A spectacular diamond necklace centered on a rare Burmese ruby emerged as the star attraction at Bonhams New York’s Exceptional Jewels auction, achieving a remarkable $2.178 million and dramatically surpassing market expectations.
The necklace, featuring a 5.02-carat oval-shaped ruby of Burmese origin, attracted fierce bidding from collectors and gemstone enthusiasts, ultimately selling for more than 20 times its pre-sale estimate. Auction specialists had initially valued the piece between $100,000 and $150,000, making its final result one of the most notable surprises of the sale.
The ruby’s exceptional quality played a key role in the bidding battle. Certified by the American Gemological Laboratories (AGL), the gemstone was identified as a highly coveted “pigeon’s blood” ruby from Myanmar, a designation reserved for stones displaying the most desirable and vivid red coloration. The report further confirmed that the ruby showed no evidence of heat treatment, a rarity that significantly enhances its value among collectors.
The gemstone was set in a platinum necklace adorned with alternating baguette-cut and round brilliant diamonds. The elegant design featured a graduated diamond arrangement and included a detachable ruby pendant, offering both versatility and exceptional craftsmanship.
Another standout performer at the auction was a rare 30.61-carat Paraiba tourmaline from Mozambique. Offered as an unmounted gemstone, the vivid blue-green tourmaline realized $1.452 million, exceeding its pre-sale estimate of $150,000 to $250,000 by more than nine times. The result reflects the growing international appetite for exceptional Paraiba tourmalines, which remain among the most sought-after coloured gemstones in the world.
According to Bonhams, the exceptional results achieved by both lots highlight the sustained strength of the high-end gemstone market. Collectors continue to compete aggressively for rare, untreated coloured stones with strong provenance, outstanding quality, and limited availability.
The auction’s standout performances demonstrate that demand for investment-grade coloured gemstones remains robust despite broader economic uncertainties. Rare rubies and Paraiba tourmalines, in particular, continue to command premium prices as collectors seek unique assets that c
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