Take a Closer Look at the Top Performing Ceylon Sapphires
Uncover what sets these top-performing Ceylon sapphires apart, with insights into their provenance, gemological ratings, and more.
History and Origin of Ceylon Sapphires
Ceylon sapphires are highly sought after for their exquisite beauty and impressive quality. Ceylon Sapphires also referred to as Sri Lankan Sapphires are among world's most vibrant sapphires. These are found in Sri Lanka, formerly known as Ceylon. The magnificent sapphires found in this area of the world are celebrated for their rich blue hues and velvety silk appearance. The mysticism of sapphires has evolved for thousands of years. Today, many people believe in sapphires' power to focus and calm the mind, aid mental tension and depression, and encourage faithfulness and loyalty in partners. Ceylon sapphires are highly prized in the world of gemstones and are used in all forms of jewelry with Ceylon sapphire rings being the most popular jewelry piece.
Sri Lanka has been successfully mining sapphires for over 3,000 years. The region of Ratnapura is one of the richest areas in Sri Lanka for gemstones. It is often referred to as the "City of Gems”. The island nation is renowned for its diverse range of gemstones, including sapphires of various colors, but it is particularly famous for its blue sapphires. In Sri Lanka, Precambrian rocks are prevalent and form the geological foundation of the island. These rocks are primarily composed of ancient crystalline basement rocks such as granite, gneiss, and schist. The Precambrian rocks of Sri Lanka are of immense geological significance and have contributed to the island's rich mineral wealth. The island's unique geological conditions have contributed to the formation of exquisite sapphire gemstones, making Sri Lanka one of the most important sources of high quality sapphires in the world.
Top Performing Ceylon Sapphires
Sapphires have been one of the top performing gem stones at auction. Since 2024, 19 of the top performance sapphire jewelry pieces have sold for $12 million, or 169% above the high estimate of $4.5 million. Not surprisingly, many of the top performing sapphires were high quality Ceylon sapphires. The top performing Ceylon sapphire ring sold for 93% above its high estimate. Unheated and exceptional Kasmir, Burmese and Madagascan sapphires have also performed well, especially large sapphires featured in rings. A Royal Blue Kashmir Sapphire ring with a 17.29 carat cushion cut center sapphire sold 3.5 million CHF, 330% above the high estimate of 800,000 CHF. Learn more about six top performing Ceylon sapphires since 2024.
Ceylon Sapphire Ring 23.65 Carats
In May 2024, a Ceylon sapphire ring sold for 685,800 CHF or almost $800,000, more than 13 times the high estimate of 50,000 CHF. This impressive Ceylon sapphire ring featured a 23.65 carat oval Ceylon sapphire. The accompanied SSEF report number 137359, dated 10 April 2024, stating that the sapphire is of Ceylon origin, with no indications of heating. The Ceylon sapphire is slightly violetish blue of strong saturation. The impressive auction result was due to the quality and size of the Ceylon sapphire and very conservative estimate that attracted 13 bidders. Unheated Ceylon sapphires over 20 carats that are rare in the market.
Ceylon Sapphire and Diamond Pendant/Brooch
The Maharaja Blue, a Ceylon sapphire and diamond pendant-brooch, sold for 495,300 CHF ($593,000) in May 2025. Centered around an exceptional 64.32-carat cushion-shaped sapphire of striking royal blue hue, the jewel was framed by a border of pear-shaped diamonds and signed by Asprey, with a maker’s mark and retractable bail allowing it to be worn as either a pendant or brooch. Accompanied by a Gübelin Gem Lab report confirming its Ceylon origin and no indications of heating, the sapphire was awarded an outstanding rating in its gemmological profile—highlighting its extraordinary quality, impressive size, and rarity. Unlike many large sapphires, which often display zoning or uneven coloration, The Maharaja Blue exhibited a regal saturation and clarity, elevating it to the ranks of the most prized unheated sapphires in the world. Further authenticated by fifteen gemmological reports for the surrounding diamonds, this masterpiece exemplified the fusion of natural wonder and refined craftsmanship.
Ceylon Sapphire and Diamond Earrings
This pair of Sapphire and Diamond Earrings sold for 406,400 CHF ($487,000) in May 2025. Each earring was set with a cushion-shaped Ceylon sapphire weighing 14.66 and 15.51 carats respectively, suspended from an old cushion-shaped diamond weighing 0.94 carats. The sapphires captivated with their rich saturation and classic symmetry, creating a striking contrast with the brilliance of the antique-cut diamonds. According to the SSEF report, both sapphires are of Ceylon origin and show no indications of heating—further enhancing their rarity and desirability. Notably, the 15.51-carat sapphire was described as 'Royal Blue,' a coveted designation reserved for stones of the highest color quality. Accompanied by GIA dossiers, the diamonds were graded G and I color, with VS1 and SI1 clarity, respectively. Elegant and timeless, this pair of earrings exemplified the enduring allure of unheated Ceylon sapphires paired with classic antique diamonds.
