A Kashmir Sapphire Gold Ring Sold for Over 2 Million Euros at an Auction in Monaco

A 27-carat exquisite Kashmir blue sapphire ring was sold for 2.1 million euros at an auction that took in Monaco. The event was organized by Hotel des Ventes de Monte Carlo (HVMC).

The sapphire ring previously belonged to a European princely family.

According to AFP, this precious gemstone mounted on a platinum and yellow gold ring,  surrounded by two round diamonds, had a starting price of 1.7 million euros at the auction held at Café de Paris Monte Carlo. Its estimated value was between 2 and 3 million euros.
Kashmir Gemstone Ring
Seven interested buyers bid by phone before the final blow of the hammer. The buyer is of Italian nationality and will have to pay a total of 2.7 million euros, an amount that includes taxes.

The most beautiful sapphire specimens from Kashmir, much appreciated by collectors, are regularly sold for over one million euros.

In the 19th century, a landslide in the Himalayas revealed a deposit of exceptional stones. Currently, most of the deposits in this region are closed, which explains the rarity and value of these stones "of an intense blue and a silky and velvety sheen", said the representative of HVMC.

In 2014, "Blue Belle of Asia", a 392-carat Sri Lankan sapphire mounted on a diamond necklace, was sold for an astronomical 17.29 million dollars at an auction hosted by Christie's at Geneva.

Of the 450 lots of jewelry put up for sale in the Monaco auction, 80% found a buyer, for a total of 6 million euros.

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