Kashmir Sapphire Is Top Seller at Bonhams

RAPAPORT... A Kashmir sapphire led Wednesday's Bonhams Hong Kong Jewels and Jadeite auction, selling for more than $400,000.The ring, featuring the unheated cushion-shaped, 6.99-carat sapphire with a pav?(C)-set diamond surround, fetched HKD 3.3 million ($417,752), within presale estimates, Bonhams said the same day. A modified shield brilliant-cut, 5.09-carat Paraiba tourmaline and diamond ring also fetched a price within the expected range, going for HKD 3 million ($377,617)."Traditional colored gemstones of superb quality, such as the star lot from the esteemed Kashmir mine, continue to command strong prices," commented Bonhams director of jewelry Stewart Young, who is also head of Asia for the category. "But at the same time, we are also delighted to see that collectors are happy to pay top prices for newly trending gemstones such as the Brazilian Paraiba tourmaline."In addition, the auction house sold all 21 pieces in a collection of Buccellati jewelry from an Asian private owner, achieving double the total estimate.Image: The sapphire ring. (Bonhams)