Policies & IssuesJan 22, 2025
Jewelers Mutual Steps Up Aid for LA Jewelry BusinessesThe company also is matching donations made to Jewelers of America and the Diamond Council of America’s Jewelers Relief Fund.
AuctionsJun 30, 2016
‘Sunrise Ruby’ lights up the auction world
The pigeon’s blood red stone sold for $30.3 million, helping make Sotheby’s May 12 sale the highest-grossing jewelry auction in history.
Geneva--A ring set with a 25.59-carat Burmese ruby set three world auction records Tuesday when it sold for $30.3 million to an anonymous buyer at Sotheby’s Geneva.
The Sunrise Ruby initially was slated to sell for between $12-$18 million but bidding soared to $30.3 million, shattering the existing ruby auction record held by the $8.6 million sale of the “Graff Ruby.
Called the “Sunrise Ruby,” the untreated pigeon’s blood ruby not only set a new world auction record for price paid for a ruby, but new records for price paid per carat for a ruby and price paid for a jewel by Cartier.
The high price of the gem contributed to Sotheby’s May 12 sale of Magnificent and Noble Jewels achieving the highest-ever total for any jewelry auction at $160.9 million, dethroning Christie’s November 2014 sale of Magnificent Jewels in Geneva, which totaled $150.2 million.
In addition to the Sunrise Ruby’s records, an additional three world auction records were set on Tuesday for lots included in the sale’s top 10.
Also performing well but not meeting pre-sale expectations was the “Historic Pink,” an 8.72-carat fancy vivid pink diamond that sold for $15.9 million, below its pre-sale high estimate of $18 million.
The diamond, believed at one time to have been part of the collection of Princess Mathilde, the niece of Napoleon Bonaparte, is of VS2 clarity and is a non-modified cushion-cut diamond.
“(The) record result is the reflection of outstanding quality of the pieces in the sale across the board,” said David Bennett, worldwide chairman of Sotheby’s international jewelry division.
“The galleries have been brimming with collectors during our worldwide exhibitions, and this translated into lively bidding throughout the sale … with truly global demand for the finest diamonds, gemstones and signed pieces of the very highest order.”
A complete list of the auction’s results can be found on Sothebys.com.
More on Auctions
The Latest
SurveysJan 22, 2025
Holiday Sales Hit Record High, Says NRFCore retail sales during the 2024 holiday season surpassed the National Retail Federation’s forecast.
ColumnistsJan 22, 2025
On Data: How Did Independent Jewelers Fare in 2024? Sherry Smith shares data on the year gone by, including the breakdown between natural and lab-grown diamond sales.
Brought to you by
3 New Year’s Resolutions for Jewelry Lovers The new year feels like a clean slate, inspiring reflection, hope, and the motivation to become better versions of ourselves.
CollectionsJan 22, 2025
Foundrae’s New Collection Channels the Power of NowThe “Reach for Life” collection uses feather and arrow motifs to invite growth and inner curiosity.
Weekly QuizJan 16, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Events & AwardsJan 22, 2025
JA Seeking Nominations for Its Next ‘20 Under 40’ ClassNow in its fourth year, the program is expanding to include a list of “20 Under 40” for jewelry suppliers.
ColumnistsJan 21, 2025
Peter Smith: Sales Training’s Dirty Little SecretPeter Smith pulls back the curtain on the often misinterpreted, and sometimes maligned, world of sales training.
Brought to you by
A Diamond Is Forever Celebrates "Forever Present" Holiday CampaignA Diamond is Forever hosted a holiday celebration in honor of their new marketing campaign, ‘Forever Present.’
TrendsJan 21, 2025
Amanda’s Style File: Decadent Mocha MoussePantone’s 2025 Color of the Year takes the form of jewelry through gemstones and enamel that look just as delicious as mocha mousse.
Policies & IssuesJan 21, 2025
These Designers and Retailers Are Raising Money for LA Wildfire Relief From raffles to auctions to donations, the industry is working to aid charities in Los Angeles amid the raging wildfires.
SourcingJan 21, 2025
Diamonds Do Good Adds 2 Board MembersJulia Hackman Chafé and Monica Elias have joined the organization’s board of directors.
FinancialsJan 17, 2025
Richemont’s Jewelry Sales Rise 14% in Holiday QuarterThe company, which owns Cartier and Van Cleef & Arpels, had a record Q3, with sales topping $6 billion.
CollectionsJan 17, 2025
Piece of the Week: Picchiotti’s Transformable ‘Classic Blue and Green’ NecklaceThe necklace features a sapphire drop weighing more than 9 carats that detaches to transform into a ring.
MajorsJan 17, 2025
Tiffany & Co., CFDA Name First Winner of Jewelry Designer AwardJameel Mohammed, founder of Afrofuturist brand Khiry, will receive a cash prize and a one-year paid fellowship with Tiffany & Co.
IndependentsJan 16, 2025
Lux Bond & Green to Open Sixth LocationThe 127-year-old jeweler is planning to open a new store in Mystic, Connecticut.
WatchesJan 16, 2025
Timex Launches Collection of National Park WatchesThe watches’ dials feature artwork celebrating the vibrant energy and unique landscapes of six of America’s national parks.
Events & AwardsJan 16, 2025
JCK Las Vegas 2025 Open for RegistrationThe jewelry trade show returns to The Venetian Expo and The Venetian Resort in Las Vegas from June 6 to 9.
EditorsJan 15, 2025
The Jewelry I’d Bid On in Christie’s Iris Apfel AuctionAssociate Editor Natalie Francisco highlights her favorite fashion jewelry pieces from the upcoming “Unapologetically Iris” auction.
MajorsJan 15, 2025
Macy’s to Close 66 Stores as Part of Turnaround StrategyThe closures are part of the retailer’s plan to close 150 locations over a three-year period.
Policies & IssuesJan 15, 2025
JVC Debuts Guide to Americans with Disabilities Act ComplianceThe online guide is available for free and written with the jewelry industry in mind.
Events & AwardsJan 15, 2025
Jose Hess Design Awards Open for SubmissionsThe awards honor the late Jose Hess, a founding member of AJDC and an award-winning jewelry designer.
GradingJan 14, 2025
GIA CEO, President Susan Jacques to Retire at the End of 2025The grading lab said the search for her successor is underway.
ColumnistsJan 14, 2025
Jules Kim: Building Bridges Between Creators and IndustryIn this special op-ed, designer Jules Kim calls on big brands to collaborate with independent creators instead of copying their designs.
GradingJan 14, 2025
Former SSEF Director Henry A. Hänni DiesA pioneering figure in gemology, he is remembered for his spirit of generosity, curiosity, and joy.
FinancialsJan 14, 2025
Signet Jewelers Lowers Q4 Guidance After Holiday Sales Fall ShortThe peak selling days leading up to Christmas did not meet the jewelry retailer’s expectations.
MajorsJan 14, 2025
Edouard Schneider Joins Messika as Chief Brand OfficerSchneider brings over 20 years of luxury and fashion industry experience to his role as a key member of the brand’s global leadership team.
SourcingJan 13, 2025
Zambia Reinstates 15% Export Duty on Precious Gemstones, Shocking GemfieldsGemfields said the Zambian government revoked the 2019 suspension of the tax with no warning.
