In the world of art, collecting, and investment, auction houses hold a special place. They are not just platforms for selling rare items but true custodians of history, craftsmanship, and exceptional taste. Bringing together collectors, investors, and connoisseurs of luxury, they offer exquisite jewelry pieces adorned with diamonds, emeralds, and sapphires, as well as vintage ornaments carrying the legacy of great eras.
These auction houses set trends in the world of jewelry and continue the traditions of collecting, shaping the market for precious gems and establishing new price records in high-profile sales. Among them are the largest and most prestigious auction houses, whose sales have made history.
Sotheby’s: Legendary Diamonds and Royal Jewelry
Founded in 1744 by British entrepreneur Samuel Baker, Sotheby’s began as an auction house specializing in rare books. Over time, it evolved into one of the leading global players in fine art and jewelry auctions. Today, Sotheby’s is renowned for its spectacular sales, featuring exclusive gemstones and vintage jewelry from legendary houses.
One of the most iconic lots sold at Sotheby’s was the extremely rare Blue Moon diamond, weighing 12.03 carats. Just seven minutes into the bidding, it was sold for a record-breaking $48.4 million. The gem was acquired by a private collector from Hong Kong, who renamed it Blue Moon of Josephine. This unique diamond was purchased by billionaire Joseph Lau as a gift for his seven-year-old daughter, Josephine. With its exceptional hue and purity, the diamond was recognized as one of the most perfect ever sold at auction.
Jewels such as the 47-carat sapphire vintage brooch embody the aesthetics of their era, reflecting the same principles of rarity and elegance that define Sotheby’s legendary treasures.
Christie’s: An Auction House with Royal History and Star Collections
Founded by James Christie in 1766, this auction house has become synonymous with exclusivity and luxury. Its early sales focused on antique books and paintings, but by the 19th century, Christie’s had firmly established itself in the jewelry market. The house played a key role in auctioning royal collections and pieces with legendary histories.
In 2018, Christie’s set a record by selling the Pink Legacy diamond, weighing 18.96 carats, for $50 million, making it the most expensive pink diamond ever auctioned.
Christie’s was also the venue for the historic sale of Elizabeth Taylor’s jewelry collection in 2011, which fetched a total of $137 million. Among the most valuable pieces was the La Peregrina necklace, featuring a rare 16th-century pearl, which sold for $11.8 million. This extraordinary pearl, once owned by Queen Mary I of England, Queen Elisabeth and Napoleon III, was a Valentine’s Day gift from Richard Burton to Elizabeth Taylor and remains one of the most famous jewels in history.
Pearl-adorned jewelry continues to be a staple at major auctions, much like the vintage “Perle au Trésor” brooch, which perfectly combines elegance with historical legacy.
Bonhams: Vintage Jewelry and Treasures from the Past
Founded in 1793 by Thomas Dodd, Bonhams started as a small family business dealing in antiques. Over time, it grew into one of the largest auction houses, renowned for its sales of fine art, classic automobiles, and, of course, jewelry.
Bonhams is particularly known for auctioning Art Deco and Victorian-era jewelry. The house regularly features vintage pieces from legendary brands such as Cartier, Van Cleef & Arpels, and Boucheron.
In 2018, a vintage Cartier bracelet from the 1930s, adorned with rubies and diamonds, was sold for $1.2 million. In 2021, a Kashmir sapphire ring, weighing 17.43 carats, fetched $1.5 million—an exceptional price for this rare gemstone. Kashmir sapphires are among the most valuable due to their rich blue color and extraordinary transparency.
Similarly, a 3.01-carat diamond, with its flawless quality and rarity, is a perfect addition to the collection of those who appreciate the historical significance of fine gemstones.
Phillips: Contemporary Jewelry Art and Designer Pieces
Founded in 1796 by Harry Phillips, a former employee of Christie’s, Phillips initially specialized in furniture and paintings. However, by the 20th century, it had become one of the leading auction houses focused on contemporary art and design, including exclusive jewelry.
Phillips prioritizes modern design and rare, bespoke jewelry pieces. In recent years, the house has increasingly featured unique gemstones crafted by iconic 21st-century jewelers, such as Cindy Chao and Wallace Chan. Their work is known for innovative techniques, intricate stone setting, and exclusivity, making them highly sought-after among collectors.
This year a 10-carat diamond ring was the top seller at a recent jewelry sale at Phillips in Hong Kong, bringing $591,330. The emerald-cut, D-color, internally flawless diamond ring sold within its presale estimate at the recent Hong Kong Jewels auction.
Heritage Auctions: Rare Collectible Jewelry and Exotic Diamonds
Heritage Auctions, founded in 1976, is the largest auction house in the United States. Initially specializing in numismatics, it soon expanded its scope to include fine art, vintage jewelry, and exclusive collectibles.
This American auction house is known for its rare gems, designer jewelry, and historic pieces. In 2022, Heritage Auctions set a record by selling a 1.21-carat fancy orangy red diamond (a record-high sale for this auction house, 12 times the estimate) for $1.755 million.
Diamonds with intense fancy hues are incredibly rare in nature, making them particularly valuable in the luxury jewelry market. The same standards of exclusivity apply to the Mahenge spinel and diamond ring, featuring a gemstone renowned for its strikingly vivid color and exceptional clarity.
The Legacy of Auction Houses in the Jewelry World
In addition to the most famous houses listed here, there are many niche auction houses around the world specializing in antique jewelry, independent jewelers, and rare gemstones. In this context, auctions become not only a platform for sales but also an important element of the cultural and historical memory of jewelry art.
