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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

Israel’s Diamond Industry Hits Record Lows

From January To June 2026, Israel Exported Only $2.4 Billion In Diamonds. At Its Peak In 2015, That Figure Was Around $7 Billion—More Than Three Times Higher.

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Israel’s diamond exports have dropped dramatically to their lowest levels in history. Reflecting these difficult times, the head of the Israel Diamond Exchange has announced his resignation.

Key Numbers

  • Massive Drop in Exports: From January to June 2026, Israel exported only $2.4 billion in diamonds. At its peak in 2015, that figure was around $7 billion—more than three times higher.
  • Total Trade Shrinking: Total industry trade (combining imports and exports) fell to $4 billion, down from $12 billion during its best years.

Why Is the Industry Struggling?

  1. Competition from Dubai: Dubai has become a major global diamond hub, drawing traders away from Israel with lower tax rates.
  2. Lab-Grown Diamonds: Man-made diamonds are significantly cheaper than natural ones, taking away a large portion of the market.
  3. New U.S. Tariffs: A new 10% import tax on diamonds was recently introduced by U.S. President Donald Trump. Since the U.S. buys about 20% of Israel’s diamond exports, this tax hits the local industry hard.
  4. Shifting Consumer Habits: Younger buyers are spending more money on experiences rather than luxury jewelry. Additionally, diamond demand in China has slowed down significantly.

Global Impact & What’s Next

The downturn isn’t just affecting Israel; it is a global issue. Even De Beers—one of the world’s biggest diamond companies—has been put up for sale for the first time ever.

Despite these setbacks, Israel still holds key advantages in the market, such as strong client relationships and deep expertise in cutting large, rare, and colored diamonds. Israeli officials are currently negotiating with the U.S. to lower the new tariffs and working with their own government for tax relief to help the industry bounce back.

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