Rare Imperial Russian jewels, including Catherine the Great’s diamonds, and a Faberge necklace from the reign of Nicholas II, are to be offered for sale by Sotheby’s New York.
“It is difficult to overstate their rarity and historical importance,” said the auction house as it announced its Artistic Luxury: Faberge, Gold Boxes, Silver & Ceramics Art sale, on 17 June.
“These jewels carry with them a fascinating window into the luxury and opulence of the Russian Imperial court.”
They were confiscated as part of the Russian State Jewels by the Soviet government after the 1917 revolution and have not been seen for over a century.
Three lots – all silver and diamond-set flower dress trimming by Louis David Duval of Geneva – belonged to Catherine the Great (1729 – 1796), with estimates between $30,000 and $80,000.
They were sold by Christie’s on behalf of the Soviet People’s Commissariat of Finance in 1927 to a noted dealer and are currently in a private European collection.
Also being offered for sale is a larger trimming, of diamonds and Ceylon sapphire, that belonged Catherine’s predecessor, Empress Elizabeth Petrovna (1741-1762). Estimate $40,000 – $60,000.
Highlight of the sale is an Imperial Faberge diamond and aquamarine necklace from the reign of Emperor Nicholas II (1868 – 1918) with an estimate of $400,000 – $600,000.
Size, History, Master Cutters and Present Locations
Diamonds have fascinated humanity for centuries. Some became symbols of royal power, others transformed the science of diamond cutting, and a few achieved legendary status because of their extraordinary size and rarity.
The following list combines size, historical importance, rarity and influence on the diamond industry.
1. Cullinan Diamond
Rough Weight: 3,106.75 carats Found: South Africa, 1905 Polished By: Joseph Asscher Current Location: British Crown Jewels
The Cullinan remains the largest gem quality rough diamond ever discovered. It was cut into nine principal diamonds and 96 smaller stones. The largest, Cullinan I, weighs 530.2 carats and remains one of the world’s most famous diamonds.
Estimated Value Today: US$2 billion+ (insurance estimates vary greatly).
2. Golden Jubilee Diamond
Polished Weight: 545.67 carats Found: South Africa Polished By: Gabriel Tolkowsky Current Location: Thailand Royal Treasury
The largest faceted gem quality diamond in the world.
Estimated Value: US$100 million to US$250 million.
3. The Incomparable
Polished Weight: 407.48 carats Found: Democratic Republic of Congo Current Location: Private ownership
A fancy brownish yellow diamond renowned for its size and unusual triangular shape.
Estimated Value: US$20 million to US$50 million.
4. Cullinan I (Great Star of Africa)
Weight: 530.2 carats Current Location: Sovereign’s Sceptre, British Crown Jewels.
5. Cullinan II (Second Star of Africa)
Weight: 317.4 carats Current Location: Imperial State Crown.
6. Centenary Diamond
Weight: 273.85 carats Found: Premier Mine, South Africa Polished By: Master cutters employed by De Beers
One of the most perfect large diamonds ever cut.
Estimated Value: US$100 million+.
7. Koh-i-Noor
Weight: 105.6 carats Current Location: British Crown Collection
Perhaps the most famous diamond in history, originating in India and passing through Mughal, Persian, Afghan and British hands.
Estimated Value: Effectively priceless.
8. Hope Diamond
Weight: 45.52 carats Current Location: Smithsonian Institution
The world’s most famous blue diamond.
Estimated Value: US$250 million to US$350 million.
9. Lesedi La Rona
Rough Weight: 1,109 carats Found: Botswana
One of the largest gem quality rough diamonds ever discovered. Purchased by Laurence Graff for US$53 million.
10. Sewelô
Rough Weight: 1,758 carats Found: Botswana
Second largest rough diamond ever recovered. Acquired by Louis Vuitton and HB Antwerp.
11. Excelsior
Rough Weight: 995.2 carats Found: South Africa
Largest diamond before the discovery of the Cullinan. Cut by the Asscher family.
12. Lesotho Promise
Rough Weight: 603 carats Current Location: Cut into 26 diamonds by Graff.
13. Regent Diamond
Weight: 140.64 carats Current Location: Louvre Museum
One of the finest historic diamonds in existence.
