A Closer Look At The Six Most Expensive Emeralds
A closer look at the most expensive emeralds, from remarkable Colombian stones to important jewels by Cartier, Harry Winston and Van Cleef & Arpels.
Emeralds are often judged by what the eye sees first: the intensity and distribution of their green color. Yet the stones that reach the highest levels of the jewelry market require a closer look. Size, transparency and clarity enhancement can change how an emerald is understood, while origin provides another layer of context for evaluating an important stone.
Large emeralds with strong color and relatively limited treatment become increasingly difficult to find as quality rises. In finished jewelry, the setting can add another dimension, whether an emerald appears as a single center stone or forms part of a more elaborate design. The most expensive emeralds sold at auction since 2020 show how these qualities can take very different forms.
The Most Expensive Emeralds
| Emerald Jewelry | Notable Features | Price (USD) |
|---|---|---|
| Harry Winston Emerald and Diamond Brooch/Pendant | 80.45-carat Colombian emerald, minor oil | $3.8M |
| Cartier Emerald and Diamond Ring | 21.86-carat Colombian emerald, minor clarity enhancement | $3.7M |
| Moussaieff Emerald and Diamond Demi-Parure | Colombian emeralds from 1.57 to 14.08 carats | $3.2M |
| Harry Winston Emerald and Diamond Necklace | Five Colombian emeralds totaling 116.73 carats | $2.8M |
| Magnificent Emerald and Diamond Necklace | Colombian drop-shaped emeralds totaling 347.11 carats | $2.4M |
| Van Cleef & Arpels Emerald, Ruby, Diamond and Onyx Pendent Necklace | Carved emeralds, detachable pendent brooches | $2.2M |
1. Harry Winston Emerald and Diamond Brooch/Pendant, 80.45 Carats, $3.8M
This emerald and diamond brooch/pendant combination sold for 3.2M CHF in May 2021. At its center is a step-cut Colombian emerald weighing 80.45 carats, framed by pear- and marquise-shaped diamonds. The emerald’s scale gives the jewel its presence, while the diamond surround keeps the design focused on the center stone.
SSEF identified the emerald as Colombian with a minor amount of oil in its fissures. In an accompanying appendix letter, the laboratory noted its combination of substantial size, saturated and even color and fine purity. At more than 80 carats, those characteristics distinguish the emerald well beyond size alone.
2. Cartier Emerald and Diamond Ring, 21.86 Carats, $3.7M
This Cartier emerald and diamond ring sold for $3.7M USD in December 2020. The ring centers on a 21.86-carat square emerald-cut emerald, flanked by baguette diamonds with additional single-cut diamonds incorporated into the mounting. The restrained setting places the Colombian emerald firmly at the center of the design.
AGL classified the stone as Classic Colombian origin with minor traditional clarity enhancement, while SSEF also identified Colombian origin and minor clarity enhancement. The combination of substantial carat weight and limited enhancement helps explain the significance of the stone, with the signed Cartier setting adding another dimension to the finished jewel.
3. Moussaieff Emerald and Diamond Demi-Parure, $3.2M
This Moussaieff emerald and diamond demi-parure sold for 2.7M CHF in May 2021. The set comprises a necklace and pair of pendent earrings, with the necklace alternating step-cut emeralds with diamonds before extending into a fringe of pear-shaped emeralds and diamonds.
SSEF identified the emeralds, ranging from 1.57 to 14.08 carats, as Colombian, with minor to moderate amounts of oil in their fissures. Rather than relying on one dominant center stone, the demi-parure brings together multiple emeralds across a coordinated design, making consistency across the group an important part of the jewel’s impact.
4. Harry Winston Emerald and Diamond Necklace, 116.73 Carats, $2.8M
This Harry Winston emerald and diamond necklace sold for $2.8M USD in June 2021. Created circa 1955, the necklace centers on five emerald-cut emeralds totaling 116.73 carats, surrounded by pear- and marquise-shaped diamonds. Three segments are removable, allowing the composition of the jewel to be altered.
AGL identified all five emeralds as Colombian, with clarity enhancement ranging from insignificant to minor. The combination of more than 100 carats of emeralds with limited enhancement is notable, while the signed Winston setting places the stones within a mid-century design conceived to showcase them as a group.
