat ring, in particular, is a truly exquisite gem, and its record-breaking price is a well-deserved reflection of its exceptional quality,” she said.

“It’s incredibly exciting to witness alexandrites reaching such remarkable new heights in the market and equally thrilling to see the growing recognition among collectors, who are now embracing these gemstones as not only rare and beautiful but on par with the legendary sapphires, emeralds, and rubies in terms of desirability and value.”

The Magnificent Jewels auction, which took place in New York on Dec. 11, achieved $30 million, with 92 percent of the lots offered finding buyers. 

A ring featuring a 10.33-carat untreated Burmese ruby that Sotheby’s called “exceptional and immeasurably rare,” was the auction’s top lot.

Burmese ruby ring
This 10-carat Burmese ruby ring was the star lot of Magnificent Jewels.


It sold for $5.5 million after a six-minute bidding battle between two bidders on the phone and one in the room, exceeding its pre-sale estimate of $1 million-$2 million.  

In lots featured colored diamonds, a 7-carat fancy intense purplish pink diamond inspired a four-minute bidding war.  

In the end, it sold within its estimate for $3.4 million, making it the auction’s second highest-grossing lot. 


Also at Magnificent Jewels, Sotheby’s offered a selection of jewels that belonged to beauty entrepreneur and philanthropist Sydell Miller, who died in February

The auction house said the offering captured the attention of international private collectors.  

All 22 pieces in “A Legacy of Beauty: The Collection of Sydell Miller” found buyers, totaling $6 million. 

 Related stories will be right here … 
 
Miller and her husband created two dominant beauty brands, Ardell and Matrix Essentials. 

She was a pioneering leader in the beauty industry who, Sotheby’s said, exemplified the power of self-determination and creativity that influenced her approach to collecting jewelry. 

Her Graff diamond necklace featuring a detachable 18-carat pear-shaped diamond drop sold above its estimate for $1.8 million.  


A 21.46-carat diamond ring by Graff, the result of years of collaboration with the jeweler to find the right stone, sold for $1.8 million following a nine-bidder chase, the most of any lot in the sale.

An artistic pair of cultured pearl and diamond earclips by Hemmerle also inspired a bidding war, and after a prolonged battle between three phone bidders and two online bidders, the set sold for $96,000, against an estimate of $30,000 to $50,000.

In addition to Miller’s jewels, Sotheby’s also sold pieces from the collection of New York socialite Millicent Rogers, the granddaughter of H.H. Rogers, who co-founded the Standard Oil Trust with John D. Rockefeller.

Millicent Rogers Rene Boivin brooch
Millicent Rogers’ ruby and diamond brooch by René Boivin consigned directly from her family


A pair of her ruby and sapphire earclips by Suzanne Belperron realized $50,400, soaring above the pre-sale estimate of $8,000 to $12,000, while a René Boivin brooch sold for $456,000, against a high estimate of $120,000.

The auction house said the sales demonstrate continued demand for pieces from the great style icons of the 20th century

Also notable, a rare pair of earclips by Salvador Dalí that once belonged to Andy Warhol sold slightly above estimate for $84,000.

Salvador Dalí ruby earclips Andy Warhol
These earclips by Dalí featuring asymmetrical hearts bordered by clustered round rubies have been exhibited in museums around the world including in Barcelona, Stockholm, Rotterdam, and London. They match a brooch of the same style that also sold at the jewelry auction.


Hundreds registered to participate in Magnificent Jewels, with participants hailing from more than 35 countries.  

Of the lots offered, 70 percent sold above their pre-sale estimates and nearly half sold online. 

“Following the success of recent sales in Paris and Geneva this fall, we are incredibly proud of today’s strong results, which further underscore the market’s growing confidence and sets a promising tone for our sales in the year ahead,” said Quig Bruning, head of Sotheby’s Jewels, Americas & EMEA. 

“The enthusiasm from international collectors translated into strong bidding across the board in clear recognition of the rare and world-class pieces we offered, including the remarkable ruby, as well as the thriving white diamond market.” 

The Latest

Cast Issa Rae
MajorsJul 01, 2025
Cast Closes Business, Plans for Relaunch

The jewelry company has closed its three California brick-and-mortar stores, as well as its online shop, for now.

Eve Goldberg, Matthew Denatale, Willie Lopez, Benjamin Goldberg
Events & AwardsJul 01, 2025
William Goldberg Diamonds, FIT Partner for Apprenticeship Program

The company is providing the opportunity for an FIT student to work alongside master diamond cutter Willie Lopez in its workshop.

