NEW YORK, May 16: A diamond-platinum ring with a stunning 8.99 carat Kashmir sapphire sold for 2.86 crore rupees at an auction in New York, United States, more than double of its pre-sale estimate.
The cushion-shaped sapphire measuring 13.66 x 12.41 x 6.27 mm and described by Heritage Auctions as a breathtaking stone with no evidence of heat treatment was the centrepiece of the recent Rs. 21 crore Jewelry Signature sale.
“This amazing sapphire was certainly the highlight of the auction,” said Jill Burgum, director of Jewelry Auctions at Heritage.
“It more than doubled its pre-auction estimate and was the chief indicator of the fierce competition we saw on many coloured diamonds and gemstones in the auction.”
According to the auction house, the spirited bidding on the large Kashmir sapphire was closely matched by the impressive contest for a dramatic Colombian emerald, diamond, platinum ring, which tripled its pre-auction estimate of Rs. 53 lakhs.