5. Magnificent Emerald and Diamond Necklace, $2.4M
This circa 1950 emerald and diamond necklace sold for 1.9M CHF in May 2026. Its graduated fringe comprises 13 drop-shaped emeralds ranging from 11.38 to 57.82 carats, complemented by an 11.76-carat cabochon emerald and diamonds in several cuts.
AGL identified the 13 drop-shaped emeralds, totaling 347.11 carats, as Colombian, with clarity enhancement ranging from minor to moderate. The necklace stands apart for the sheer quantity of substantial emeralds brought together in one jewel, with the graduated arrangement allowing their differences in scale to become part of the design.
6. Van Cleef & Arpels Emerald, Ruby, Diamond and Onyx Pendent Necklace, $2.2M
This Van Cleef & Arpels pendent necklace sold for 16.7M HKD in October 2022. The design combines carved emeralds with ruby beads, diamonds and onyx, creating a more elaborate use of emerald than the faceted center stones seen elsewhere on this list. Two pendent brooches can also be detached from the necklace and worn separately.
Here, the emeralds are integral to a broader composition rather than presented primarily for their individual carat weight. Their carved surfaces introduce texture alongside the contrasting gemstones, while the detachable elements reflect Van Cleef & Arpels’ approach to transformable jewelry.
What the Most Expensive Emeralds Have in Common
The emeralds behind these auction results vary considerably in scale and presentation. Some appear as single center stones, while others were assembled into necklaces containing multiple substantial gems. Across the group, Colombian origin appears frequently, but origin alone does not explain the results. Color, transparency, size and the degree of clarity enhancement all contribute to how an important emerald is evaluated.
The settings also show how differently exceptional emeralds can be used in jewelry. A large step-cut stone can command the center of a relatively restrained design, while carved emeralds or a graduated group can become part of a more complex composition. Understanding those distinctions provides a more useful way to compare important emerald jewelry than carat weight alone.
FAQ's About the Most Expensive Emeralds
What makes an emerald valuable?
Color is one of the most important considerations, alongside transparency, size, origin and the degree of clarity enhancement. These factors are assessed together rather than in isolation.
Why are Colombian emeralds so highly regarded?
Colombia has long been associated with important emeralds and appears frequently among the highest-value examples in this list. Origin, however, does not determine quality or value on its own.
What does oil treatment mean for an emerald?
Oil can be introduced into surface-reaching fissures to improve their appearance. Laboratory reports may describe the degree of clarity enhancement as insignificant, minor, moderate or greater, providing useful context when comparing stones.
Are untreated emeralds rare?
Emeralds commonly contain fissures, making some degree of clarity enhancement relatively common. Stones with little or no enhancement can be more difficult to find, especially as size and quality increase.
Does a larger emerald always cost more?
No. Carat weight is only one consideration. Color, transparency, origin, clarity enhancement and the overall quality of the stone can all affect how an emerald is evaluated.
Buy and Sell Emerald Jewelry with Sotheby’s
Whether you’re a seasoned collector or new to the world of colored gemstones, Sotheby’s offers a trusted, seamless way to buy and sell emerald jewelry on the secondary market.
Why Choose Sotheby’s?
- Expertly Vetted Selection
Explore rare and iconic emerald jewelry, from elegant emerald and gold rings to highly coveted pieces featuring exceptional Colombian, Zambian and minimally enhanced emeralds commanding significantly higher prices. - Exclusive Global Access
Shop emerald jewelry through auctions and Buy Now marketplace, backed by a worldwide network of collectors, consignors, and trusted suppliers. - Flexible Ways to Buy
Purchase online or in person at our locations in New York, London, Paris, and Hong Kong—or work with a dedicated jewelry team of specialists for tailored assistance. - Exceptional Value
Every piece of emerald jewelry is authenticated and priced by Sotheby’s specialists to reflect true market value. - Constantly Evolving Inventory
Discover vintage and modern emerald rings, necklaces, and bracelets across all price points, with new pieces added regularly.
Ready to Get Started?
- Explore Sotheby's upcoming jewelry auctions in New York, London, Switzerland, Paris, and Hong Kong
- Shop Sotheby's Buy Now jewelry for instant access to available inventory
- Speak with a Sotheby's jewelry specialist to consign or request a valuation for emerald jewelry
Trust our worldwide network of leading jewelry specialists from a globally renowned auction house established in 1744.
