AuctionsDec 17, 2024
Blue Diamond Fetches $8.8M at Christie’sAuctionsDec 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.
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.
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.
A pair of earrings featuring a 7.69-carat and a 7.38-carat alexandrite sold for $1.2 million against a high-end estimate of $300,000 following a four-minute bidding war.
A 40.52-carat oval-shaped alexandrite (est. $150,000 - 350,000) that sold to an online bidder for $216,000.
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.
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.
A 7-carat emerald-cut fancy intense purplish pink diamond
A 3.32-carat marquise-shaped fancy grayish blue diamond that sold above estimate for $720,000
A 5.02-carat fancy orangy pink diamond and diamond ring that sold to an online bidder for $684,000, slightly above its pre-sale estimate
This group of 10 emerald- and square emerald-cut Kashmir sapphires weighing between 1.55 and 3.55 carats sold for $912,000, with six bidders vying for the set.
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.
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.
Miller’s Graff necklace featuring all D-color diamonds
Miller’s custom 21.46-carat diamond ring by Graff features an old emerald-cut diamond that exemplifies her love of bold, statement jewelry, Sotheby’s said.
The jewelry Miller collected, including the Hemmerle earclips pictured here, reflected her daring spirit, confidence and individuality.
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’ 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.
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.”
More on Auctions
The Latest
SourcingOct 08, 2025
In ‘Storied Diamond,’ Jared Jewelers Is Emphasizing the Journey The retailer’s new collection of engagement rings and fashion jewelry is set with natural diamonds that are traceable via blockchain.
CollectionsOct 08, 2025
Emily P. Wheeler Shifts Into Neutral for Latest ‘Ombré’ CollectionThe champagne colorway in her newest “Ombré” collection combines white and trendy brown diamonds, a departure from her usual vibrant hues.
CollectionsOct 08, 2025
Tsuba Designs Inspire Monica Rich Kosann’s New CharmsKosann partnered with the Museum of Fine Arts, Boston, to create a set of necklaces inspired by the artwork on samurai sword handguards.
Brought to you by
JA New York Fall Is Right Around the CornerThe upcoming show provides savvy retailers with the opportunity to stock their cases with best sellers in advance of the holiday season.
CrimeOct 07, 2025
Men Who Posed as Utility Workers Found Guilty in Jeweler’s MurderCarlos Jose Hernandez and Joshua Zuazo face life in prison for the October 2024 murder of 72-year-old Detroit-area jeweler Hussein Murray.
Weekly QuizOct 02, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CollectionsOct 07, 2025
Jessica McCormack Looks to Sea Spirits for ‘Tempest’ CollectionThe brand’s first high jewelry collection, “Tempest” plays with movement while calling to mind the folklore of the sea.
SourcingOct 07, 2025
Columbia Gem House Announces ‘Opals for Outback Heroes’ FundraiserProceeds from its jewelry raffle will go to a volunteer-run fire and rescue group in the Lightning Ridge area of New South Wales, Australia.
MajorsOct 07, 2025
Stuller Names Its S.E.R.V.E Stars for 2025Stuller said the recipients embody the company’s core values, which include community participation and personal and professional growth.
WatchesOct 06, 2025
This Fall, Citizen’s Forecast Calls for RainCitizen’s new “Rainell” women’s watch has a raindrop-shaped case and is available with a silver-, gold-, purple-, or green-colored dial.
GradingOct 06, 2025
GIA India Names Former De Beers Exec as New Managing DirectorAmit Pratihari was previously the managing director of De Beers India and Forevermark India.
SourcingOct 06, 2025
SoCal 24 Karat Club Integrates Into Diamond Club West CoastMembers of the Jewelers 24 Karat Club of Southern California will gain access to expanded services, resources, and connections, DCWC said.
TrendsOct 03, 2025
Selena Gomez, Benny Blanco Tie the Knot Wearing Diamonds, White MetalsGomez’s jewelry included Tiffany & Co. drop-style earrings while Blanco stacked diamonds from Jacob & Co. on his wrist.
GradingOct 03, 2025
Grading Lab HRD Antwerp Names New CEODiamond industry banking veteran Paul De Wachter will take on the role in January 2026.
TrendsOct 03, 2025
Piece of the Week: Kallati’s Pink Sapphire RingTaylor Swift flaunts an Elizabeth Taylor-esque gemstone in promo for her new album, “The Life of a Showgirl.”
CollectionsOct 02, 2025
Boucheron Debuts Cuffs Crafted With 3D-Printed SandIts “Quantre Sand” capsule was made using a 3D sand printing technique borrowed from the automotive and aeronautics industries.
CrimeOct 02, 2025
$1M in Jewelry Stolen in Northern California Smash and Grab Four individuals have been charged in the “takeover-style” robbery of Heller Jewelers last month, and additional charges are expected.
MajorsOct 02, 2025
Neil Lane Jewelry Exhibition Coming to Toledo Museum of Art“Radiance and Reverie” will showcase more than 150 jewels from Lane’s personal collection by Tiffany & Co., Cartier, and more.
TrendsOct 02, 2025
Amanda’s Style File: October’s Colorful ShowThe month’s birthstones, tourmaline and opal, complement the palette of autumn.
ColumnistsOct 01, 2025
Peter Smith: Why Vendor Success Starts With Self-ReflectionSmith shares the importance of looking at your company with openness and honesty to identify opportunities you may be missing.
EditorsOct 01, 2025
Playing Favorites: The Best Jewelry From VicenzaoroAssociate Editor Natalie Francisco visited Italy to spot jewelry trends at the September Vicenzaoro show and share her top finds.
SurveysOct 01, 2025
Consumer Confidence Hits 5-Month Low in September Respondents were concerned about job availability and rising prices.
SourcingOct 01, 2025
Gemfields’ H1 Revenue Falls 47%Its latest interim financials revealed a challenging first half due in part to production troubles at its mines.
MajorsSep 30, 2025
Pandora CEO to Retire in 2026, Hand Reins to CMO Alexander Lacik has led Pandora since 2019. Berta de Pablos-Barbier will succeed him, the first woman to head the company.
CrimeSep 30, 2025
2 Suspects Charged in $300K Sleight-of-Hand Jewelry Store ScamTwo men allegedly used counterfeit bills to purchase luxury watches and jewelry from a North Carolina jeweler.
CollectionsSep 30, 2025
Billie Eilish, Finneas Partner with John HardyThe “Lovestruck” collection, designed with the Academy and Grammy award-winning siblings, is the brand’s first lab-grown diamond offering.
IndependentsSep 30, 2025
Spinelli Kilcollin Announces Residency in DallasThe brand, celebrating its 15th anniversary, has popped up at Market, a luxury fashion destination in Highland Park Village.
