A Closer Look At The 4 Most Expensive Colombian Emerald Rings Sold At Auction

Why Colombian Emeralds Are So Valuable

Fascinating, intense green, and luminous, emeralds are among the most coveted and prestigious gemstones since ancient times. Today, Colombian emeralds are some of the most expensive gemstones on the market. Globally there has been a 10% rise in the price of natural emeralds per year for over 15 years at auctions. Emeralds are highly desired for their vibrancy and rarity. Colombian emeralds have been some of the most sought-after gemstones for centuries. When the Spanish conquistadors first discovered Colombia's rich source of emeralds they exploited the mines and traded them around the world. Today the same mines, Muzo and Chivor, are still active and producing the largest and finest quality gemstones. Gemstones from these mines are admired for their deep greenish-blue hue. The color of emeralds varies greatly, ranging from light yellow-green to deep blue-green. Collectors most desire emeralds with deeper blue-green colors and fewer inclusions. Colombian mines account for 70-90% of the emeralds in the global market. Jewelry enthusiasts and collectors are undeterred by the rising prices and continue to purchase Colombian emerald jewelry at auctions, often setting record-breaking prices. Here is a look at the most expensive Colombian jewelry creations sold at Sotheby's auction since 2011. While the size of the Colombian emerald is an important consideration for record breaking prices, the quality and provenance are also important contributing factors.

Learn more about the most expensive Colombian emerald rings sold at Sotheby's since 2011.

The Top 4 Most Expensive Colombian Emerald Rings Sold At Auction Since 2011

1. Colombian Emerald Ring 61.35 Carats, $4.6 Million

In December 2023, a Colombian emerald ring featuring a 61.35 carat stone sold at Sotheby's in New York for $4.6 million. This ring is composed of a 61.35 carat modified squared-cut emerald with 17 carats of mixed marquise and pear-cut diamonds. The AGL report states that emerald is from Colombia and has minimal oil enhancement. A Colombian emerald of this size that is a medium deep slightly bluish green is extremely rare. There are signs of oil enhancement, which contributes to the overall clarity and color are moderate. Despite the use of oil enhancement this is a one-of-a-kind record breaking emerald.

2. Colombian Emerald Ring 35.72 Carats, $4.4 Million

The second most expensive emerald ring is an exceptional example of a fine Colombian emerald. In 2014. Sotheby's sold a 35.72 carat Colombian emerald ring for $4.4 million. The ring has exceptional color, clarity, and no signs of enhancements. This ring from the Muzo mine features the iconic bluish-green color for which the mine is known. The saturation and clarity throughout the ring is almost completely even. This color and saturation makes this emerald one of the highest-valued gemstones in the world. The ring is also set with 0.70 carats of round diamonds.

3. Colombian Emerald Ring 12.01 Carats, $1.5 Million

A Colombian emerald ring sold at a Sothebys auction in 2011 for $1.5 million or roughly $120K per carat. At the time of this sale, a world auction record price per carat for an emerald was set. The ring features a superb 12.01 carat emerald, from the legendary mine of Muzo in Colombia. Muzo mines produce the most desirable emeralds in the world. The gemstone displays an evenly saturated, deep bluish-green color combined with a high transparency. The unique hexagonal shape at this size and quality and no signs of enhancement is very rare.

4. 400 Year Old Colombian Emerald Ring 5.27 Carats, $1.2 Million

In December 2022, Sotheby’s auctioned a 400-year-old Colombian emerald ring from the extraordinary treasures of the Nuestra Señora de Atocha. This 5.27-carat octagonal step-cut emerald mounted on gold was originally estimated for $50-70K. The ring surpassed its estimate and sold for a record-breaking $1.2 milion. This ring is significant for its unique provenance, timeless beauty, and mystical allure. This ring reflects the unimaginable wealth and vast domain within the New World that Spain controlled in the early 17th century. The ring was salvaged from the shipwreck in 1985 by the treasure hunter Mel Fisher and his team who had steadfastly searched an area off the coast of Florida for 16 years. The ring was given to Frank Perdue, who was a major supporter of Fisher and fellow enthusiast of Atocha history. Perdue gifted it to his wife who auctioned it and donated all of the proceeds benefit the humanitarian efforts in Ukraine.

Buying and Selling Colombian Emerald Rings at Sotheby's

While none of these record breaking Colombian emerald rings are available, Sotheby's often has rare and impressive Colombian emerald rings available at auction. Sotheby's also has a curated selection of Colombian emerald rings available for immediate purchase. If you would like to view a Colombian emerald ring, a salon specialist would be happy to assist. Sotheby's is also able to source Colombian emerald rings from its global supplier network.

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