Hill's Kashmir Sapphire

    A cushion-cut Kashmir sapphire with a blue color of medium-strong saturation, weighing 9.685 carats and dimensions of 11.50 x 10.32 x 7.94 mm, set as the centerpiece of a platinum ring with tapered baguette-cut diamonds shoulders, appeared at the Woolley & Wallis auctions held on May 1, 2014. A pre-sale estimate of £80,000-120,000 was placed on this Kashmir sapphire ring, but the ring sold much above the upper-estimate for £210,000 equivalent to US$ 354,249.

    A Rare Sapphire and Diamond Ring by David Morris, which was lot 1895 at the Christie's Hong Kong Magnificent Jewels Sale, held on November 27, 2012, was set with a circular-cut Kashmir sapphire weighing 9.37 carats as centerpiece and surrounded by a layer of pear and brilliant cut diamonds. The lot sold for US$889,280 slightly above the upper estimate of US$842,884, equivalent to a price-per-carat value of US$ 94,907.


    Lot 1896 at the same auction was another Kashmir sapphire lot, AN IMPORTANT SAPPHIRE AND DIAMOND RING, set with a cushion-cut Kashmir sapphire weighing 10.66 carats flanked by cushion-shaped diamonds weighing 2.01 carats each mounted on platinum. A pre-sale estimate of US$ 881,786 – 1,231,907 was placed on the lot, which sold within the estimated range for US$1,200,398, equivalent to a price-per-carat value of US$ 112,607.

    Lot 458 - titled an "Exceptional Platinum, Sapphire And Diamond Ring" featured at the Sotheby's New York, April 29, 2014 Magnificent Jewels Sale, setting the world record for price-per-carat for a Kashmir sapphire and for that matter for any sapphire in the world. The centerpiece of this ring is a 28.18-carat, square emerald-cut, Kashmir sapphire, highlighted by a 32 tapered baguette diamond surround, mounted in platinum and designed by Oscar Heyman & Bros. Two lab reports by AGL and GGL certified the Kashmir origin of the sapphire, as well as the fact that the sapphire was not subjected to any form of heat treatment. A pre-sale estimate of USD 4,000,000 - 5,000,000 was placed on the Lot, which was sold slightly above the upper estimate for USD 5, 093,000 equivalent to a price-per-carat value of US$ 180,731 - a new world record for PPC for a Kashmir Sapphire or for any blue sapphire in the world.

    Thanks gemlite for your update.


    The revised highest price-per-carat list for blue sapphires incorporating this information runs as follows :-


    1)28.18-carat, square emerald-cut Kashmir Sapphire - price-per-carat - US$ 180,731 - April 2014
    2) 26.66-carat and 20.88-carat, cushion-cut Richelieu Sapphires - price-per-carat - US$ 175,821- November 2013
    3) 19.88-carat, cushion-cut "Star of Kashmir" Sapphire - price-per-carat - US$ 175,256 - May 2013
    4) 8.91-carat, cushion-cut Kashmir sapphire - price-per-carat - US$ 153,759 - December 2012
    5) 21.42 carat, cushion-cut Kashmir sapphire - price-per-carat - US$ 150,867 - November 2013
    6) 26.41-carat, cushion-cut Kashmir sapphire - price-per-carat - US$ 145,342 - November 2011
    7) 22.66-carat, cushion-cut Hill's Kashmir Sapphire - price-per-carat- US$ 135,216 - April 2007
    8) 20.04-carat, cushion-cut Kashmir blue sapphire - price-per-carat - US$ 130,474 - April 2014
    9)11.71-carat, cushion-cut Kashmir blue sapphire - price-per-carat - US$94,822 - May 2013
    10) 31.53-carat, cabochon-cut, Kashmir blue sapphire - price-per-carat - US$84,316 - April 2012
    11) 42.28-carat, cushion-shaped Kashmir sapphire - price-per-carat - US$ 81,798 - November 2008
    12) 6.90-carat, cushion-cut, Kashmir blue sapphire - price-per-carat - US$64,460 - May 2013
    13) 114.73-carat, oval-cut, Burma blue sapphire - price-per-carat - US$ 62,214 - November 2013
    14) 62.02-carat, rectangular step-cut Rockefeller Sapphire - price-per-carat - US$ 48,871 (Mogok Sapphire) - April 2001
    15) 102.61-carat, cushion-cut Sri Lanka sapphire - price-per-carat - US$ 40,962 - April 2014