Cartier Ceylon Sapphire Ring 19.78 Carats
This Cartier Ceylon sapphire ring sold for 305,000 CHF or over $350,000, 77% higher above the high estimate of 70,000 CHF in May 2024. The ring featured a cushion-shaped sapphire weighing 19.78 carats. The accompanied by SSEF report no. 137289, dated 26 March 2024, stating that the sapphire is of Ceylon origin, with no indications of heating. The Ceylon sapphire is slightly violetish blue of strong saturation. The impressive auction result was due to the quality and size of the Ceylon sapphire and very conservative estimate that attracted 6 bidders. Cartier has long history of sourcing the best gem stones for its high jewelry creations.
Tiffany & Co Celyon Sapphire Ring 8.94 Carats
In April 2024, a Tiffany & Co Schlumberger Ceylon sapphire ring sold for 2.2 million HKD or $280,000, 80% above the high estimate of 1.2 million HKD. The ring featured a 8.94 carat Ceylon sapphire and the ring is from the 1960s. The accompanied by AGL report no. 1131496, dated 4 May 2023, stating that the sapphire is of Ceylon origin, with no indications of heating or clarity enhancement. The Ceylon sapphire is of medium blue colour and medium saturation. Jean Schlumberger was the first named designer to create unique jewelry pieces for Tiffany in 1956. The impressive result was a combination of the quality of the Ceylon sapphire and the desirability of Tiffany & Co Schlumberger early pieces by collectors.
Ceylon Sapphire Earrings 22.80 Carats Total Weight
In May 2024, a pair of Ceylon sapphire and diamond earrings sold for 100,000 CHF, almost $120,000, 190% above the high estimate of 35,000 CHF. The earrings featured oval Ceylon sapphires weighing 12.62 carats and 10.18 carats. The Accompanied by SSEF report no. 135908, dated 5 February 2024, stating that the sapphires are of Ceylon origin, with no indications of heating. The Ceylon sapphires are violetish blue of light to medium saturation. The impressive auction result was due to the size, quality and match of the Ceylon sapphires and very conservative estimates that attracted 6 bidders,
Advantages to Buying Ceylon Sapphires on the Secondary Market
There are many advantages to buying Ceylon sapphires at Sotheby's. As one of the largest and most established global luxury secondary markets, Sotheby's offers clients many unique advantages when growing a sapphire collection.
1. Access
Sotheby's is able to provide access to a curated selection of Ceylon sapphires from its long established global network of sellers. Sotheby's is a leading global marketplace that offers pristine sapphire jewelry in the most rare and collectible gemstones from an assortment of designers. Our jewelry specialists are always sourcing the most desirable sapphire jewels from collectors around the world. Sotheby's also sells incredible private collections that include one of a kind Ceylon sapphires.
2. Flexibility
Sotheby's provides multiple ways to purchase Ceylon sapphires including auction, online and in person in New York, Hong Kong, Paris and London. Sotheby's also offers a concierge service if you need assistance sourcing specific sapphire jewels that aren't available at auction or online.
3. Value
As a leading global secondary market, Sotheby's often provides great value for Ceylon sapphires. While Sotheby's regularly sells diamond jewelry over $600,000, many of these diamond jewels sell for below the original retail price. Signed diamond pieces can experience a 30 to 40% decrease from retail price to secondary market. Non-signed diamond pieces may fluctuate based on the current market price for the raw materials themselves. The discount varies depending on the jewelry's design, quality, size of the diamond and gem stones, and overall market conditions. Some diamond jewelry can also sell at a premium to the original retail, especially for one of a kind vintage designs, diamond jewelry with provenance linked to celebrities and/or royalty, and pieces featuring exceptionally rare diamonds and colored gem stones. Sotheby's is a great place to start collecting diamond jewelry. Sotheby's also provides seasoned collectors value for vintage diamond jewelry at prices that can be materially lower than retail replacement values.
4. Discovery
One of the best parts of a global luxury secondary market is discovering unique pieces from decades earlier and custom designed one of a kind sapphire jewelry pieces. Sotheby's curated selection changes regularly and each auction has a unique selection of sapphire jewelry. You are likely to discover something new to you.
Buy and Sell Ceylon Sapphire Jewelry at Sotheby's
Natural Ceylon Sapphires are rare and highly collectible gemstones. Ceylon sapphire rings are the most popular jewelry choice for highlighting the beauty of a single sapphire. Since Princess Diana’s famous royal blue Ceylon sapphire engagement ring, sapphires have also become a very popular engagement ring choice. Sotheby's also sources stunning necklaces, earrings, bracelets and brooches featuring natural Ceylon sapphires. Prices for Ceylon sapphire jewelry ranges from $10,000 to $100,000, depending on the size and quality of the sapphires, setting and provenance.
At Sotheby's, we have several ways to buy high-quality unheated Ceylon sapphire jewelry. We have jewelry auctions in New York, Geneva, Paris, and Hong Kong every year with a curated selection of Ceylon sapphire rings and other sapphire jewelry. Sotheby's also has a curated selection of high-quality unheated Ceylon sapphire jewelry available for immediate purchase.
- Explore upcoming jewelry auctions in New York, London, Switzerland, Paris, and Hong Kong.
- Contact a Salon Associate in New York or Hong Kong to schedule an appointment.
- Speak to a Jewelry Specialist about selling a Ceylon Sapphire.
Trust our worldwide network of leading jewelry specialists from a globally renowned auction house established in 1744.
