The legendary Rainbow Collection more than 300 fancy coloured diamonds amassed over four decades by the late Eddy Elzas sold for just above its low estimate at Christie’s Geneva on 11 November, achieving $2.19 million against a pre-sale estimate of $1.98 million to $2.98 million.
Comprising around 350 carats and spanning the full colour spectrum, the collection was once hailed as one of the world’s most extraordinary private assemblages of fancy coloured diamonds. Over the years, press reports placed its value between $60 million and $100 million.
Elzas, affectionately known as “The King of Coloured Diamonds,” famously declined a lavish offer from a Saudi prince who reportedly wished to purchase the collection as a wedding gift for Prince Charles and Lady Diana.
A true pioneer in the fancy colour diamond trade, Eddy Elzas was instrumental in elevating global recognition of coloured diamonds during his 40-year career. He passed away in November 2021 at the age of 79.
Christie’s described the Rainbow Collection as “an impressive collection of unmounted coloured and treated coloured diamonds,” featuring 300 stones across an array of hues and shapes. The lot included 291 GIA reports dated between 2008 and 2025, with diamonds ranging from 0.24 carats to 4.89 carats in yellow, orange, blue, pink, red, brown, and grey tones.
For the DCLA, this sale highlights not only the enduring fascination with fancy colour diamonds but also the evolving market perception of rarity and provenance in today’s auction landscape.
The magnificent 42.68-carat Vanderbilt Sapphire, a gem steeped in the legacy of the Vanderbilt shipping and railroad dynasty, achieved an impressive $3.6 million at Phillips Geneva Jewels Auction: V more than double its high estimate of $1.5 million.
This sugarloaf-cut, unheated Kashmir sapphire, renowned for its velvety royal blue hue, was mounted in a 20th-century Tiffany & Co. brooch of elegant openwork scroll design, accented with white diamonds.
The sapphire was the undisputed highlight of the Geneva sale, held on 10 November, which totalled $17 million with 85% of the 114 lots sold.
While the highly anticipated 6.95-carat Golconda fancy vivid purplish pink diamond was withdrawn by mutual agreement between Phillips and the consignor, other notable results included a 10.08-carat light pink-brown diamond that achieved an auction record for its colour category, selling for $881,000 against an estimate of $650,000.
The event drew over 1,600 visitors to the preview and sale, with bidders from 44 countries, underscoring the strong global demand for exceptional natural gemstones and historic jewels.
Benoit Repellin, Phillips’ Worldwide Head of Jewellery, commented:
“The results of today’s sale attest to the enduring appeal of period jewels and the discerning eye of our international clients. To bring the jewels of the Vanderbilt family to the world’s stage was a moment of profound privilege.”
For collectors and connoisseurs, the Vanderbilt Sapphire’s result reaffirms the continued strength of the market for unheated Kashmir sapphires and heritage pieces with notable provenance a testament to their rarity, beauty, and timeless allure.
The legendaryMellon Blue Diamonda 9.51-carat fancy vivid blue, internally flawless gem sold for$25.5 million USDatChristie’s Magnificent Jewels auctionin Geneva this week. The sale, held at the Four Seasons Hotel des Bergues, drew global attention from elite collectors and gem enthusiasts alike.
The Mellon Blue once belonged to renowned art collector Rachel Lambert “Bunny” Mellon, whose refined taste and cultural influence continue to shape the world of art and jewellery. Despite its exquisite pedigree, the price achieved represents a 22 percent decrease from its previous sale 11 years ago and a nearly 60 percent drop in real value when adjusted for inflation.
Originally auctioned at Sotheby’s in 2014 as part of Mellon’s estate collection, the diamond fetched $32.6 million USD, setting a world record for a blue diamond at that time. Adjusted for inflation, that sum equates to approximately $44.7 million in 2025.
Christie’s had estimated the gem between $20 million and $30 million, and the final sale once again highlighted the continuing prestige of exceptional coloured diamonds despite softer market conditions.
Rahul Kadakia, Christie’s Chairman of Global Luxury and President of Asia Pacific, remarked:
“It was a true honour to offer for sale the exquisite Mellon Blue Diamond here at Christie’s Geneva. It was another notable moment for Christie’s Luxury, evidencing the elite appetite amongst collectors for extraordinary and storied gems.”