    Like the Richelieu Sapphires, another pair of Kashmir sapphire and diamond ear pendants, described as "A Pair Of Impressive Sapphire And Diamond Ear Pendants" appeared at the Hong Kong Magnificent Jewels Sale held on May 31, 2011. The cushion-shaped sapphires weighing 14.84 carats and 13.47 carats are mounted on 18k white gold, between two pear-shaped diamonds at the top and bottom, and the upper diamond hooked loosely to a diamond surmount consisting of a cluster of three pear-shaped diamonds.
    Two lab reports issued by GGL and AGL certified that the 14.84 carat and 13.47 carat sapphires are of Kashmir origin, possessing a richly saturated and homogenous color with no evidence of heat enhancement. A pre-sale estimate of US$2,645,474 - 3,871,425 was placed on the lot, which sold even above the upper estimate for US$4,135,165. This works out to a price-per-carat value of US$146,067


    Another Kashmir sapphire lot that appeared at Christie's New York Magnificent Jewels sale on December 10, 2013 was Lot 355 titled - A Rare Belle Époque Sapphire And Diamond Ring - set with an oval-shaped sugarloaf cabochon sapphire weighing 21.27 carats, with single-cut diamonds on the shoulders, mounted in platinum. An AGL report accompanying the lot certified the Kashmir origin of the sapphire with no evidence of heat enhancement. The lot sold within the presale estimate of US$1,500,000 - 2,500,000 for US$2,105,000 working out to a ppc value of US$98,966.

    At Sotheby's Hong Kong Magnificent Jewels & Jadeite Spring Sale held on April 8, 2013, three important Kashmir sapphire lots appeared at the sale and performed creditably well. These lots are 1655, 1810 and 1807.


    Lot 1655, titled "Fine Sapphire and Diamond Ring - by Harry Winston" was set with a 7.68-carat, cushion-cut, Kashmir sapphire as centerpiece, with five round brilliant-cut-diamonds mounted on either side, and several baguette-cut diamonds mounted on the shoulders and hoop of the platinum ring. Two lab reports by GGL and SSEF certified the Kashmir origin of the blue sapphire with no evidence of heat enhancement. A pre-sale estimate of US$708,510 - 837,330 was placed on the lot, which sold above the upper estimate for US$932,657 - working out to a ppc-value of US$121,440.


    Lot 1810, A Rare Sapphire And Diamond Ring, set with a 11.06-carat, cushion-cut, Kashmir blue sapphire mounted on platinum, is flanked by circular-cut diamonds on its shoulders. Two lab reports by AGL and GGL certify the Kashmir origin of the stone, with no evidence of heat enhancement. Pre-sale estimate placed on the lot was USD 618,336 - 772,920, but the lot sold much above the upper estimate for USD 932,657 -ppc value = USD 84,327.


    Lot 1807 was a Sapphire and Diamond Ring set with a 10.40-carat, sugar-loaf cabochon Kashmir sapphire mounted on platinum, and the foliate surround and shoulders set with circular-cut diamonds, with a pre-sale estimate of USD 322,050 - 386,460. GGL and AGL reports certified the Kashmir origin of the sapphire with no indications of heating. The lot sold above the upper estimate for USD 453,446 - ppc-value USD 43,600.

