One of the most expensive rings to ever sell at a Birmingham auction has fetched a total of £175,980. The magnificent Kashmir sapphire ring, boasting over 11.9cts, attracted four different customers who all placed bids of over £100,000.
We offered the item as Lot 105 in our Fine Jewellery sale. A live auction showcasing the best jewels that we have to offer. As a result, there was a fierce bidding war for the ring. It went under the hammer in the Jewellery Quarter on Thursday 29th July.
The Auction
We placed a pre-auction estimate of £100,000 - £150,000 on the ring, and it sold for a hammer price of £141,000 (£175,980 including fees).
Bidding started below £90,000 and quickly shot up to over £120,000. This is because telephone and internet bids were placed on the lot.
The winning bid of £141,000 was placed over the Fellows Live internet platform, ending the five-minute bidding war. It all took place at approximately 11:25am on Thursday 29th July.
The auction featured over 500 lots of fine jewellery. The jewels were from world-renowned brands in a variety of shapes, sizes, and ages. Fellows hammered round £1 million worth of jewellery, so the sale achieved phenomenal results.
Stephen Whittaker, Auctioneer & Managing Director at Fellows, said: “We are delighted to have received so much interest in the incredible Kashmir sapphire ring, which was hugely popular in our Fine Jewellery sale. Kashmir sapphires are some of the most sought-after stones in all of jewellery.
“It was exciting selling the item and seeing the multiple bids come in for the ring. The buyer has themselves a really superb item of jewellery. It was a grand team effort, as a result the ring received the best possible price and the Fine Jewellery sale was a success.”
About Kashmir stones
Mined in the northernmost Himalayan Mountain from the late 19th century, Kashmir stones are of magnificent quality.
These elusive stones were mined over a 50-year period since their discovery in 1879, so they are very scarce. Allegedly a discovery after a landslide in the Zanskar range revealed the sapphire crystals.
Deemed some of the most prestigious and sought-after stones in the world of jewellery, Kashmir sapphires are incredibly rare. They are so rare because the region produces the best specimens. These contain a superior cornflower blue or a royal blue tint and a velvety quality.
Mining in the area ceased operations around 1932, however the mountain is still heavily guarded to this day.
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