The winning bidder, identified only as a collector from Hong Kong, continued the stone’s legacy of global fascination.
While the Mellon Blue once held the world record for a blue diamond, that benchmark has since been overtaken by two other remarkable stones:
The 14.62-carat Oppenheimer Blue, sold at Christie’s in 2016 for $57.5 million USD
The 15.10-carat De Beers Cullinan Blue, sold by Sotheby’s in 2022, also for $57.5 million USD
These historic sales underline the rarity and enduring appeal of fancy vivid blue diamonds, which represent less than 0.1 percent of all diamonds, and of those, fewer than 1 percent qualify as fancy vivid.
Bunny Mellon, who passed away in 2014 at age 103, was celebrated not only for her wealth being heiress to the Listerine and Mellon fortunes but also for her artistry and impeccable taste. She famously designed the White House Rose Garden and curated an impressive art collection that included two Rothko masterpieces, which together realised $76 million USD at auction.
When Christie’s announced the diamond’s return to auction earlier this year, Kadakia described the sale as a tribute to Mellon’s lasting influence, saying her legacy “elevates the Mellon Blue’s allure by tying it to her sophisticated aesthetic and cultural prominence.”
The auction itself was as heated as the competition literally with the auctioneer requesting the windows be opened mid-sale to cool the room as bidding intensified.
About DCLA: The Diamond Certification Laboratory of Australia (DCLA) is the official CIBJO-recognised diamond laboratory in Australia, specialising in independent diamond grading and certification. DCLA ensures the highest international standards of accuracy, integrity, and transparency in diamond evaluation.
Each November, Geneva takes centre stage in the world of fine jewellery, and Sotheby’s 2025 High Jewellery and Royal & Noble Jewels sales reaffirm why the city remains its beating heart. This year’s auctions bring together a breathtaking display of natural diamonds, historical heirlooms, and masterful craftsmanship that celebrate centuries of artistry and provenance.
At the forefront of the Sotheby’s High Jewellery Sale is The Glowing Rose, an extraordinary 10.08-carat Fancy Vivid Pink diamond estimated at around USD 20 million. Its rare, “pure pink” hue—free from secondary tones—places it among the most valuable gemstones in existence. Comparable to celebrated stones such as the Williamson Pink Star and Pink Legacy, this exceptional diamond embodies the geological miracle of atomic distortion, which gives natural pink diamonds their ethereal glow. Stones of this size and purity are exceedingly rare, making The Glowing Rose the undeniable star of the season.
Colour remains the hallmark of this year’s Geneva sale. A pair of Fancy Vivid Yellow diamond earrings, weighing 38.66 and 38.88 carats, are expected to achieve between CHF 2,000,000 and CHF 3,800,000. Their radiant colour intensity and impressive carat weight represent the highest standards of fancy diamond grading. Equally captivating is a 4.50-carat Fancy Vivid Blue diamond, internally flawless and estimated at CHF 4,400,000 to CHF 5,800,000. The blue hue, caused by trace boron, adds to its rarity and appeal, offering collectors the coveted trifecta of exceptional colour, clarity, and size.
Among the coloured gemstones, a 7.69-carat “Royal Blue” Kashmir sapphire set in a ring-pendant combination by Van Cleef & Arpels is a standout. Revered for their velvety “sleepy” lustre, Kashmir sapphires are among the most desirable in the world, and this piece exemplifies the pinnacle of gemological beauty. Further artistry is showcased through a pair of sapphire, tsavorite garnet, and diamond earclips by JAR—vividly imaginative and estimated at CHF 300,000 to CHF 500,000—reflecting the contemporary genius of Joel Arthur Rosenthal.
The sale also includes signature creations by Van Cleef & Arpels, Cartier, Graff, and De Grisogono. Highlights include a 10.04-carat marquise-shaped D-colour diamond ring by Graff (VVS2 clarity, estimated CHF 320,000–560,000) and a De Grisogono ruby and diamond bombé ring featuring two step-cut diamonds (estimated CHF 55,000–75,000).
