Just one day after the 392-carat “Blue Belle of Asia” sapphire set a world record when it fetched $17.3 million at Christie’s
Geneva, rival Sotheby’s Geneva claimed two auction records with the sale
of the 8.6-carat “Graff Ruby” for $8.6 million.
gem, which was scooped up for a second time by its namesake, Laurence
Graff, now owns auction records for the highest price ever paid for a
ruby, as well as the highest price per carat
for a ruby at $997,727. The
selling price nearly reached the high end of Sotheby's pre-sale
estimate of $6.8 million to $9 million.
London jeweler, who is famous for his purchases of world-class diamonds
and colored gemstones, first acquired the spectacular cushion-cut
“pigeon blood” ruby at an auction more than eight years ago. It’s been
reported that Graff’s most recent winning bid of $8.6 million
at Sotheby’s Magnificent Jewels and Noble Jewels
auction was more than
double what he paid for the gem originally.
Sotheby’s called the “Graff Ruby” a “gem among gems,” and, in 2006, Graff had told Bloomberg News
that “the cut and spread of color is the finest I have ever seen.”
"Graff Ruby" is set in an impressive ring designed by Graff. The
ruby is centered between triangular diamond shoulders within a mounting
decorated throughout with brilliant-cut diamonds. Sotheby’s offered the
“Graff Ruby” with an alternative ring mounting, also designed by Graff.
is the finest ruby in the world," Graff said in a Sotheby's statement.
"We are very proud to have it in our possession for the second time."
last week’s auction, the “Graff Ruby” was part of the collection of
jewelry connoisseur and Greek financier Dimitri Mavrommatis. Sixteen of
Mavrommatis’ jewels were among the 403 sold at Sotheby’s Geneva last
Wednesday.Video captures via sothebys.com. Other images: Sotheby's.