One of the largest sapphires in recent auction history has achieved in a fittingly enormous sum.
The whopping 118.5-carat “royal blue” gem, which is the centerpiece of a magnificent diamond necklace by Bulgari, sold for $3.4 million at Phillips Hong Kong on Tuesday, May 23.
Hailing from a private collection, the bling was expected to fetch between $3.2 million and $4.5 million at the auction house’s Jewels & Jadeite sale. It didn’t quite reach the high estimate, but the final hammer price is still quite impressive. More impressive still is the fact that this is one of the biggest sapphires to reach auction in the past three decades.
The Italian jeweler crafted the cushion-shaped sapphire in 2004. The Gübelin Gem Lab awarded the stone an “exceptional” color grade due to its even saturation, which is rarely seen in unheated blue sapphires of its size. The blue beauty hangs from an equally striking necklace that sees tapered baguette diamonds elegantly connected by pear-shaped diamonds at points. The arrangement of the ice evokes the classic Bulgari designs of the 1930s and ’50s.