    Three other Kashmir sapphire lots - Lot 81, Lot 250 and Lot 332 - appeared at Sotheby's Geneva Magnificent Jewels Sale held on November 13, 2013.

    Lot 81 was a Sapphire and Diamond Ring set with a 5.48-carat, cut-cornered step-cut Kashmir Sapphire, between tapered baguette diamond shoulders. Two reports by SSEF and Gubelin certified the Kashmir origin of the stone without any heat enhancement. The lot sold for USD 273,567 between the pre-sale estimate of USD 201,633 - 299,725. This works out to a price-per-carat value of USD 49,920.


    Lot 250 was a Sapphire and Diamond Ring designed by Ronald Abram, set with a 4.52-carat, cushion-shaped sapphire between heart-shaped diamond shoulders. Two lab reports by SSEF and GGL certified the Kashmir origin of the stone with no indications of heat enhancement. The lot was sold for USD 358,580 which was 2.3 times the lower estimate of USD 152,587 and 1.8 times the upper estimate of USD 201,633. The ppc-value of this Kashmir sapphire works out to USD 79,332.


    Lot 332 - the 21.42-carat, cushion-cut Kashmir sapphire has already been highlighted by Maryjewel on January 30, 2014




    Sotheby's New York, April 29, 2014 Magnificent Jewels Sale set the current world record for price-per-carat of US$180,731 for a Kashmir sapphire, when a 28.18-carat, square emerald-cut Kashmir sapphire mounted on a platinum ring by Oscar Heyman & Bros. sold for US$5,093,000. This was already highlighted by gemlite on June 12, 2014. Three other Kashmir sapphire lots also appeared at these auctions and made a significant impact. They are Lots 383, 393 and 406.
    Lot 383 was a Sapphire and Diamond Ring designed by Tiffany & Co around year 1900. The centerpiece of this ring was a 12.71-carat, cushion-shaped mixed-cut Kashmir sapphire mounted on 18k gold and framed by Old European-cut diamonds weighing approximately 2.00 carats. Two lab reports by AGL and GGL certified the Kashmir origin of the stone with no indications of heat enhancement. The Lot sold for US$785,000 which was three times the lower estimate of US$ 250,000 and 2.25 times the upper estimate of US$350,000.


    Lot 393 that sold for US$106,250 (ppc-value US$23,455) was a Sapphire and Diamond Ring, set with a 4.53-carat, oval-shaped Kashmir sapphire as centerpiece mounted on platinum, with baguette and single-cut diamonds on the shoulders and hoop of the ring. The lot sold within the pre-sale estimate of US$90,000-120,000 and was accompanied by GGL and AGL reports certifying the Kashmir origin of the sapphire without any heat enhancement.


    Lot 406 - A Sapphire and Diamond Platinum Ring was set with a 5.45carat, oval-shaped Kashmir sapphire and single-cut diamonds on its shoulders, and sold within the pre-sale estimate of US$200,000-300,000 for US$293,000 working out to ppc-value of US$53,761. Three lab reports by AGL, SSEF and GGL certified the Kashmir origin of the blue sapphire without any heat enhancement.

    Thanks Yousuf, Peter, rashid and shah for fishing out more Kashmir blue sapphires that appeared at public auctions, and enriching our discussion. I think that both the whole stone price list and price-per-carat list needs revision taking into consideration only the Kashmir blue sapphires. So far 26 Kashmir blue sapphires have been considered in our discussion, and these sapphires arranged in descending order of whole stone prices are listed below.

