A Burmese ruby ring made almost seven times its pre-sale estimate of £30,000 to sell for a hammer of £200,000 in London auctioneers Elmwood’s recent Important Jewels sale.
The 14.67 carat natural Burmese ruby ring was an extraordinarily rare example, with natural rubies over 5 carats considered rare.
The ring was set with a cushion-cut ruby encircled by a border of marquise and baguette-cut diamonds in ballerina style and was accompanied by two gemmological reports, confirming it was of Burmese (Myanmar) origin, with no indications of heat treatment, meaning it was natural and unheated.
Elsewhere in the sale, other exceptional rubies included a Bulgari Trombino ring, one of Bulgari’s longest standing and most highly-desired designs. The ring, which sold for more than ten times its estimate, comprised an oval-cut Burmese ruby of 7.61 carats, set in a border of baguette and round-cut diamonds. It was signed Bulgari and was also accompanied by two gemmological reports, confirming its Burmese (Myanmar) origin, with no indications of heat treatment. It achieved £68,750 against a pre-sale low estimate of £6,000.
Speaking about the result, Samuel Hill, Managing Director of Elmwood’s auction house in London, said, “We are absolutely delighted with the results of two important rubies, which are a nod to the strength of the market for top quality coloured stones. There was fierce bidding for both lots, in the room, online and over the telephones, with one finally going to an anonymous Swiss buyer, and the other to an Asian private collector. Our vendors are very pleased and we are thrilled to have set a new house record for a single piece of Jewellery.”
Other auction highlights included an unusually large and very important natural pearl and diamond ring, selling for £150,000 against a pre-sale low estimate of £50,000. The ring, which was from a private European collection, comprised a natural pearl of 31.64 carats, set within an original Art Deco setting, with diamond accents. It dated from the early 20th century and was extensively tested and before the sale was researched by the world’s two leading authorities (Bahrain Institute for Pearls and Gemstones (Danat) and The Swiss Gemmological Institute – (SSEF) in Switzerland). It was accompanied by a gemmological report stating that the pearl was of natural and of saltwater origin.