Kashmir Sapphire

A decade after a 19.88-carat Kashmir sapphire shattered auction records in Geneva, the potential return of the priceless gems from the strife-torn region to global markets is on the horizon.

When Geneva-based jeweller Ronny Totah received an offer last November to view a rare Kashmir sapphire set for auction with an asking price of up to $12 million, his jaw dropped.

A diamond-platinum ring with a stunning 8.99 carat Kashmir sapphire sold for USD 527,500 (Rs 2.86 crore) at an auction here, more than double of its pre-sale estimate. The identity of the buyer of the ring that had a pre-sale estimate of USD 250,000-350,000 was not immediately known.

A decade after a 19.88-carat Kashmir sapphire shattered auction records in Geneva, the potential return of the priceless gems from the strife-torn region to global markets is on the horizon.

When Geneva-based jeweller Ronny Totah received an offer last November to view a rare Kashmir sapphire set for auction with an asking price of up to $12 million, his jaw dropped.

A diamond-platinum ring with a stunning 8.99 carat Kashmir sapphire sold for USD 527,500 (Rs 2.86 crore) at an auction here, more than double of its pre-sale estimate. The identity of the buyer of the ring that had a pre-sale estimate of USD 250,000-350,000 was not immediately known.