Kashmir Sapphire Exceeds Expectations to sell for £175,000 at Fellows
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A large sapphire ring sold at Fellows Auctioneers on Thursday last week for three times its initial estimate. Entered to auction for £60,000 – 80,000, the ring by Boucheron drew a lot of attention from
bidders, eventually hammering at £175,000.
Before the auction, potential bidders from across the globe attended viewings in Birmingham and London to inspect the piece in person. This interest translated into bids. 5 telephone bidders booked in prior to the lot opening and others participated in the auction online from all over the world. The auction itself was very popular among bidders with over 800 people registered for bidding in the sale.
Bidding bounced from telephone lines to bidders on the Fellows website for over 9 minutes. The lot
opened at £50,000 with the auctioneer offering bids at £1,000 increments. The bidders battled it out
over the phone and via the Fellows Live bidding platform; the auction house team and other bidders
watched on with excitement as the hammer finally fell at £175,000.
Offered as lot 405 in Fellows’ October Fine Jewellery auction, the sapphire and diamond ring by
Boucheron realised a total price of £218,500 including Buyer’s Premium.
The ring was made by the Parisian watch and jewellery house, Boucheron in the 1960s. A brand
which has been known for its luxurious offerings for over 165 years, the quality of the mount
complimented the important gemstone at its centre. The sapphire was surrounded by over two
carats of diamonds and set in platinum.
The principal stone, a bright blue sapphire, was a large gemstone at 6.76cts. The auction house
provided a certificate along with the ring showing the origin location as “Kashmir”, with no heat
treatment. The lack of treatment means that its qualities were naturally occurring, without any human intervention. Kashmir is, due to geopolitical factors, and when considering its natural features, a fairly inaccessible area. This has led to a scarcity of the gemstones for which the area is renowned, meaning their rareness is reflected in the prices they command. Sapphires mined in this region are celebrated for their deep cornflower blue and velvety appearance.
Fellows are now consigning for their Fine Jewellery auction at the end of November. The auction
house is predicting a lively auction given the proximity to Christmas.