Ruby and pink diamond set world records at Sotheby’s jewelry auction

Author Marcus Baram

Marcus Baram is a contributing editor at Crain Currency, where he covers the intersection of finance and politics. Prior to joining Crain Currency, Baram was a staff writer at Fast Company and an editor at Huff Post. He has also written for outlets such as The New York Times, The Atlantic, and Vice. Baram is an expert on economic policy and has a deep understanding of the ways in which politics shapes the global financial system. In his role at Crain Currency, he brings a unique perspective to the complex and ever-evolving world of finance. With his keen analysis and clear writing, Baram helps readers make sense of the important issues impacting the economy today.

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Jun 08, 2023

1 year ago

Two historic stones have set new world records and made auction history by each selling for over $30 million at Sotheby’s Magnificent Jewels auction.

First, the Estrela de Fura 55.22, a Mozambique ruby sold for $34.8 million, an auction world auction record for a ruby or any colored gemstone. Soon after, The Eternal Pink, a pink diamond also sold for $34.8 million, a world auction record for a Fancy Purplish-Pink Diamond.

The ruby was discovered at FURA Gem’s ruby mine in Mozambique almost a year ago and has been the talk of the jewelry world, emerging as the largest gem-quality ruby to ever appear at auction.

“It’s difficult to express the range of emotions I felt when I first laid eyes on the ‘Estrela de Fura 55.22’, but to put it simply, I was entranced,” says Quig Bruning, head of Sotheby’s Jewelry, Americas.

The auction, which is ongoing, also features a collection of jewelry from the prestigious Mellon family. Among the items are signature pieces from Cartier and David Webb from the collection of Constance Prosser Mellon and Constance Barber Mellon — a mother and daughter who were known for their sense of style in fashion and jewelry.

Author Marcus Baram

Marcus Baram is a contributing editor at Crain Currency, where he covers the intersection of finance and politics. Prior to joining Crain Currency, Baram was a staff writer at Fast Company and an editor at Huff Post. He has also written for outlets such as The New York Times, The Atlantic, and Vice. Baram is an expert on economic policy and has a deep understanding of the ways in which politics shapes the global financial system. In his role at Crain Currency, he brings a unique perspective to the complex and ever-evolving world of finance. With his keen analysis and clear writing, Baram helps readers make sense of the important issues impacting the economy today.