$6.7 Million 'Jewel of Kashmir' Set Auction Records, had nothing to do with Kashmir

Written by  Published by:Pakistan Views Friday, 09 October 2015 18:35

The Jewel of Kashmir, a 27.68-carat Kashmir sapphire and diamond ring, set a world auction record for the price per carat for a Kashmir sapphire at Sotheby’s Hong Kong Magnificent Jewels and Jadeite Autumn Sale.

Described as having a “cornflower blue” hue, the emerald-shaped gem was the top lot at Wednesday’s auction, selling for more than $6.7 million or $242,145 per carat.

The second highest lot in the auction, The Cowdray Pearls, sold for more than $5.2 million, a world auction record for a natural grey pearl necklace.

The necklace is composed of 42 graduated natural grey pearls measuring approximately 12.90 to 6.65mm, completed by a clasp set with a rectangular mixed-cut diamond, mounted in platinum, with maker’s mark JC. The necklace is accompanied by a pair of earrings, each set with a button-shaped natural grey pearl surrounded by single- and brilliant-cut diamonds, signed Cartier London.

The Jewel of Kashmir

PHOTO: The Jewel of Kashmir

Another item of note was the sale of the historically significant “Dowager Viscountess Harcourt Necklace” to Tiffany & Co for more than $1.5 million. The necklace incorporates diamonds from the French Crown Jewels, purchased by the American luxury jeweler at auction in 1887, which it later sold.

The Cowdray Pearls

The necklace is set with 28 graduated old mine-cut diamonds together weighing approximately 65 carats, each surmounted by a pair of collet-set diamonds on a wire mounting, suspending from a necklace of scalloped links set with similarly-cut diamonds.

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