Gemstones have long been a part of human culture, with most of them tracing their lineage back millions of years. But did you know that the history of high-value jewellery auctions is a story of global power shifts? Gemstones that once belonged to monarchies have now transformed into being the ultimate symbols of business tycoons and celebrities in the 20th century. A fun fact: this evolution reached a fever pitch with the 1987 sale of the Duchess of Windsor’s collection.
Today, the market has shifted its gears from historical storytelling toward investment-grade science. Over the past couple of decades, the prices of these gemstones have skyrocketed, with customers spending millions on these pieces. Circling this are high-end jewellery auctions that act as one of the primary marketplaces for the world’s most concentrated form of wealth.
While all of this might sound interesting, below, peruse your way through five of the most expensive gemstones ever sold at an auction.
Back in 2017, the Pink Star became the most expensive gemstone sold at an auction, priced at a whopping $71.2 (INR6,689 crore) million at Sotheby’s Hong Kong. The 59.60-carat GIA-graded diamond has a record of its own and is known as the largest-known Fancy Vivid Pink diamond. Originally named the Steinmetz Pink, the diamond achieved a bid of $83 million from a New York-based diamond cutter in 2013. However, after he failed to pay for it, the stone returned to the auction house. Later, Hong Kong retail giant Chow Tai Fook called the winning amount and renamed the stone Pink Star.
The Oppenheimer Blue is the world’s largest vivid blue diamond to have hit the auction. The 14.62 carat diamond was named in honour of its previous owner, Sir Philip Oppenheimer, the former chairman of the De Beers diamond company, whose family has been leaders in the diamond industry for generations. Auctioned in 2016 at Cathie’s, the blue diamond is classified as a Vivid Blue and is emphasised by its emerald cut.
In 2017, Sotheby’s auctioned one of the best coloured diamond pieces: Apollo and Artemis, which was later renamed to Memory of Autumn Leaves and Dream of Autumn Leaves. This particular set of pear-shaped coloured diamonds comprises a blue diamond that weighs up to 14.54 carats, type 11b, and a pink diamond weighing 16.00 carats, VVS2 clarity, type 11a.
Bought by the Harry Winston company in Geneva in 2018, the Pink Legacy is a rare pink diamond weighing in under 19 carats. Once owned by the Oppenheimer family, who formerly controlled the De Beers mining company, the stone was originally found in South Africa and is now named after its new owner, Winston.
Discovered in South Africa in 2014, the Blue Moon of Josephine is a 12.03-carat cushion-shaped fancy vivid blue diamond and is one of the most expensive jewels ever sold. At Sotheby’s Geneva, Hong Kong billionaire Joseph Lau got this diamond as a gift for his seven-year-old daughter, Josephine. Before this, he had also auctioned a 16.8-carat pink diamond for $28.5 million at Christie’s, which he named Sweet Josephine.