After Christie’s, it’s Sotheby’s turn to boast precious auction records: in Geneva, the Graff Ruby, “a gem among gems,” was sold for 8.6 million dollars (about 7.1 million euros), a world auction record for a ruby. The Magnificent & Noble Jewels auction was centered on the sale of the red gem, from the Dimitri Mavrommatis Collection. The ruby has a cushion cut, weighs 8.62 carats, and exceeded its maximum estimate. It also set a new world record for price per carat. The spectacular jewel with a rare and precious pigeon blood color and associated with the finest rubies from Mogok, Burma, was not the only one to fetch a million-dollar price. Sotheby’s also highlighted the world auction record for a Kashmir sapphire (6 million dollars, 5 million euros). The jewels from the Mavrommatis Collection also performed well, selling for $27.9 million, approximately €24 million. The natural pearl necklace that belonged to Queen Joséphine exceeded its estimate and was sold for $3.4 million, €2.8 million. In total, the Magnificent & Noble Jewels auction totaled $95.3 million, €79.4 million.
“The Graff Ruby is a jewel that enchants you. A gem among gems and the most beautiful ruby I have ever seen in my career. The record price recorded also represents a true tribute to the great eye of Dimitri Mavrommatis and the true passion that the collector showed for beauty in all its forms”, commented David Bennett, chairman of Sotheby’s Switzerland and head of the Jewelry Department of Sotheby’s Europe and Middle East. Laurence Graff was also satisfied, “Mr. diamond»: «It was simple: Graff deals with the most beautiful gems in the world, and this is the most beautiful ruby in the world. We are very proud to own it for the second time».
