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While the highly anticipated 6.95-carat Golconda fancy vivid purplish pink diamond was withdrawn by mutual agreement between Phillips and the consignor, other notable results included a 10.08-carat light pink-brown diamond that achieved an auction record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.
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.
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.
A 6.21-carat pink diamond will be the star of the second jewelry auction Phillips will hold in Geneva, where it is expected to fetch up to CHF 13.6 million ($15 million).
The fancy-vivid-pink, VS1-clarity, type IIa diamond ring is among several important and rare pieces on offer at the sale, called Geneva Jewels Auction: Two, which will take place on May 13, Phillips said Tuesday. The auction will be at the Hotel President Geneva for the first time, and it will include over 100 specially curated items from well-knowns design houses such as Cartier, JAR, Suzanne Belperron, and Van Cleef & Arpels.
Prior to the sale, Phillips will exhibit the jewels in New York; London; Taipei, Taiwan; and Singapore. The auction house will also hold a simultaneous selling exhibition called “Symbols, Colour and Form,” which will feature jewels from contemporary designers Alix Dumas and DYNE.
Here are the rest of the of the top five items Phillips will feature at the main sale:
This 280.84-carat Colombian emerald is from a private collection. Known as The Amazon Queen, it carries an estimate of CHF 1.4 million to CHF 2.4 million ($1.5 million to $2.6 million).A 27.27-carat, fancy-vivid-yellow diamond ring will also go under the hammer. It is expected to bring in between CHF 1 million and CHF 1.8 million ($1.1 million to $2 million).A pair of earrings set with pear-shaped, D-flawless, type IIa diamonds weighing 10.07 and 10.12 carats has a presale price range of CHF 1.2 million to CHF 1.6 million ($1.3 million to $1.8 million).Phillips will offer this brilliant-cut, 1.56-carat, fancy-red Argyle diamond at the Geneva auction. Named The Argyle Phoenix, it is estimated at CHF 910,000 to CHF 1.4 million ($1 million to $1.5 million).
Russian royal jewels smuggled out of the country during the 1917 revolution, alongside rare coloured diamonds, are on offer at auction next week in Geneva, looking for deep-pocketed collectors emerging from the pandemic.
An orange-pink diamond weighing 25.62 carats, estimated at 3.6 million to 5.38 million Swiss francs ($3.9 million to $5.9 million), set in a ring, is the star lot at auction house Sotheby’s semi-annual jewellery sale in the Swiss city on Nov. 10.
“A beautiful crystal, it’s a fantastic colour with a little bit of orange but not too much, so it’s a very subtle colour,” Olivier Wagner, head of sale and jewellery expert at Sotheby’s Geneva, told Reuters in the showroom in a lakeside hotel.
“The market is currently very dynamic and after the pandemic people are very keen to buy jewellery today and to buy something tangible they can enjoy.”
For collectors of historic gems, a large oval sapphire and diamond brooch and matching earclips from the jewellery box of Grand Duchess Maria Pavlovna, the aunt of the last Russian Emperor Nicholas II, is back on the block.
“They belonged to the Grand Duchess Maria Pavlovna of Russia who was the queen of social life in St. Petersburg. She was the wife of the Grand Duke Vladimir, so the son of the tsar (Alexander II), and she had a fantastic collection of jewels,” Wagner said.
The royal set, entrusted to her friend the British diplomat Albert Henry Stopford, who took them to London for safekeeping along with other jewels, is estimated at 280,000-480,000 francs, the auction house said.
Pavlovna escaped from revolutionary Russia and died in France in 1920. Her brooch and earrings are being sold by a European princely family who bought them at auction in 2009, the auction house said.
Russian royal jewels smuggled out of the country during the 1917 revolution, alongside rare coloured diamonds, are on offer at auction next week in Geneva, looking for deep-pocketed collectors emerging from the pandemic.
An orange-pink diamond weighing 25.62 carats, estimated at 3.6 million to 5.38 million Swiss francs ($3.9 million to $5.9 million), set in a ring, is the star lot at auction house Sotheby’s semi-annual jewellery sale in the Swiss city on Nov. 10.
“A beautiful crystal, it’s a fantastic colour with a little bit of orange but not too much, so it’s a very subtle colour,” Olivier Wagner, head of sale and jewellery expert at Sotheby’s Geneva, told Reuters in the showroom in a lakeside hotel.
“The market is currently very dynamic and after the pandemic people are very keen to buy jewellery today and to buy something tangible they can enjoy.”
For collectors of historic gems, a large oval sapphire and diamond brooch and matching earclips from the jewellery box of Grand Duchess Maria Pavlovna, the aunt of the last Russian Emperor Nicholas II, is back on the block.
“They belonged to the Grand Duchess Maria Pavlovna of Russia who was the queen of social life in St. Petersburg. She was the wife of the Grand Duke Vladimir, so the son of the tsar (Alexander II), and she had a fantastic collection of jewels,” Wagner said.
The royal set, entrusted to her friend the British diplomat Albert Henry Stopford, who took them to London for safekeeping along with other jewels, is estimated at 280,000-480,000 francs, the auction house said.
Pavlovna escaped from revolutionary Russia and died in France in 1920. Her brooch and earrings are being sold by a European princely family who bought them at auction in 2009, the auction house said.