Elie Hannoush
IndependentsJul 01, 2025
Elie Hannoush, Founder of Hannoush Jewelers, Dies at 73

He is remembered for his successful entrepreneurship, generosity, and dedication to his family.

an instructor and a student in a bench jewelry classroom
Brought to you by
Investing in the Next Generation of Bench Jewelers

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

Claire’s store
MajorsJul 01, 2025
Claire’s Is Looking for a Buyer, Report Says

The jewelry store chain has reportedly been struggling with costs related to tariffs as well as tough retail competition.

Weekly QuizJun 26, 2025
This Week’s Quiz
Test your jewelry news knowledge by answering these questions.
Take the Quiz
Mindi Mond Spike Earrings
TrendsJul 01, 2025
Amanda’s Style File: Red Hot Rubies

Welcome warm summer days with red hot rubies perfectly chosen as July’s birthstone.

The Story of Everything Campaign, Toadstool Mushroom and Cosmic Egg
CollectionsJun 30, 2025
State Property’s New Jewelry Tells ‘The Story of Everything’

Co-founders Afzal Imram and Lin Ruiyin brought their son’s story of a cosmic egg, toadstool, and railroad to life in their new collection.

Jewelers of America logo with meetup, State of the Majors, giveaway and massages
Brought to you by
Jewelers of America is Headed to Las Vegas for JCK 2025

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

Smart Age Solutions CEO Emmanuel Raheb
ColumnistsJun 30, 2025
The Smart Lab: Why Q3 Is the Secret Weapon For Holiday Jewelry Sales

The best time to prepare for the holiday season is right now, according to columnist Emmanuel Raheb.

Morgan Keefe
Events & AwardsJun 30, 2025
AGA Names Recipient of 2025 Gemological Education Scholarship

This year’s winner is Morgan Keefe, who is currently studying at GIA to be a gemologist.

The Jewelry Book
IndependentsJun 30, 2025
Melanie Grant’s New Book Explores 200 Years of Jewelry

“The Jewelry Book” comes out this September.

Gemist
TechnologyJun 27, 2025
Gemist Raises $6M in Funding to Scale Jewelry Tech Platform

The company is focused on modernizing the custom jewelry buying experience with e-commerce tools like product visualization and 3D styling.

Jeff Preolo, David Stout, Levi Higgs, David Benavides
IndependentsJun 27, 2025
David Webb Announces New Hires, Promotions

Following its recent acquisition, the storied brand has updated its leadership team and regional managers.

Blake Graham and Jessica Kohoutek
Events & AwardsJun 27, 2025
AGS, GIA Announce Beatrice Shipley Scholarship Winner

AGS also named the recipient of its “Women in Leadership” scholarship.

Buddha Mama Monstera Ring
CollectionsJun 27, 2025
Piece of the Week: Buddha Mama’s ‘Monstera’ Wrap Ring

The 20-karat yellow gold and diamond wrap ring is modeled after the Monstera plants in the garden of the brand’s Miami villa.

Cashier handing Rocksbox bag to customer
MajorsJun 26, 2025
Why Rocksbox Is Opening Stores As Signet Jewelers Downsizes

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

Penny Ruston
IndependentsJun 26, 2025
Penny Ruston Dies at 80

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

Stock image of woman shopping
SurveysJun 26, 2025
After Recovering in May, Consumer Confidence Dips in June

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

Sorellina Playlist: Electric Dreams Campaign
CollectionsJun 26, 2025
Jam Out With Sorellina’s Jimi Hendrix-Inspired Jewels

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

The Jewelry Symposium event
Events & AwardsJun 26, 2025
The Jewelry Symposium Is Looking for Speakers for 2026 Event

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

Exterior of Marissa Collections’ new store in Nantucket, Massachusetts
IndependentsJun 25, 2025
Marissa Collections Opens in Nantucket as Legal Fight Continues

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

Counterfeit Cartier “Juste Un Clou” bracelet
CrimeJun 25, 2025
Customs Nabs Another Big Shipment of Fake Cartier, Van Cleef Jewelry

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

Karine Choudhrie Big Splash Circus Starfish and Lantern Fish
CollectionsJun 25, 2025
Splash into Karina Choudhrie’s Collection of Underwater Circus Performers

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

Jewelers of America
Events & AwardsJun 25, 2025
JA Announces Impact Initiative Fund Recipients

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

John Dyer Montana Sun Sapphire
SourcingJun 25, 2025
2025 AGTA Spectrum Awards Open for Entries

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

Khepri Jewels Luna collection fancy color fringe multi-shape drop diamond earrings
EditorsJun 24, 2025
The Best New Jewelry from Couture 2025, Part 2

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

Lori Tucker
IndependentsJun 24, 2025
Colorado Bench Jeweler Celebrates 50 Years With Local Retailer

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

×

This site uses cookies to give you the best online experience. By continuing to use & browse this site, we assume you agree to our Privacy Policy