A Closer Look At The Top 5 Most Expensive Sapphires
From Kashmir to Ceylon, explore the top five most expensive sapphires prized for their color, clarity, origin, and exceptional size.
Why Are Sapphires Valuable?
Sapphires have been prized for centuries, appearing in historic jewels as well as important designs by houses including Van Cleef & Arpels, Cartier, Bulgari and Harry Winston. While sapphires occur in several colors, blue sapphires have produced some of the strongest auction results, with value influenced by color, origin, size, clarity and whether a stone has undergone heat treatment.
Sri Lanka, Myanmar and Madagascar are among the major sources of sapphires, while historic stones from Ceylon, Kashmir and Burma can command significant attention at auction. Kashmir sapphires are associated with the region’s limited period of historic production and prized for their saturated blue color and velvety appearance. Burmese sapphires can display intense blue hues, while Ceylon sapphires are known for producing exceptional stones at substantial sizes. The five most expensive sapphires sold at auction since 2013 show how these characteristics can converge in exceptional gems and jewels at auction.
Top Five Most Expensive Sapphires
| Rank | Sapphire | Notable Features | Price (USD) |
|---|---|---|---|
| 1 | The Richelieu Sapphires | Pair of unheated Kashmir sapphires weighing 26.66 and 20.88 carats; historic provenance | $8.4M |
| 2 | Unmounted Burmese Sapphire | 114.739-carat unheated Burmese sapphire from Mogok with strong blue saturation | $7.2M |
| 3 | Harry Winston Sapphire and Diamond Necklace | 111.73-carat unheated Ceylon sapphire; “royal blue” color; detachable pendant | $5.2M |
| 4 | Oscar Heyman & Brothers Kashmir Sapphire Ring | 28.18-carat unheated Kashmir sapphire with saturated, velvety blue color | $5.1M |
| 5 | Sapphire and Diamond Pendant | 132.83-carat unheated Ceylon sapphire with strong color and clarity | $4.8M |
1. The Richelieu Sapphires, 26.66 and 20.88 Carats, $8.4M
The Richelieu Sapphires sold for $8.4M USD in November 2013. The earrings feature two cushion-shaped, unheated Kashmir sapphires weighing 26.66 and 20.88 carats, each suspended from a star-shaped diamond surmount.
The sapphires are also distinguished by their historic provenance. They are understood to have been given to Odile de La Chapelle de Jumilhac de Richelieu for her 1905 marriage to Count Gabriel de La Rochefoucauld, Prince de La Rochefoucauld. Their substantial size, Kashmir origin and absence of heat treatment place the pair among the most significant sapphire earrings to have appeared at auction.
2. Unmounted Burmese Sapphire, 114.739 Carats, $7.2M
This 114.739-carat unmounted sapphire sold for $7.2M USD in November 2013. The oval sapphire originated from the Mogok region of Burma, a historic source of important rubies and sapphires. Its strong blue saturation is natural, with no indications of heat treatment.
At more than 114 carats, the sapphire combines substantial size with the color and transparency associated with important Burmese stones. Its oval cut was designed to emphasize those qualities while preserving significant weight from the original crystal. Unlike the other sapphires on this list, the stone was offered unmounted, placing the focus entirely on the gemstone itself.
3. Harry Winston Sapphire and Diamond Necklace, 111.73 Carats, $5.2M
This Harry Winston sapphire and diamond necklace sold for 4.3M CHF in May 2021. The jewel centers on a cushion-shaped Ceylon sapphire weighing 111.73 carats, framed by brilliant-cut diamonds and suspended from a necklace set with marquise-shaped and brilliant-cut diamonds. The pendant is detachable and can also be worn as a brooch.
Both SSEF and Gübelin determined that the sapphire showed no indications of heat treatment, with SSEF describing its color as “royal blue.” At more than 100 carats, the stone combines substantial size with saturated color and high clarity. Its scale, unheated Ceylon origin and Harry Winston setting distinguish the necklace among the highest-priced sapphire jewels sold at auction.
4. Oscar Heyman & Brothers Kashmir Sapphire Ring, 28.18 Carats, $5.1M
This Oscar Heyman & Brothers Kashmir sapphire ring sold for $5.1M USD in 2014, far exceeding its estimate. The ring centers on a 28.18-carat Kashmir sapphire surrounded by 32 tapered baguette diamonds.
The unheated sapphire displays the saturated blue color and velvety appearance associated with important Kashmir stones, along with high clarity for a sapphire of this size. Large Kashmir sapphires are limited by the region’s short period of historic production, making the combination of origin, size, color and absence of heat treatment central to this stone’s significance.
5. Sapphire and Diamond Pendant, 132.83 Carats, $4.8M
This sapphire and diamond pendant sold for 3.9M CHF in May 2023. The jewel centers on a cushion-shaped Ceylon sapphire weighing 132.83 carats, suspended from a surmount set with pear-shaped and brilliant-cut diamonds.
Both SSEF and AGL determined that the sapphire showed no indications of heat treatment. The stone combines substantial size with strong blue color and high clarity, qualities further emphasized by its well-proportioned cushion cut. At more than 130 carats, the unheated Ceylon sapphire demonstrates how exceptional scale can coincide with the color and clarity expected of an important gem.
The highest auction prices for sapphires reflect more than carat weight alone. Across these five jewels, origin, color, clarity and the absence of heat treatment help distinguish exceptional stones, while historic provenance or an important setting can add another dimension. Kashmir, Burma and Ceylon are all represented among the top results, showing how different origins can produce sapphires of significant quality and scale.
From an unmounted 114.739-carat Burmese sapphire to important jewels by Harry Winston and Oscar Heyman & Brothers, these examples demonstrate the quality of the individual gemstones and the importance of considering a sapphire’s characteristics and laboratory reports when comparing significant stones.
Frequently Asked Questions About the Most Expensive Sapphires
Which sapphire origins have achieved the highest auction prices?
Kashmir, Burma and Ceylon have all produced sapphires that have achieved significant auction prices. Origin alone does not determine value, however. Color, size, clarity, treatment status and the qualities of the individual stone also influence how a sapphire is assessed.
Why are unheated sapphires significant?
Heat treatment is commonly used to improve the color or clarity of sapphires. A sapphire with no indications of heating retains its natural color and internal characteristics, which can be an important distinction when evaluating exceptional stones.
Does a larger sapphire always command a higher price?
No. Carat weight is only one factor. A smaller sapphire with exceptional color, an important origin and no indications of heat treatment can achieve a higher price than a substantially larger stone with different characteristics.
What does “royal blue” mean for a sapphire?
“Royal blue” is a color designation used by some gemological laboratories for sapphires that meet their specific criteria for hue, tone and saturation. Standards can vary between laboratories, so the designation should be considered alongside the full laboratory report and the qualities of the stone itself.
Why are laboratory reports important for significant sapphires?
Independent gemological reports can provide information about a sapphire’s geographic origin and whether there are indications of treatment. For important stones, reports from more than one laboratory may accompany the jewel, providing additional documentation for characteristics that can influence how the sapphire is evaluated.
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