Category Archives: Jewelry auction

John and Laura Ramsey write: Rubellite a Beautiful Color

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rubellite for blog 2

Writing just recently about emerald it made me think about Rubellite. Rubellite just like Emerald is considered to be a Type 3 gemstone. Type 3 gemstones are known for their having eye visible inclusions. The fact of Rubellite and Emerald is this: if a person wants the beautiful color of these 2 gemstones they have to put up with the inclusions. We think it is worth it!!! One of the differences between Rubellite and Emerald is that many Rubellite gemstones are dark enough that the inclusions are not readily seen. What is seen is the amazing red color and some nice reflectivity from the bottom facets—beauty, all beauty.
Some people might wonder why I did not use the term Rubellite Tourmaline. That is due to the fact that Rubellite is a color of tourmaline. “Rubellite Tourmaline” is a redundant term. In any case Rubellite is a favorite gem of mine. Rubellite was my first important color in tourmaline. Early on in my career I was able to cut some Rubellite from one of the tourmaline mines in Southern California shortly after a nice pocket of it was found. This coincided with my entry into the gem business. This was in the early 70’s. Much of this material was heavily flawed as is much of the Rubellite ever found in the world. This is true of Rubellite and certain colors of Pink tourmaline.
I was lucky enough to participate in most of the big Rubellite finds throughout the world, one way or another, since the early 70’s. Southern California, Newry Maine, Jonas Limas (Minas Gerais, Brazil, late 70’s), Goais Brazil (early 80’s), Afghanistan (early 80’s), Nigeria (2000-2001), Mozambique 2010, and Undisclosed find happening right now. While each of these finds was Rubellite, each of them was a slightly different color. California material was quite pink, Jonas Limas was a little purple, Goais Brazil was very red but a little too dark in all but a few gems, Afghanistan was a little light and a little pink, Nigeria was perhaps the biggest quantity and best color overall—quite red, Mozambique was a little purple and Undisclosed is quite nice.

John and Laura Ramsey write: Follow up on 100 ct. Diamond Sale

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Emerald Cut Diamond

About 2 ½ months ago we wrote about an upcoming sale of a 100 ct. D/Flawless diamond at auction. Just last week the sale happened at Sotheby’s in New York. Reports are that the stone sold for a little over $22 million USD. The auction estimate was between $19 and $25 million. So, the stone’s final sale price exceeded the $19 million low end. In the last few years a number of high flying diamond sales have gone over the high estimate but not this time. Our only guess as to why is that 2 of the reputed 3 sources of ultra-high customers have their wealth based on oil which has had a price drop over the past few months. Compared with some other great gems it seems in some sense that the buyer got a bargain. A bargain few people can afford—that’s true—but a bargain nonetheless.
The good news is that the lower oil prices may very well help out the already strong U.S. economy. That is news more important to most of us who live here in the USA. Every time oil has climbed in the past 40 years economists have likened the price hike to a tax increase. Well then, it must be that lower oil prices can be likened to a tax cut for Americans. How great that is.
During the past 7 years colored diamonds have sold for much more per-carat at the major auctions than have white diamonds. The Pink Star “sold” at Sotheby’s for over $83 million. True, the sale fell through but the stone is now valued at $72 million. The Wittlesbach-Graff blue diamond sold for $31 million in 2008 when the financial sky was falling. The stone known prior to that sale was known simply as the Wittlesbach diamond. The famous jeweler Graff bought it in 2008, had the stone re-cut which improved its shape and color and then added a hyphen and his last name to the stone. Reports are that Graff resold the stone in 2011 for $80 million to the then ruler of Qatar.
Continuing with the adventures in colored diamonds the Graff Pink sold at Sotheby’s in 2010 for $46 million and the Christie’s Perfect Pink sold in 2010 for $23+ million.
It seems that the fancy colored diamonds have finally found their true place in the gemstone hierarchy.

The gem in our photo is an emerald cut diamond similar in many aspects of its appearance to the one in the story.