Take a Closer Look at the Top Performing Ceylon Sapphires in 2024 (so far)
Learn more about the top Ceylon Sapphires to sell at Auction.
History and Origin of Ceylon Sapphires
Ceylon sapphires are highly sought after for their exquisite beauty and impressive quality. Ceylon Sapphires also referred to as Sri Lankan Sapphires are among world's most vibrant sapphires. These are found in Sri Lanka, formerly known as Ceylon. The magnificent sapphires found in this area of the world are celebrated for their rich blue hues and velvety silk appearance. The mysticism of sapphires has evolved for thousands of years. Today, many people believe in sapphires' power to focus and calm the mind, aid mental tension and depression, and encourage faithfulness and loyalty in partners. Ceylon sapphires are highly prized in the world of gemstones and are used in all forms of jewelry with Ceylon sapphire rings being the most popular jewelry piece.
Sri Lanka has been successfully mining sapphires for over 3,000 years. The region of Ratnapura is one of the richest areas in Sri Lanka for gemstones. It is often referred to as the "City of Gems”. The island nation is renowned for its diverse range of gemstones, including sapphires of various colors, but it is particularly famous for its blue sapphires. In Sri Lanka, Precambrian rocks are prevalent and form the geological foundation of the island. These rocks are primarily composed of ancient crystalline basement rocks such as granite, gneiss, and schist. The Precambrian rocks of Sri Lanka are of immense geological significance and have contributed to the island's rich mineral wealth. The island's unique geological conditions have contributed to the formation of exquisite sapphire gemstones, making Sri Lanka one of the most important sources of high quality sapphires in the world.
Top Performing Ceylon Sapphires
Sapphires have been one of the top performing gem stones this year at auction. So far in 2024, 19 of the top performance sapphire jewelry pieces have sold for $12 million, or 169% above the high estimate of $4.5 million. Not surprisingly, many of the top performing sapphires were high quality Ceylon sapphires. The top performing Ceylon sapphire ring sold for 93% above its high estimate. Unheated and exceptional Kasmir, Burmese and Madagascan sapphires have also performed well, especially large sapphires featured in rings. A Royal Blue Kashmir Sapphire ring with a 17.29 carat cushion cut center sapphire sold 3.5 million CHF, 330% above the high estimate of 800,000 CHF. Learn more about four top performing Ceylon sapphires in 2024 (so far).
Ceylon Sapphire Ring 23.65 Carats
In May 2024, a Ceylon sapphire ring sold for 685,800 CHF or almost $800,000, more than 13 times the high estimate of 50,000 CHF. This impressive Ceylon sapphire ring featured a 23.65 carat oval Ceylon sapphire. The accompanied SSEF report number 137359, dated 10 April 2024, stating that the sapphire is of Ceylon origin, with no indications of heating. The Ceylon sapphire is slightly violetish blue of strong saturation. The impressive auction result was due to the quality and size of the Ceylon sapphire and very conservative estimate that attracted 13 bidders. Unheated Ceylon sapphires over 20 carats that are rare in the market.
Cartier Ceylon Sapphire Ring 19.78 Carats
Also in May 2024, A Cartier Ceylon sapphire ring sold for 305,000 CHF or over $350,000, 77% higher above the high estimate of 70,000 CHF. The ring featured a cushion-shaped sapphire weighing 19.78 carats. The accompanied by SSEF report no. 137289, dated 26 March 2024, stating that the sapphire is of Ceylon origin, with no indications of heating. The Ceylon sapphire is slightly violetish blue of strong saturation. The impressive auction result was due to the quality and size of the Ceylon sapphire and very conservative estimate that attracted 6 bidders. Cartier has long history of sourcing the best gem stones for its high jewelry creations.
Ceylon Sapphire Earrings 22.80 Carats Total Weight
In May 2024, a pair of Ceylon sapphire and diamond earrings sold for 100,000 CHF, almost $120,000, 190% above the high estimate of 35,000 CHF. The earrings featured oval Ceylon sapphires weighing 12.62 carats and 10.18 carats. The Accompanied by SSEF report no. 135908, dated 5 February 2024, stating that the sapphires are of Ceylon origin, with no indications of heating. The Ceylon sapphires are violetish blue of light to medium saturation. The impressive auction result was due to the size, quality and match of the Ceylon sapphires and very conservative estimates that attracted 6 bidders.
Tiffany & Co Celyon Sapphire Ring 8.94 Carats
In April 2024, a Tiffany & Co Schlumberger Ceylon sapphire ring sold for 2.2 million HKD or $280,000, 80% above the high estimate of 1.2 million HKD. The ring featured a 8.94 carat Ceylon sapphire and the ring is from the 1960s. The accompanied by AGL report no. 1131496, dated 4 May 2023, stating that the sapphire is of Ceylon origin, with no indications of heating or clarity enhancement. The Ceylon sapphire is of medium blue colour and medium saturation. Jean Schlumberger was the first named designer to create unique jewelry pieces for Tiffany in 1956. The impressive result was a combination of the quality of the Ceylon sapphire and the desirability of Tiffany & Co Schlumberger early pieces by collectors.
Buying and Selling Ceylon Sapphires at Sotheby's
Natural Ceylon sapphires are highly desired by jewelry collectors. Ceylon sapphire rings are the most popular jewelry choice for highlighting the beauty of a single sapphire. Since Princess Diana’s famous royal blue Ceylon sapphire engagement ring, sapphires have also become a very popular engagement ring choice. Sotheby's sources stunning necklaces, earrings, bracelets and brooches featuring natural Ceylon sapphires for auction and marketplace. Prices for Ceylon sapphire jewelry ranges for $10,000 to $100,000+ depending on the size and quality of the sapphires, setting and provenance. Sotheby's also sources and sells high quality sapphires from Kashmir, Burma/Myanmar and Madegascar.
Sotheby's can assist with buying and selling Ceylon sapphires. Sotheby's sells rare and collectible Ceylon sapphires at auction. Sotheby's also sells high quality sapphire jewelry on marketplace, available for immediate shipping. If you would like to view Ceylon sapphire jewelry, a salon specialist would be happy to assist. Sotheby's is also able to source Ceylon sapphire rings and other jewelry from its global supplier network.
- Explore upcoming jewelry at auctions in New York, London, Switzerland, Paris, and Hong Kong.
- Speak to a Salon Associate in New York, Zurich or Hong Kong to schedule an appointment.
- Speak to a Jewelry Specialist about selling Ceylon sapphire jewelry.
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