International News
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.
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.
International News
Gemfields Auctions Revenue Falls Short Of Expectations In 2025
Auction Revenue Slumps to $129m As Demand Skips Smaller Good
Gemfields reported disappointing auction revenue of just $129 million from its seven sales in 2025, well below expectations amid fragile market sentiment and persistent volatility. Demand proved uneven, with buyers shunning lower-quality and smaller-sized goods while showing more interest in premium material.
The coloured-gemstone miner, which operates the Kagem emerald mine in Zambia and the Montepuez ruby deposit in Mozambique, faced operational setbacks at both sites, including delays to Montepuez’s second processing plant, illegal mining, and grade volatility. These issues curtailed premium ruby output, disrupted auction schedules, and reduced cash generation despite tight cost control.
Pricing for high-quality emeralds and rubies improved progressively throughout the year. To strengthen its balance sheet, Gemfields prioritised deleveraging, including the $50 million sale of its luxury brand Fabergé. The company expects plant delays to persist into the first half of 2026 and will release full-year results on 26 March.
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