Annabel Zarandi, our Valuations Manager, blogs about the increasing popularity of coloured gemstones. 

This week, The Times newspaper published an insightful article regarding the increase in sales of coloured gems such as rubies, sapphires and emeralds. Recent auction trends certainly reflect this, with Bonhams Auctioneers reporting that they have seen a 2200 percent increase in the sale of coloured gems at their auctions. As Jean Ghika, head of Bonhams Jewellery department has noted, “coloured stones are seen as a bit less informal and more fun”.

Having worked in the industry both in auction and retail I could not agree more. When Prince William proposed to the Duchess of Cambridge with a 12 carat ceylon sapphire set ring, it highlighted the desire for coloured gems in fine jewellery. The increased desirability of gems has been visible for quite some time and has certainly become more prominent at auction. Some of the world’s most iconic pieces of jewellery are predominately gem set rather than the principal feature being a diamond.

Two of the major auctions which have taken place over the last five years include the auction of the private collections of Wallis Simpson at Sotheby’s, and Elizabeth Taylor at Christies. Some of the top prices achieved in both these auctions were gem set pieces rather than being diamond heavy. It is a fair assumption that perhaps these inspirational women and their amazing jewellery collections may have had an influence on the growing popularity of these gems. The Elizabeth Taylor auction in particular was dominated by some impressively sized emeralds. The below necklace by Bvlgari is set with sixteen rectangular-cut and square-cut emeralds. This spectacular piece achieved $6,130,500 despite it being estimated for $1,000,000- $1,500-000. This price was nothing compared to the Bvlgari emerald pendant brooch which smashed its original auction estimate of $500,000-$700,000 and made an eye-watering $6,578,500.

Similar results were seen when Sotheby’s auctioned jewellery belonging to The Duchess of Windsor, with the most popular items again being the coloured gems. The below bracelet easily exceeded its original auction estimate of £130,000-180,000 and achieved £230,500.

These results certainly demonstrate the importance of provenance, but also the strength of the coloured gem market. Wallis Simpson was a style icon and in many respects, ahead of her time which was massively reflected in her jewellery collection. One of her favoured jewellers was Suzanne Belpherron, a pioneering designer whose emphasis was using the beauty of coloured gems rather than being diamond heavy. Still classed as fine jewellery, her designs have a slightly more quirky look to them whilst still remaining very elegant.

The recent trend in the rise of popularity in coloured gems is not about to fade away either, with major auction houses including gem set pieces as highlights in the summer's upcoming auctions. This week has seen both Sotheby's and Bonhams auction incredible collections with coloured gems leading the way. This necklace by Charles Jacqueau for Cartier was one of the highlights from Sotheby's Magnificent Jewels auction on 21st April. The Moghul Empire art influenced necklace is made from carved Emerald, Sapphire and lapis Lazuli beads. Originally estimated at $1,800,000-2,200,000, it made a staggering $2,590,000. Although provenance was a factor in the sale, (it was originally purchased by Baron Eugène de Rothschild for this new wife Catherine Wolff, or "Pretty Kitty" as she was known as), there is no denying its beauty. The combination of the rich greens and blues have not dated in the slightest and it is still as charming now as when it was originally purchased in 1924.

Another success from the auction was this emerald and diamond pendant weighing 35.02cts. Its deep green hues are captivating and is a testament to the wealth of the era at the time it was cut in the early part of the 20th century in the United States.

Bonhams have seen equally impressive results from their Fine Jewellery Auction which took place on 22nd April. Key pieces of the sale were heavily gem set rather than diamond alone. These beautiful sapphire and diamond ear pendants were sold for £75,000, exceeding their original estimate of £30,000-40,000.

Another incredible result was this sugarloaf cabochon sapphire and diamond ring. The sapphire is of Kashmir origin, which is extremely desirable in itself. At £240,000, it made four times its top estimate of £60,000.

Again, these astonishing results verify the strength of the coloured gemstone market. They are proving to be just as coveted as diamonds. As well as being a slightly more “informal” option over diamonds, the physical attributes of these gems also make them very desirable. Despite diamonds being the hardest known natural material, sapphires and rubies are not too far behind making them just as durable and therefore as easy to wear on a day to day basis. Some gems can also be just as rare as a diamond. A good example is the Kashmir sapphire, with its rich lustrous blue hue being greatly desired. With these staggering auction results and more major jewellery houses focusing on alternative materials to diamonds in their designs, the future certainly looks bright for coloured gems!

Contact us if you need a loan against your jewellery, whether it be gem set or diamond set.