Emeralds are the jewels of kings. Its most prominent characteristic is color, which ranges from bluish to vivid green. What makes a high-quality stone stand out from the rest is its bright, rich, and evenly distributed hue. Moreover, its color influenced the symbolic meaning that was prescribed to this gem, as people associated it with rebirth, balance, and vitality. And again, green is the color of the heart chakra; it is no surprise that emerald is linked to it and believed to enhance intuition and promote emotional healing. If we go back to earthly affairs, emeralds enjoy prestige as they are valued in high jewelry collections.
A new record for the world’s most expensive emerald ever sold at the bidding event was set at Christie’s. The iconic Aga Khan rock advanced the benchmark for these stones at sales. While the predicted value was between $6 and $8 million, a lucky buyer managed to get it for $8.8 million. The sale item is a box-shaped Colombian emerald with 20 marquise-cut diamonds around it. After testing, the Swiss Gemstone Laboratory confirmed that the gemstone is rare and outstanding, with no signs of inclusion reduction.
Experts say that items similar to this emerald, those connected to famous personas and which have a story to tell, are the most desirable lots nowadays. The exceptional brooch is more than a valuable thing because it is a symbol of the era that embodies its charm and spirit. Also, the demand for heritage jewelry that has a signature from a recognized designer or brand and colored jewels is higher than ever before.
We should mention that the Aga Khan emerald triumphed over another iconic item – Bulgari’s brooch, which held the top place since 2011. It belonged to a legendary British-American actress and philanthropist, Elizabeth Taylor, and brought in 6.5 million US dollars.
However, not all records were broken. Seven years ago, the Rockefeller emerald (18.04-carat) was bought by an American jeweler Harry Winston for five and a half million dollars in total, meaning one carat price was more than $300,000, which is still the highest value paid for the stone of Kings at a bidding event. Aga Khan emerald weighs almost 37.41 carats, so one carat costs nearly $238,000.
So, what is the story behind this treasured green brooch? Who were its previous owners? It was designed by Cartier in Paris sixty years ago at the request of Prince Sadruddin Aga Khan. As you might have guessed, it was crafted for a beloved woman, Nina Dyer, a model and society star in Britain. The item was dear to her heart as she often put it on to high-profile occasions.
Dyer was famous for her stunning jewelry collection, showcasing the luxury of her time. She also cared for animals and adored cats, as she owned some animalistic jewelry. For example, a “Black Alley Cat” pin was made by Cartier in the early 1960s. It was listed for bidding in September this year.
Nina Dyer tragically passed away in 1969. In her will, it was specified that the green accessory must be placed under the hammer, and the funds raised should go to the initiatives and organizations protecting animals in different parts of the world. Her ex-husband carried out the will, and this jewelry item was sold to Van Cleef & Arpels for $75K, which was twice more than the appraisal value. Later, it was redesigned by Harry Winston in such a way that a future owner could wear it as a pendant, too.
The catalog for Christie’s first-ever Magnificent Jewels auction and the photo of the action itself held in Geneva on May 1, 1969, spotlighting the treasured collection of the late Nina Dyer.
In 1969, the first time the brooch was put on auction, it became a highlight of Christie’s sale, which was exclusively dedicated to jewelry. Buyers could choose from more than 40 lots, most of which were late Dyer’s jewelry items. It should be mentioned that it was the first event of this kind held in Switzerland by a worldwide auction house. And it turned out to be a hit, bringing in more than $14.4 million (CHF 12.7 million).
Video presentation of the brooch from the Christie’s website
This year’s sale was held at the Four Seasons Hotel des Bergues, attracting buyers from almost forty countries. It showed increased buyer interest and competitive bidding as 92 of the 103 lots were sold, and nearly two-thirds of the items fetched more than their highest pre-sale predictions. This highlights a trend of higher-than-expected buyer willingness to pay, possibly driven by the rarity, quality, and prestige of the pieces offered. Christie’s “Magnificent Jewels” auction achieved $54.7 million, pushing boundaries for the upcoming events in New York, London, and Paris. And despite tough economic conditions, representatives at Christie’s say that this year was unique and remarkable.
