De Beers’ rough diamond sales were down 18 percent year-over-year in its latest round of sales.
The ‘Hope’ raises the auction bar for spinel
The 50.13-carat rose-hued stone sold for $1.5 million at Bonhams Thursday, setting a new per-carat record for a faceted spinel at auction.
London--The Hope Spinel, a rare and large gemstone not seen at auction for 98 years, sold for $1.5 million at the Bonhams Fine Jewellery sale in London Thursday, fetching well over its highest pre-sale estimate of $305,000.
Purchased by a private bidder via telephone, the stone also set a per-carat world record price for a faceted spinel at auction when it garnered $30,000 per carat. The previous record, set in 2013, was $16,000 per carat.
The octagonal-cut spinel is set in a 19th century sterling silver and gold brooch and is surrounded by diamonds. Bonhams said the Swiss gemological laboratory SSEF has confirmed the stone is from ancient mines due to its exceptional transparency, flawless cut, beautiful color and large size. It is “classed as an exceptional treasure of nature.”
The last time it went up for sale was in 1917.
The Hope Spinel originally was part of a gem collection owned by London banker Henry Philip Hope and his older brother, both part of the same family of rich and powerful merchant bankers that once owned the famed blue Hope Diamond.
After being secretly gifted to a nephew, the Hope Spinel became part of a long inheritance feud within the family that ended with the dividing up of the collection.
The Hope Diamond eventually was sold to a dealer in 1901 and now resides in the Smithsonian Institution’s National Museum of Natural History in Washington, D.C.
Christie’s sold the remainder of the Hope gem collection by 1917, with the Hope Spinel going to a dealer for $1,600 (about $121,500 in today) and later turning up in the collection of Lady Mount Stephen. The seller of it this time around is a direct descendant of hers.
Jean Ghika, director of Bonhams Jewellery for the U.K. and Europe, said, “We are delighted with the price it has made. It was an exceptional gemstone with a priceless provenance and these pieces just don’t come to the open market often and when they do, they are hotly contested.”
The Latest
Sponsored by the Las Vegas Antique Jewelry & Watch Show
The Patek Philippe expert will serve as personal curator for the brand-focused company.
With Ho Brothers, you can unlock your brand's true potential and offer customers the personalized jewelry experiences they desire.
The 553-square-foot shop is aboard the Carnival Jubilee cruise ship.
NDC filed a complaint against Skydiamond for use of phrases like “diamonds made entirely from the sky.”
John Carter received the AGS’s highest honor Tuesday afternoon at Conclave in Austin, Texas.
For over 30 years, JA has advocated for the industry, fought against harmful legislation and backed measures that help jewelry businesses.
LVMH said the company performed well despite an uncertain geopolitical and economic environment.
B&D Sales and Service held a ribbon-cutting event for its new location in Cranston, Rhode Island.
It’s ultra-feminine and filled with gold, pearls, and soft pastels.
Emily Highet Morgan and Emily Bennett have joined the agency’s team.
Its updated book for mountings is also now available.
She has been with the organization since 2010, most recently serving as its chief officer of PR and industry relations.
Joyce’s Jewelry sued the bank after cybercriminals drained its accounts of nearly $1.6 million through a series of wire transfers.
He is remembered by loved ones for his loyalty, integrity, and kindness.
From lab-grown diamonds and AI to the inevitable Taylor Swift mention, here are some of Conclave’s most intriguing educational offerings.
From cybersecurity liability to trade show coverage, insurance experts share tips on how to build the right policy.
The charm is a modern rendition of the evil eye amulet that has been worn for thousands of years.
Ahead of its trade show next month, TJS awarded free registration and accommodations to one jewelry professional and three students.
By the end of this year, SRK’s diamond manufacturing complexes will achieve net zero emissions, one of an impressive array of achievements.
Members can still sell lab-grown stones, it said, but only natural gems are allowed on the show floor.
He is remembered for his charisma, passion, integrity, kindness, and wit.
The retailer also appointed two new board members, avoiding a proxy fight from a potential buyer.
The bridal collection consists of 35 engagement rings and seven wedding bands.
The crown introduced a dozen timepieces in Geneva, including a heavy metal version of its deep-sea divers’ watch.
The family-owned jeweler has a new education section on its website dedicated to the history of diamond cutting.