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Home News 94-Carat Paraíba Tourmaline “The Blue Lagoon” Withdrawn from Sotheby’s Auction

94-Carat Paraíba Tourmaline “The Blue Lagoon” Withdrawn from Sotheby’s Auction

by Madonna

Geneva, November 10, 2023 — Sotheby’s much-anticipated jewelry auction in Geneva proceeded as scheduled on Wednesday, albeit with a notable absence—the withdrawal of the extraordinary 94-carat Paraíba tourmaline known as “The Blue Lagoon.”

Anticipated to be the largest top-quality Paraíba tourmaline ever presented at auction, “The Blue Lagoon” had an estimated value of 1.3 million-2.5 million CHF, equivalent to $1.4 million-$2.7 million.

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Sotheby’s confirmed the withdrawal, stating, “’The Blue Lagoon’ is an exceptional stone; however, the lot was withdrawn prior to the sale following discussions with the consignor.” The auction house did not elaborate further on the reasons behind the decision.

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Despite the absence of this prized gem, Sotheby’s Magnificent Jewels and Noble Jewels sale successfully achieved 41.8 million CHF ($46.5 million), falling within the estimated range of 37.9-58.1 million CHF ($42.1 million-$64.6 million).

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Catharine Becket, Sotheby’s head of Magnificent Jewels, Geneva, noted the success of the auction, stating, “Sapphires from Sri Lanka surpassed expectations, fetching multiples of their pre-sale estimates. White diamond solitaire rings also performed exceptionally well, reinforcing their status as industry cornerstones.”

The auction showcased other notable pieces, including the 103.62-carat “Love Stone,” a natural fancy intense yellow diamond ring, which sold for nearly $2.5 million, within its estimate of $2 million-$4 million.

Additionally, the piece titled “Kallima,” featuring a fancy vivid yellow diamond set with emerald and diamond, sold for $960,000, surpassing its estimate of about $400,000-$510,000. This bespoke item, inspired by a genus of butterflies native to Southeast Asia, was commissioned by a collector.

Several emerald jewelry pieces also commanded prices above their high estimates, notably the Cartier “Drapery” demi-parure, circa 1958, which fetched $508,000, slightly exceeding its estimate.

While a 19.03-carat Kashmir sapphire failed to find a buyer within the estimated range of $1 million-1.5 million, other blue-hued gems, including Ceylon and Kashmir sapphires set in jewelry, exceeded expectations.

A pair of fancy intense blue and fancy deep blue diamond earrings surpassed their estimate of $510,000-$710,000, selling for more than $1 million. Furthermore, a 4-carat fancy intense green diamond ring saw fervent bidding, ultimately selling for $1.8 million, falling within its pre-sale estimated range.

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