In tribute to a century of Art Deco design, Sotheby’s presents an array of geometric masterpieces from Cartier and Van Cleef & Arpels, embodying the symmetry and elegance that shaped modern jewellery aesthetics. Two private collections will also headline the event: one dedicated exclusively to Van Cleef & Arpels, and another—Aria of Jewels: The Collection of Antje-Katrin Kühnemann—featuring exceptional Cartier and De Grisogono pieces from the late philanthropist’s private trove.
The Royal & Noble Jewels: A Journey Through History
Complementing the High Jewellery Sale, Sotheby’s Royal & Noble Jewels auction unveils some of the most historically significant diamonds and heirlooms ever offered. Among them is a diamond brooch once owned by Emperor Napoleon Bonaparte, lost during his flight after Waterloo and later recovered by the Prussian Royal family. After more than two centuries in private hands, it now re-emerges for the first time at auction.
Also featured is a light pink diamond ring with royal lineage, once belonging to Empress Catherine I of Russia and later to Princess Neslishah Sultan, estimated between CHF 240,000 and CHF 400,000. A natural pearl and diamond jewel formerly owned by Cunegonde of Saxony (cousin of Louis XVI) carries an estimate of CHF 340,000 to CHF 500,000, while a diamond tiara with a wild roses motif from the Duchess of Portland (1774–1844) is expected to fetch CHF 100,000 to CHF 170,000.
Adding to the grandeur is a Cartier emerald and diamond necklace featuring an 11.78-carat Colombian emerald, commissioned in 1932, exemplifying Art Deco refinement and royal provenance.
Celebrating Provenance, Craftsmanship, and Natural Rarity
From Napoleon’s lost brooch to The Glowing Rose, Sotheby’s Geneva continues to highlight how exceptional gems transcend beauty—they embody heritage, artistry, and history. These November 2025 auctions remind the world that in fine jewellery, rarity, provenance, and craftsmanship remain the ultimate symbols of enduring value.
About DCLA The Diamond Certification Laboratory of Australia (DCLA) is the official CIBJO-accredited laboratory for Australia, recognised for its expertise in diamond grading and certification. DCLA continues to support transparency and integrity within the global diamond trade, celebrating events such as Sotheby’s Geneva that showcase the brilliance and authenticity of natural diamonds.
A rare Fabergé masterpiece — the Winter Egg, crafted in 1913 from rock crystal and adorned with 1,660 diamonds — is set to reclaim its world record with an estimated sale price exceeding $27 million when it goes under the hammer at Christie’s London on 2 December.
Commissioned by Tsar Nicholas II as an Easter gift for his mother, the Dowager Empress Maria Feodorovna, the exquisite egg was designed by Alma Theresia Pihl, one of only two female artists to ever design for the House of Fabergé.
Standing four inches tall, the Winter Egg opens to reveal a platinum trelliswork basket of carved quartz flowers, each delicately set with rose-cut diamonds and demantoid garnet centres, resting on a base of gold moss. The egg itself sits upon a rock-crystal plinth shaped like melting ice, symbolising the transition from winter to spring — a theme often celebrated in Fabergé’s Imperial creations.
The piece will be the centrepiece of The Winter Egg and Important Works by Fabergé from a Princely Collection sale. Christie’s confirmed the estimate is “in excess of £20 million” (US$26.9 million).
The Winter Egg has twice held the world record for a Fabergé piece sold at auction — fetching $9.1 million in Geneva in 1994 and $9.6 million in New York in 2002. The current record holder, the Rothschild Egg, achieved $11.9 million at Christie’s London in 2007, a benchmark the Winter Egg is now poised to surpass.
Between 1885 and 1916, the House of Fabergé produced 50 Imperial Easter Eggs, with 43 known to survive today. Most reside in museum collections, while only seven, including the Winter Egg, remain in private hands — making this sale a landmark moment for collectors and historians alike.
Christie’s is preparing to present one of the most important diamonds to appear at auction in recent years – The Mellon Blue. Estimated at $20 million to $30 million, the 9.51-carat fancy vivid blue pear-shaped diamond will headline the Geneva Magnificent Jewels sale on 11 November at the Four Seasons Hotel des Bergues.
