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
Consortium Led By Former De Beers CEO Gareth Penny Selected As The Preferred Bidder To Acquire De Beers
Botswana is expected to play a pivotal role in the transaction. The country, together with Namibia, Angola and other shareholders, already owns a 15% stake in De Beers
A consortium headed by former De Beers CEO Gareth Penny has been selected as the preferred bidder to acquire De Beers, according to Botswana’s Minister for State President, Defence and Security, Moeti Mohwasa.
Speaking on the development, Mohwasa said Anglo American conducted a competitive sale process involving three shortlisted bidders before identifying the Global Diamond Consortium as its preferred choice.
Anglo American announced plans to divest De Beers in May 2024 as part of a broader restructuring strategy, driven by prolonged weakness in the diamond market and other business priorities.
The sale process has attracted significant interest from industry leaders and investors. Among those previously linked to the bidding were former De Beers CEO Bruce Cleaver, Australian mining executive Michael O’Keeffe, Indian billionaire Anil Agarwal, and Indian diamond companies KGK Group and Kapu Gems.
Botswana is expected to play a pivotal role in the transaction. The country, together with Namibia, Angola and other shareholders, already owns a 15% stake in De Beers and retains important rights under the shareholder agreement. Mohwasa emphasized that Botswana has the flexibility to either join the preferred bidder as a strategic partner or exercise its pre-emptive rights independently or with another investor.
Industry observers believe the eventual owner will seek to preserve De Beers’ vertically integrated business model, spanning diamond mining, trading and global natural diamond marketing, while positioning the company to benefit from a potential recovery in natural diamond demand and prices.
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