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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

Diamond Price Gains In Sept Led By Small, High-Quality Stones

US Retail Demand Strengthened, Particularly For 1–2 Ct (F–I, VS2–SI2) and 2+ Ct Stones. Lower-Quality Smaller Goods Remain Under Pressure From Lab-Grown Diamond Competition.

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Diamond prices continued their upward trajectory in September—traditionally a slow month—driven by reduced production and rising demand. Round diamonds consistently outperformed fancy shapes.

US Market & Trading Sentiment: US retail demand strengthened, particularly for 1–2 ct (F–I, VS2–SI2) and 2+ ct stones. Lower-quality smaller goods remain under pressure from lab-grown diamond competition. Holidays in the US, Belgium, Israel, and India temporarily slowed regional trading.

Trade Show Trends (Hong Kong JGW): Show results were mixed: strong demand for finished jewelry and 2+ ct natural diamonds offset weak interest from Chinese buyers and sluggish movement in smaller, low-clarity goods.

 Corporate & Supply Restructuring:

  • De Beers is set to acquire Mountain Province’s 49% stake in the Gahcho Kué mine under a debt-restructuring agreement.
  • Anglo American’s ongoing process to sell De Beers maintains broad market uncertainty, while recent De Beers rough sights indicate cautious buying.
  • Petra Diamonds is evaluating strategic options, including potential asset sales.
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