Extraordinary Sapphires: Four Stories Behind Seven-Figure Gems

In my career, I’ve had the privilege of handling some of the most exceptional pieces of jewelry available.  There are quite a few gemstones I’ll never forget, but I’ve narrowed down the top four most unforgettable—and naturally, expensive—sapphires I’ve handled.

With each of these jewels, size and beauty are the two determining factors of their extreme rarity and value. Origin or provenance bumped the prices of these pieces well over the million-dollar mark. Allow me to delve into the distinctive beauty of each gem, unveiling their individual histories and present owners.

Have you ever seen a 30-carat sapphire? I hadn’t, outside of the Smithsonian, until a private collector called us up one day, claiming to have such a stone in his collection. Skeptically, we hopped on a Facetime call, and my jaw was instantly on the floor. He opened his safe and pulled out trays of gemstones worth millions of dollars. One of his prized gemstones was this 30-something-carat untreated Burmese sapphire. I can’t overstate the rarity of a gemstone (any gemstone) like this sapphire. It was essentially a freak of nature… Burmese, unheated, clean and crystalline, vivid blue, and 30 carats!

This ring was purchased by a gentleman far out west in a small town. I had the pleasure of visiting him to show some jewelry and he expressed his love for the allure of rare gemstones and his interest in collecting the best examples. It did hurt me a little that the pieces he acquired (he had quite a few) were going to live in a safety deposit box. His wife had passed away a few years ago, but sapphires were her favorite gemstone and he continued to buy with her in mind.

Sadly, I never had the opportunity to try on this necklace as we did not end up purchasing it from the dealer, but it’s been a few years since I’ve seen it, and I am dying to know where it ended up. Not one, but SEVEN Kashmir sapphires of substantial size were set along diamond swags in this turn-of-the-century necklace. I’ve been scouring Google, trying to see if it turned up in an auction or with one of the larger estate dealers to no avail. The dealer was quite a character (selling million-dollar jewels and eating Chinese takeout at the same time) and was asking upwards of $7 million for the necklace. 

Kashmir sapphires are to gemstones as Van Gogh is to art. The mines were extinct long ago, private collectors or museums have the best ones, and when one does appear at auction or at a retail store, the prices are outrageous. It’s also worth mentioning that the Kashmir mines were located deep in the Himalayan mountains (prone to landslides and freezing temperatures) and were active for less than a decade in the 1870s.

If you ask anyone in jewelry, they will tell you that two gemstones are always better than one. Double trouble was the moniker given to this outrageous Kashmir sapphire and diamond twin ring we purchased. The Kashmir sapphire was about 8 carats, and the diamond was closer to 6 or 7 carats (sapphires are denser gemstones), but perfectly matched in their dimensions. The diamond also happened to be a Golconda-type diamond (Type IIa) and internally flawless, adding another six or seven figures to the value of the ring. The same client who purchased the 30-carat Burmese sapphire ring purchased this one, and I truly hope I will see it again one day.

Provenance is a huge plus in the world of estate jewelry, especially when the family is American royalty. This 24-carat emerald-cut Burmese sapphire was owned by a member of the Pulitzer family. It was sold at auction in 2015 for close to $1.5 million and was purchased by a very savvy dealer. It was at home in our jewelry cases for a few months before our partner sold it to another client. I mentioned in my last post about sapphires that I prefer a deeper saturation in my sapphire, and this gemstone captures exactly what I like. The color reminded me of crushed blue velvet, and the setting was so delicate but balanced the stone perfectly on my finger. I’m not sure where this ring landed, but I’m sure the woman is incredibly happy.