It is easy to be lured under the impression that diamonds, emeralds and rubies are the only real valuable gemstones.  However, Bonhams have announced that they are to auction the rare “Hope Spinel” in their Fine Jewellery auction on September 24th.  This large octagonal stone weighs 50.31cts in total and its provenance can be traced back to the Hope Collection.   It has been estimated at £150,000 – 200,000.  The Telegraph reported that this will be the first time in 98 years that it has been up for auction, needless to say, the excitement that has been generated around it sale has been phenomenal.  It is name after Henry Philip Hope (1774-1839) who came from a wealthy Anglo-Dutch family of merchants and merchant bankers.

The impressive provenance is certainly something to take into consideration in regards to the value.  But it is the qualities of the Spinel itself that commands it value.  Surprisingly it is a gem not many people are familiar with, and in my opinion, is massively underappreciated.  Its qualities are similar to that of a diamond as it belongs to the isometric system, producing perfect octahedral crystals.  It is also a tough, durable stone with a vitreous lustre.  A colourless spinel is rare, and can sometimes be confused for a diamond.  However, spinel comes in hues of deep rose to red and is often mistaken for Ruby.  The most famous example of this, and indeed another example of a famous spinel is the Black prince ruby.  This remarkable spinel weighs 170cts and traces its origins back to 1366AD when it was gifted to its original owner and namesake Edward of Woodstock (The Black Prince).  It currently situated on the cross of the Imperial State crown.    The Timur Ruby is another famous example of a spinel and is currently in a necklace as part of the British Crown Jewels. 

Given the Spinel’s exciting history, it is little wonder many are excited for the auctioning of the Hope Spinel.  It also makes sense as to why world famous jewellery houses, such as Cartier and Grima, have used these gemstones excessively in their designs.  It goes without saying, if you are looking to invest in jewellery, perhaps look outside the usual route of diamonds, rubies and sapphires.