Press Release - May 10, 2012

Rare And Spectacular Kashmir Sapphire Brings $527,500 To Lead Heritage Auctions' $4.1+ Million Jewelry Event

Amazing gem sets auction house record price for jewelry, April 30, in New York; strong demand seen for colored diamonds and fine colored gemstones

NEW YORK – A stunning 8.99 carat Kashmir Sapphire, Diamond, Platinum Ring, AGL certified, Kashmir, No heat, brought $527,500 on Monday, April 30, as the centerpiece of Heritage Auctions’ $4.1+ million Jewelry Signature® Auction, setting a house record for jewelry. All prices include 25% Buyer’s Premium.

“This amazing sapphire was certainly the highlight of the auction,” said Jill Burgum, Director of Jewelry Auctions at Heritage. “It more than doubled its pre-auction estimate and was the chief indicator of the fierce competition we saw on many colored diamonds and gemstones in the auction.”

The spirited bidding on the large Kashmir sapphire was closely matched by the impressive contest for a dramatic Colombian Emerald, Diamond, Platinum Ring, which tripled its pre-auction estimate of $100,000+ to finish the day at $302,500, while bidders also showed substantial interest in a 4.26 carat Diamond, Platinum ring, which realized $104,500 and in a 9.81 carat Ruby, Diamond, Platinum ring, which flirted with a six-figure final price realized to finish the day at $98,500.

Further highlights include, but are not limited to:

Fancy Yellow Diamond, Diamond, Platinum, Gold Ring, Charles Krypell: Realized $74,500.

Kashmir Sapphire, Diamond, White Gold Ring: Realized $68,500.

Colored Diamond, Gold Ring: Realized $62,500.

Fancy Pink Diamond, Diamond, Platinum, Gold Ring, Charles Krypell: Realized $62,500.

Diamond, Platinum, Gold Earrings: Realized: $59,375.

Diamond, Platinum Ring: Realized $46,875.

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