    LIst of Kashmir blue sapphires that appeared at public auctions arranged in descending order of whole stone prices :-


    1) 26.66-carat and 20.88-carat cushion-cut Richelieu Sapphires - US$ 8,358,520 - Sotheby's Geneva, November 2013- Most expensive Kashmir blue sapphires sold at an auction.
    2) 28.18-carat, square emerald-cut, Kashmir blue sapphire - US$5,093,000 - Sotheby's New York, April 2014.
    3) 14.84-carat and 13.47-carat cushion-cut Kashmir blue sapphires from the pair of sapphire and diamond ear-pendants - US$4,135,165 - Christie's Hong Kong May 2011.
    4) 26.41-carat, cushion-cut, Kashmir blue sapphire - US$ 3,838,508 - Christie's Hong Kong, November 2011.
    5) 19.88-carat, cushion-cut "Star of Kashmir" blue Sapphire - US$ 3,484,102 - Christie's Geneva, May 2013.
    6) 42.28-carat, cushion-shaped Kashmir blue sapphire - US$ 3,458,420 - Christie's Geneva, November 2008.
    7) 21.42 carat, cushion-cut Kashmir blue sapphire - US$ 3,231,584 - Sotheby's Geneva, November 2013
    8) 22.66-carat, cushion-cut Hill's Kashmir blue Sapphire - US$ $ 3,064,000 - Christie's New York, April 2007
    9) 31.53-carat, cabochon-cut, Kashmir blue sapphire - US$2,658,500 - Christie's New York, April 2012
    10) 20.04-carat, cushion-cut, Kashmir blue sapphire - US$ 2,614,701 - Sotheby's Hong Kong, April 2014
    11) 21.27-carat, oval cabochon-cut, Kashmir blue sapphire - US$2,105,000 - Christie's New York, December 2013.
    12) 8.91-carat, cushion-cut Kashmir blue sapphire - US$1,370,000 - Christie's New York, December 2012.
    13) 10.66-carat, cushion-cut, Kashmir blue sapphire - US$1,200,398 - Christie's Hong Kong, November 2012.
    14) 11.71-carat, cushion-cut, Kashmir blue sapphire - US$1,110,370 - Sotheby's Geneva, May 2013.
    15) 7.68-carat, cushion-cut, Kashmir blue sapphire - US$932,657 - Sotheby's Hong Kong, April 2013.
    16) 11.06-carat, cushion-cut, Kashmir blue sapphire - US$932,657 - Sotheby's Hong Kong, April 2013.
    17) 9.37-carat, circular-cut, Kashmir blue sapphire - US$889,280 - Christie's Hong Kong, November 2012.
    18) 12.71-carat, cushion mixed-cut, Kashmir blue sapphire - US$785,000 - Sotheby's New York, April 2014.
    19) 10.40-carat, sugar-loaf cabochon-cut, Kashmir blue sapphire - US$453,446 - Sotheby's Hong Kong, April 2013.
    20) 6.90-carat, cushion-cut, Kashmir blue sapphire - US$444,775 - Sotheby's Geneva, May 2013
    21) 4.52-carat, cushion-cut, Kashmir blue sapphire - US$358,580 - Sotheby's Geneva, November 2013.
    22) 9.68-carat, cushion-cut, Kashmir blue sapphire - US$354,249 - Woolley & Wallis auctions, May 2014
    23) 5.45-carat, oval-cut, Kashmir blue sapphire - US$293,000 - Sotheby's New York, April 2014.
    24) 5.48-carat, cut-cornered step-cut, Kashmir blue sapphire - US$273,567 - Sotheby's Geneva, November 2013.
    25) 11.15-carat, cushion modified brilliant Kashmir blue sapphire - US$133,623 - saffronart online auction October 31, 2012.
    26) 4.53-carat, oval-cut Kashmir blue sapphire - US$106,250 - Sotheby's New York, April 2014

    The same list of Kashmir sapphires above arranged in descending order of price-per-carat (ppc) values appears below :-


