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Historic Mughal Emerald Jewels to Lead Christie’s Magnificent Jewels Auction in New York

Over 2,000 carats of rare Mughal-era emeralds and multi-gem treasures — including a 470-carat centerpiece — headline a landmark sale alongside prestigious pieces from Anne Bass and Lucille Coleman collections.

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Christie’s will showcase an extraordinary array of Mughal jewels at its upcoming Magnificent Jewels auction in New York on June 17, led by a remarkable carved emerald necklace bearing over 1,150 carats of Colombian emeralds. The historic piece is inscribed with the name Ahmad Shah Durrani, founder of the Durrani Empire, and features a massive 470-carat central emerald. Dating back to 1612, this jewel is steeped in royal heritage and has been linked in historical records with other legendary gems such as the Timur Ruby and the Koh-i-Noor diamond. It carries a pre-sale estimate of up to $3 million.

Two additional Mughal masterpieces will also feature in the sale. One is a multi-gem necklace set with four Colombian emeralds totaling nearly 800 carats, expected to fetch up to $3 million. The other is a remarkable necklace strung with over 2,000 carats of spinel and natural pearls, with eight stones engraved with the names of influential rulers including Delhi Sultan Muhammad ibn Tughluq, Mughal emperors Babur, Jahangir, and Shah Jahan. That piece is estimated to sell for as much as $2 million.

These jewels will be presented alongside the personal collection of philanthropist Anne Hendricks Bass, which includes 26 pieces from esteemed design houses such as Van Cleef & Arpels, Bulgari, Cartier, and JAR. A standout from this collection is a pair of Van Cleef & Arpels diamond pendant earrings, estimated at up to $1.8 million, and a JAR sapphire, emerald, and diamond necklace, valued at up to $300,000.

Also featured in the auction is a group of nine Van Cleef & Arpels Mystery-Set jewels from the collection of philanthropist Lucille Coleman, described by Christie’s as a “significant” highlight of the sale.

With its blend of historical depth and iconic 20th-century design, the June auction promises to be one of the most compelling jewelry events of the year.

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International News

De Beers Assumes 100% Control Of Gahcho Kué Diamond Mine

A Global Slump In Diamond Demand Hit The Company Hard. Its Revenue Dropped 42% In 2025, and Average Diamond Prices Plummete

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De Beers is taking 100% control of the Gahcho Kué diamond mine in Canada’s Northwest Territories. Its partner, Mountain Province Diamonds, was facing major financial trouble and agreed to hand over its 49% share in exchange for being cleared of all its debts to De Beers.

​Here is why Mountain Province ran into trouble:

​Falling Diamond Prices: A global slump in diamond demand hit the company hard. Its revenue dropped 42% in 2025, and average diamond prices plummeted—falling to just $36 per carat in the second quarter.

​Massive Debt: Mountain Province was struggling to pay back tens of millions of dollars in short-term loans. Ratings agency S&P warning that the company was at high risk of defaulting on its debts.

​Cost-Cutting and Emergency Funds: To stay afloat, the company paused expansion plans at the mine, delayed payments into environmental cleanup funds, and sold future diamond sales rights to major investor Dermot Desmond (an Irish billionaire) for quick cash.

​Despite selling twice as many diamonds recently, prices were too low to cover their debts.

CEO Jonathan Comerford explained that trade tariffs and Middle East conflicts crushed diamond prices, leaving handing over their share of the mine as the best option to cancel liabilities and secure local jobs.

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