Previous month:
April 2015
Next month:
September 2015

3 posts from May 2015

A 25 Carat Ruby Is Now the World’s Most Expensive Colored Stone - JCK

 The auction market got a shot of adrenaline last night, as the Sotheby’s Geneva sale set a world record for any jewelry auction—and capped that with six more world records, almost all for colored stones.  

The auction fetched $160.9 million, or 149.9 CHF (Swiss francs). That tops the previous record holder, the Christie’s November auction in Geneva, which fetched 147.2 million CHF. (Sotheby’s briefly claimed the title for its $199 million November 2013 sale, but that didn’t stand after an $83.1 million pink diamond sale was canceled.)

The sale gives a nice boost to the Sotheby’s jewelry sales, which were down two percent in the first quarter of 2014, according to its 10-Q. 

The Sunrise Ruby-1The 25.59 ct. Burmese Sunrise Ruby sold for $30.3 million ($1.1 million a carat), doubling the low end of its $12 million to $18 million estimate. The stone set records for a ruby, both in total price and per-carat price; for any non-diamond jewel; and any stone by Cartier. The buyer was not named. 

The blood-red stone was a favorite of Sotheby’s worldwide jewelry chairman David Bennett, who said last month: “I have remained in awe of the Sunrise Ruby since the first moment I set eyes on it. In over 40 years, I cannot recall ever having seen another Burmese ruby of this exceptional size possessing such outstanding color.”

The Sunrise sale significantly tops the ruby record set just six months ago by the 8.62 ct. Graff Ruby, which sold for $8.6 million at Christie’s Geneva in November 2014.

Historic Pink Diamond-1The Historic Pink Diamond, an 8.72 ct. fancy vivid pink, achieved $15.9 million, which fell within its $14 million to $18 million estimate, and also went to an unnamed buyer. The diamond is believed by the Gemological Institute of America to have been part of the outstanding collection of Princess Mathilde of Bonaparte, Napoleon I’s niece. It only recently resurfaced, having been kept in a bank vault since the 1940s.

 

The other records were set for sapphires and pearls: 

- A pair of very fine Burmese sapphire and diamond ear clips with a combined weight of 32.67 cts. sold for $3.2 million, setting a world record price for a pair of Burmese sapphire earrings.

- A Kashmir sapphire and diamond brooch weighing 30.23 cts. sold for $6.1 million, setting a record for a Kashmir sapphire (the previous record was set in November).

- A rare natural pearl and diamond necklace sold for $7 million, setting a record for a two-row natural pearl necklace.

 


Jewelers Mutual Insurance Company Expands Coverage

NEW! Expanded Coverage for Personal Jewelry Policies.

Since 1913, Jewelers Mutual Insurance Company has been the company that jewelers trust to protect their jewelry business, and it's with confidence that they mention Jewelers Mutual to their customers for their personal jewelry as well. In addition to worldwide protection against loss, theft, damage and mysterious disappearance, Jewelers Mutual's personal jewelry insurance policy now includes coverage for additional preventive repair to help policyholders avoid a larger, more painful jewelry loss. Expanding the types of damage our policy covers helps bridge the gap between what a typical retailer warranty or service plan may include and what our repair and replacement coverage provides.

Jewelers Mutual's expanded coverage for personal jewelry includes the following six repairs:

  • Prong retipping
  • Repair of broken, worn or bent prongs
  • Clasp replacement
  • Restringing of broken or stretched pearls
  • Stone tightening
  • Repair of broken earring posts

Perfect Circle logo

For insuring your valuable jewelry items, we highly recommend Jewelers Mutual Insurance Company.

For a free, no-obligation quote go to www.jewelersmutualinfo.com where you can enter our Jeweler Code A00108 and get estimated annual premiums based on the retail replacement value of your items, the deductible for each item, and the location of the person who will wear the jewelry.

Their website is a great resource for:

* Jewelry Evaluations and Appraisals
* Jewelry Cleaning & Care
* Policy Questions
* Insurance Application
* Payment Methods
* Claims Process
* General Information about Jewelry Insurance