14. Orlov Diamond
Weight: 189.6 carats Current Location: Russian Diamond Fund
15. Daria-i-Noor
Weight: Approximately 182 carats Current Location: Iranian Crown Jewels.
16. Tiffany Yellow Diamond
Weight: 128.54 carats Current Location:Tiffany & Co.
17. Taylor-Burton Diamond
Weight: 69.42 carats
Purchased by Richard Burton for Elizabeth Taylor.
18. Dresden Green
Weight: 41 carats Current Location: Dresden Treasury, Germany
One of the world’s largest natural green diamonds.
The greatest diamonds are not always the largest. The Cullinan remains the most important diamond ever recovered because it transformed royal jewellery and demonstrated the highest standards of large diamond cutting. The Koh-i-Noor shaped centuries of political history, while the Hope Diamond became the world’s most famous coloured diamond.
From the Asscher family’s revolutionary work on the Cullinan in 1908 to Gabriel Tolkowsky’s masterpiece cutting of the Golden Jubilee, these extraordinary stones represent the pinnacle of both nature’s achievement and human craftsmanship. Together they form a unique record of diamond history and remain benchmarks for gemological excellence today.
DCLA Disclaimer: Diamond valuations shown are broad market estimates based on historical sales, insurance valuations, rarity and current market conditions. Many historically significant diamonds are considered priceless because they are held in national collections, museums or royal treasuries and would be unlikely ever to be offered for public sale.
Sotheby’s London is selling a private collection of rare Art Deco Cartier jewelry that once belonged to 1920’s “supermodel” Phyllis Frank (nee Francatelli).
She was an original model for The House of Lucile, the world’s first global couture brand and a groundbreaking British fashion house that was founded in 1894.
Francatelli (1892 – 1972) met and married New York financier, Jesse Frank, who showered her with Art Deco jewels that epitomized Cartier’s mastery of style and design throughout the Roaring 1920s and beyond.
Sotheby’s is offering seven lots, several featuring lapis lazuli, her favorite blue stone.
Highlight of her collection is a pair of diamond bracelets (pictured), circa 1925, millegrain-set with old brilliant-cut diamonds (estimate £ 20,000 to £ 40,000 (USD 27,000 to USD 54,000).
There’s also a diamond bow brooch, a sapphire and diamond bracelet and a lapis lazuli and diamond bracelet.
The House of Lucile, with salons in New York, Paris and Chicago, was founded by visionary British designer Lucy Christiana, also known as Lady Duff Gordon, who pioneered the modern catwalk and the concept of the fashion model.
The global diamond industry has suffered another setback, with Petra Diamonds announcing a business rescue plan for its financially distressed Finsch Mine in South Africa. The move highlights the ongoing pressure facing natural diamond producers after several years of declining prices and weakening demand.
Under South African law, a business rescue practitioner can be appointed when a company is unlikely to meet its financial obligations within the next six months. Petra Diamonds said the decision was necessary to preserve the future of the operation and maximise value for stakeholders.
Petra Chief Executive Vivek Gadodia cited a combination of persistently weak diamond prices and the strength of the South African rand as key factors behind the mine’s financial difficulties. While mining costs have remained elevated, revenue from diamond sales has failed to keep pace, placing significant strain on profitability.
The Finsch Mine, one of South Africa’s most important diamond producing assets, now joins a growing list of operations worldwide that have faced closure, suspension, or restructuring during the deepest downturn the diamond industry has experienced in decades.
A major factor behind the crisis has been the rapid rise of laboratory grown diamonds. The dramatic fall in the retail price of synthetic stones has disrupted traditional diamond markets and placed downward pressure on natural diamond prices. As consumers increasingly compare natural and laboratory grown products, mining companies have been forced to navigate one of the most challenging periods in the history of the industry.
The impact has been felt across the entire diamond supply chain. Russian mining giant Alrosa continues to struggle with weak prices, compounded by geopolitical pressures and sanctions. The company’s share price recently fell to an all time low of 25 rubles, representing a decline of almost 50 per cent over the past year and more than 80 per cent over the past five years.
