International News
Christie’s Presents The Regent Kashmir and The Regal Ruby
Christie’s proudly presents The Regent Kashmir, a 35.09 carat Kashmir sapphire, and The Regal Ruby, a 13.22 carat Burmese ruby, both set as rings. These two extraordinary jewels will lead the Magnificent Jewels live auction on 27 May during Hong Kong Luxury Week at Christie’s Asia Pacific headquarters at The Henderson. Representing the pinnacle of beauty and quality, this sale continues Christie’s presentation of the most outstanding coloured gemstones to the market. The gems will be on display from 25– 28 March at Christie’s at The Henderson.
The Regent Kashmir (estimate: HK$65,000,000 – 95,000,000 / US$8,300,000 – 12,000,000), a 35.09 carat sapphire of historic significance, is the most valuable piece of Kashmir sapphire jewellery offered at Christie’s globally in the last five years. Renowned for its enthralling velvety blue hue, exceptional clarity, and incredibly rare origin, The Regent Kashmir is a once-in-a-generation masterpiece destined to attract significant interest from collectors and enthusiasts worldwide.
The Regal Ruby (estimate: HK$50,000,000 – 80,000,000 / US$6,400,000 – 10,000,000), an incredibly rare 13.22 carat ruby, is poised as the most valuable and largest Burmese ruby to be sold at Christie’s in Hong Kong in a decade. Top-quality unheated rubies exceeding five carats are particularly scarce and this highly desirable natural treasure stands out for its intense colour, exceptional transparency, and remarkable rarity.
Other highlights from the Magnificent Jewels live auction include a 10.35 carat Colombian no oil emerald and diamond ring (estimate: HK$6,800,000 – 9,800,000 / US$870,000 – 1,260,000) as well as a pair of 7.03 and 6.92 carats Colombian no oil emerald and diamond earrings (estimate: HK$5,500,000 – 7,500,000 / US$700,000 – 960,000). These stunning jewels will also be on display from 25 – 28 March at Christie’s at The Henderson.
DiamondBuzz
Diamond Slump forces Debswana to diversify into copper, platinum and solar
Diamond-centric mining models is giving way to broader resource portfolios
Debswana Diamond Company, the 50–50 joint venture between the Botswana government and De Beers, is moving to diversify into copper, platinum and renewable energy as the prolonged downturn in natural diamond demand pressures earnings and forces the industry to rethink its growth strategy.
The company’s board has approved plans to invest in a portfolio of non-diamond projects after revenue fell 46% in 2024, the latest available financial year, highlighting the scale of the downturn in the global diamond market.

The move signals a strategic shift toward commodities with stronger long-term demand fundamentals, particularly copper, which is central to global electrification and energy-transition infrastructure.
Debswana’s diversification reflects a broader industry pivot as diamond producers confront weak consumer demand, rising competition from lab-grown stones and elevated inventories across the supply chain.
The shift is also visible among smaller exploration companies. Botswana Diamonds recently rebranded as Botswana Minerals, signalling its own strategic focus on copper exploration rather than diamonds.
Together, these moves underscore a growing consensus across the sector: the era of diamond-centric mining models is giving way to broader resource portfolios anchored in energy-transition metals.
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