If it reaches the top of its estimate, The Mellon Blue will once again secure its place among the world’s most valuable fancy blue diamonds.
A Rare and Flawless Gem
This remarkable diamond is graded Internally Flawless, and its vivid colour saturation and elegant pear shape make it one of the finest fancy blue diamonds to come to market this year. It has been mounted at the tip of a diamond-paved swirl ring, highlighting its exceptional fire and brilliance.
Provenance: Bunny Mellon
The diamond takes its name from Rachel “Bunny” Mellon (1910–2014), the renowned American philanthropist, horticulturalist, and art collector. Mellon, who designed the White House Rose Garden for President John F. Kennedy, was equally admired for her refined taste in jewellery.
Her estate sale at Sotheby’s in 2014 achieved an extraordinary $218 million, with the jewellery collection alone fetching more than $45 million. Among the highlights of that auction was this very diamond, then weighing 9.75 carats and sold as the “Zoe Diamond,” which realised $32.6 million – setting world records for both price per carat and overall price for a blue diamond at auction.
Returning to the Public Eye
Now renamed The Mellon Blue in honour of its most celebrated owner, the diamond will be unveiled to the public in Hong Kong (23–28 October) and Geneva (7–11 November) ahead of the sale. Christie’s has also announced that the Geneva auction will feature important jewels by Harry Winston, Cartier, JAR, and Van Cleef & Arpels.
Rahul Kadakia, Christie’s International Head of Jewellery, commented:
“This stunning fancy vivid blue diamond, once belonging to America’s ‘Garden Queen,’ is among the finest coloured diamonds to appear for sale at auction. We look forward with great anticipation to its return.”
The November 11 auction of The Mellon Blue will conclude a week-long series of high-profile jewellery and watch sales in Geneva.
A remarkable piece of royal history captivated the global jewellery market this week. The 10.38-carat “Marie-Thérèse Pink Diamond” achieved more than USD $13.9 million (including buyer’s premium) at Christie’s New York Magnificent Jewels auction, nearly doubling its high estimate. The hammer price alone reached USD $11.8 million.
This fancy purple-pink, modified kite brilliant-cut diamond boasts not only exceptional rarity and colour but also a royal provenance tracing back through French, Bavarian, and Austrian imperial families. It was most recently set in a ring by renowned Franco-American jewellery artist JAR, further enhancing its artistic and collectible value.
According to Christie’s, the pink diamond is believed to have been part of a group of jewels entrusted by Marie Antoinette to her hairdresser in 1791, just before her attempted escape from Paris. These jewels were later passed to her only surviving child, Duchess Marie Thérèse de Angoulême, and subsequently to her niece, Duchess Marie Thérèse de Chambord.
“Generations later,” Christie’s noted, a will identified Queen Marie Theresa of Bavaria as the next known custodian of the gem, referring to it as “a pink solitaire diamond from Aunt Chambord.” The diamond last appeared at auction in Geneva in 1996, offered by a European royal family member, and had remained out of public view until this recent sale.
The impressive result underscores continued global demand for rare, historically significant coloured diamonds — particularly those with noble provenance.
Christie’s Geneva sold 100 per cent of lots at its Magnificent Jewels yesterday (14 May) and raised $72.3m – despite the withdrawal of the sale’s main attraction, the 23.24-carat Golconda Blue.
It carried a $35m to $50m estimate and would have been the largest fancy vivid blue diamond ever offered at auction. But consignors pulled the gem with less than three weeks’ notice, saying it would be sold a family member instead.
The new top lot was another blue, an emerald-cut 6.24-carat fancy deep blue diamond (pictured) that was sold to London-based Moussaieff Jewellers for $12.7m. Christie’s said it set an auction record price per carat for a deep blue jewel.
A fancy, vivid blue oval-shaped diamond ring of 3.68 carats set by Graff, sold for $5.8m to Lawrence Graff.
And a private collection of 21 pieces by JAR (Joel Arthur Rosenthal) sold for $7.1m, with a diamond necklace selling for $2.8m, almost five times its pre-sale estimate.
Christie’s said the auction raised $72.3m, with 77 per cent of the 115 lots selling above their high estimate. By comparison, last year’s Magnificent Jewels auction raised $54.2m.
