Kashmir Sapphire Ring Doubles Estimate at Auction

Kashmir Sapphire RingIt’s real, it’s spectacular – it sold for more than half a million dollars in a frenzied bidding war at Heritage Auctions’ April 30th sale.

The ring features a cushion-cut, 8.99 carat Kashmir sapphire center stone flanked by two triangular cut colorless diamonds of 1.30 carats each, set in a platinum band. Pre-sale estimates for the ring ranged from $250,000 to $350,000; it sold for $527,500 to an anonymous bidder. The sapphire is certified by the American Gemological Laboratories (AGL) as being completely untreated and verified the stone’s origin from the region of Kashmir, where the most prized sapphires are found.

Kashmir sapphires are so highly valued because the best specimens have a superb cornflower blue color and a unique quality (due to rutile inclusions) that mimics the appearance of blue velvet. Some of the best Ceylon and Burmese sapphires come close, but Kashmir sapphires continue to hold their place as the most desirable in the sapphire world. New sapphires are rarely discovered in Kashmir now, as most of the material that exists was uncovered more than 100 years ago. Their extreme rarity, paired with exceptional quality gives these stones a nearly mythical reputation.

For other exceptional jewels, visit Secret Sapphire in Vancouver, where our in-house gemologist and jeweler can help you custom design your own special piece. Sapphires and other gemstones are becoming an increasingly more popular choice for engagement rings, as the center stone or as accents. Call 604 558 3638 to book an appointment.