De Beers has also been forced to confront the new market reality. Parent company Anglo American has recorded a series of substantial write downs on its diamond business, including US$2.3 billion in the most recent reporting period. This follows impairments of US$2.9 billion in 2024 and US$2.6 billion in 2023, reflecting the severe decline in the value of diamond inventories and mining assets.
Despite the continued challenges, there are emerging signs that the worst of the crisis may be passing. Several major producers have significantly reduced rough diamond production over the past two years, helping to rebalance supply with demand. Inventories throughout the pipeline have also been gradually worked down, while the widening price gap between natural and laboratory grown diamonds is reinforcing the unique rarity and investment appeal of natural stones.
Industry analysts are increasingly suggesting that the natural diamond market may be approaching a turning point. Although a rapid recovery is unlikely, production cuts, reduced inventories, and stabilising consumer demand could lay the foundation for a healthier market in the years ahead.
For now, the restructuring of Petra’s Finsch Mine serves as another reminder of the profound transformation taking place within the global diamond industry. However, after years of falling prices and mine closures, there is growing evidence that the sector may finally be moving closer to a long awaited recovery.
A remarkable 32.20 carat Fancy Intense Yellow diamond is expected to headline Bonhams’ Exceptional Jewels auction in New York on 8 June, carrying a pre-sale estimate of US$350,000 to US$550,000.
The auction, which will be held at Bonhams’ newly opened headquarters in Steinway Hall at 111 West 57th Street, will feature an impressive selection of coloured diamonds, exceptional white diamonds, rare coloured gemstones and signed jewellery from some of the world’s most prestigious maisons.
The leading lot is an 18 carat white gold ring centred on a cushion-shaped 32.20 carat Fancy Intense Yellow diamond graded VS2 clarity. The diamond is surrounded by pavé-set round brilliant cut diamonds and originates from the collection of noted philanthropist Glorya Kaufman, whose contributions to the arts included the establishment of the USC Glorya Kaufman School of Dance.
Among the most significant white diamond offerings is a platinum ring featuring an 11.20 carat emerald cut diamond graded E colour and VS1 clarity. The stone carries an estimate of US$250,000 to US$350,000 and comes from the collection of luxury retail pioneer Linda Dresner.
Bonhams will also present an important platinum ring by Harry Winston showcasing a 7.08 carat cushion cut Colombian emerald flanked by tapered baguette cut diamonds. The emerald ring is expected to realise between US$250,000 and US$350,000.
Further highlighting the auction’s strong coloured diamond offering is an 8.23 carat cushion-shaped faint pink diamond ring. The internally flawless diamond is mounted in 18 carat white and pink gold and accented with trapezoid-shaped and round brilliant cut pink and white diamonds. It carries an estimate of US$180,000 to US$280,000.
Bonhams has placed particular emphasis on rare coloured gemstones, led by a striking necklace centred on a 5.02 carat unheated Burmese ruby. The oval-shaped ruby is surrounded by alternating baguette and round brilliant cut diamonds and suspended from a graduated diamond necklace containing approximately 39 carats of diamonds. The piece is estimated at US$100,000 to US$150,000.
Among the standout gemstone lots from the Glorya Kaufman collection is a necklace featuring a 30.61 carat oval-shaped Paraíba-type tourmaline from Mozambique. Mounted in a distinctive 14 carat gold hexagonal frame and suspended from a gold link chain, the necklace is expected to achieve between US$150,000 and US$250,000.
Another notable offering is an impressive platinum necklace by J.E. Caldwell set with step-cut multicoloured sapphires and a central zircon, accented by marquise and round brilliant cut diamonds. Accompanying AGL reports identify the four principal sapphires as originating from Sri Lanka, with three displaying no evidence of heat treatment. The necklace contains an estimated 100 to 120 carats of sapphires and is valued at US$150,000 to US$250,000.
Completing the coloured gemstone highlights is a Bulgari necklace estimated at US$125,000 to US$225,000. The design features oval-shaped multicoloured sapphires separated by pairs of round brilliant cut diamonds and suspends a detachable pendant centred on a 24.10 carat pear-shaped yellow sapphire of Sri Lankan origin.
The sale demonstrates continued strength in the market for important coloured diamonds, unheated gemstones and signed high jewellery, with collectors showing increasing interest in rare stones accompanied by notable provenance and prestigious brand associations.
