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.

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.

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.
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.

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.

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

As demand for custom jewelry grows, the company is expanding its services to support retailers.

The mid-year conference for jewelry and watch appraisers is slated for Aug. 9 to 10 on Zoom.

Graduated stones make for elevated tennis-style pieces and dramatic statement necklaces.

As a leading global jewelry supplier, Rio Grande is rapidly expanding and developing new solutions to meet the needs of jewelers worldwide.

Nominations in the categories of Jewelry Design, Media Excellence, and Retail Innovation will be accepted through July 30.


He retired last month after 28 years traveling the world to source the very best gemstones for his family’s jewelry business, Oscar Heyman.

The charm necklace features six nautical charms of shells and coral that founder Christina Puchi collected on Florida’s beaches.

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

The organization elected its youngest vice president as it looks to draw in fresh talent.

Campbell joins the company as vice president of business development while Liebler is the new vice president of operations.

The medals feature a split-texture design highlighting the Games’ first time being hosted by two cities and the athletes’ journeys.

Sponsored by The INSTORE Jewelry Show 2025

Globally, travel and transportation brands reigned, while in the U.S., alcoholic beverage companies and a lingerie brand took the top spots.

The Brooklyn-based jewelry designer is remembered as a true artist and a rare talent.

Production at the mine in Canada’s Northwest Territories topped 1 million carats in Q2, the third consecutive quarter of growth.

A new slate of Learning Workshops will take place in Oklahoma, Mississippi, and Georgia.

The middle class is changing its approach to buying jewelry and affordable luxury goods, the NRF said.

It marks the third consecutive quarter of growth for Cartier, Van Cleef & Arpels, Buccellati, and Vhernier.

The reseller’s market trends report, based on its sales data, also shows exactly how much Rolex prices have jumped since 2010.

Jake Duneier and Danielle Duneier-Goldberg have stepped into the roles of CEO and president, respectively.

The “Impermanence” collection contemplates nature through the Japanese art of Ikebana (flower arranging) and philosophy of wabi-sabi.

The Texas-based jewelry retailer has set up shop in Tennessee and Arizona.

Eric Ford will step into the role, bringing with him decades of experience.

In addition to improved capabilities, the acquisition will allow the jeweler to offer support to other independent jewelers.

The “Celestial Blue” capsule collection campaign features Olympian Kateryna Sadurska.

The seasonal store, located in Mykonos, Greece, offers exclusive events, personal styling, and curated experiences.

The New England jeweler is hosting a bridal event for the month of August.