On June 16 in NY, Christie’s will continue its trend of highlighting important jewels by auctioning off some important jewels. This time they are jewels that once belonged to Margaret Adderley Kelly, of Kelly Services, a Fortune 500 company employing over 550,000 people worldwide.
The most important piece is the 21.71 carat Kashmir Sapphire, named after its owner, the “Kelly Sapphire”. This one is valued at a price between $1.5 million to $2 million, or $69k to $92k per carat.
The other sapphire offered at this auction is the 9.97 ct Kashmir Sapphire named “The Majestic Blue”. This one is valued at a price between $950,000 and $1.25 million, or $95.3k and $125.4k per carat
Kashmir sapphires are the most sought after from the many types of sapphires, due to the rich color and rarity. Another popular source of sapphires is Burma, and these sapphires fetch high prices as well. As with diamonds, gemstones from reputed mines gain a significant advantage due to the reputation of other gemstones that came from the same location, and because they are understood to be of higher quality due to the earth from which they were discovered. For this reason, diamonds and gemstones from famous mines can fetch very high prices at auction.
A 28.02 ct Fancy Intense Yellow with a VS2 clarity will be offered as well. This diamond is valued between $700k and $900k.
Another Fancy Intense Yellow will be available, a 13.32 ct with VVS2 and potentially IF clarity is valued at between $250k and $350k.
The last item on my list is a 1.68ct Fancy Purplish Pink pear shaped diamond with a 5.06 ct pear shape D color VVS1 clarity diamond together on a beautiful necklace. This necklace is valued between $280k and $350k.
How do you think these jewels will perform at Christie’s in NY? Are they overvalued or will they earn their predicted prices? Will the jewelry at Christie's in NY perform as well as it did in Hong Kong a week ago?