    1) 28.18-carat, square emerald-cut Kashmir Sapphire - price-per-carat - US$ 180,731 - April 2014
    2) 26.66-carat and 20.88-carat, cushion-cut Richelieu Sapphires - price-per-carat - US$ 175,821- November 2013
    3) 19.88-carat, cushion-cut "Star of Kashmir" Sapphire - price-per-carat - US$ 175,256 - May 2013
    4) 8.91-carat, cushion-cut Kashmir sapphire - price-per-carat - US$ 153,759 - December 2012
    5) 21.42 carat, cushion-cut Kashmir sapphire - price-per-carat - US$ 150,867 - November 2013
    6) 14.84-carat and 13.47-carat, cushion-cut Kashmir sapphires - price-per-carat - US$ 146,067 - May 2011
    7) 26.41-carat, cushion-cut Kashmir sapphire - price-per-carat - US$ 145,342 - November 2011
    8) 22.66-carat, cushion-cut Hill's Kashmir Sapphire - price-per-carat- US$ 135,216 - April 2007
    9) 20.04-carat, cushion-cut Kashmir blue sapphire - price-per-carat - US$ 130,474 - April 2014
    10) 7.68-carat, cushion-cut, Kashmir blue sapphire - price-per-carat - US$ 121,440 - April 2013
    11) 10.66-carat, cushion-cut, Kashmir blue sapphire - price-per-carat - US$ 112,607 November 2012
    12) 21.27-carat, oval cabochon-cut, Kashmir blue sapphire - price-per-carat - US$ 98,966 Dec 2013
    13) 9.37-carat, circular-cut, Kashmir blue sapphire - price-per-carat - US$ 94,907 - November 2012
    14)11.71-carat, cushion-cut Kashmir blue sapphire - price-per-carat - US$94,822 - May 2013
    15) 11.06-carat, cushion-cut, Kashmir blue sapphire - price-per-carat - US$84,327 - April 2013
    16) 31.53-carat, cabochon-cut, Kashmir blue sapphire - price-per-carat - US$84,316 - April 2012
    17) 42.28-carat, cushion-shaped Kashmir sapphire - price-per-carat - US$ 81,798 - November 2008
    18) 4.52-carat, cushion-cut, Kashmir blue sapphire - price-per-carat - US$79,332 - November 2013.
    19) 6.90-carat, cushion-cut, Kashmir blue sapphire - price-per-carat - US$64,460 - May 2013
    20) 12.71-carat, cushion mixed-cut Kashmir blue sapphire - price-per-carat - US$ 61,762 - April 2014
    21) 5.45-carat, oval-cut, Kashmir blue sapphire - price-per-carat- US$53,761 - April 2014
    22) 5.48-carat, cut-cornered step-cut, Kashmir blue sapphire - US$49,920 - November 2013
    23) 10.40-carat, sugar-loaf cabochon-cut, Kashmir blue sapphire - price-per-carat - US$43,600 - April 2013.
    24) 9.68-carat, cushion-cut, Kashmir blue sapphire - price-per-carat - US$36,596 - May 2014
    25) 4.53-carat, oval-cut, Kashmir blue sapphire - price-per-carat - US$23,455 - April 2014
    26) 11.15-carat, cushion brilliant-cut, Kashmir blue sapphire - US$11,984 - October 2012.


    In the List above
    a) Sapphires 1 to 5 fall within the range of US$150,000 - US$181,000
    b) Sapphires 6 to 11 fall within the range of US$100,000 - US$150,000
    c) Sapphires 12 to 21 fall within the range of US$50,000 - US$100,000
    d) Sapphires 22 to 26 fall within the range of US$10,000 - US$50,000

    Images of Sapphires 1 to 11 falling above the range of US$100,000 per carat if uploaded side by side might help visitors to compare their color, cut and size, the main factors that affect their value and try to relate these with actual values registered at the auctions. The following are images of Sapphire Nos. 1 to 6 :-

    Images of Sapphire Nos. 7 to 11 are found below :-

    Thanks Lareef for your detailed and in-depth analysis of whole stone prices and price-per-carat values of Kashmir sapphires that appeared at various public auctions from 2007 to 2014. It appears that you have divided the 26 Kashmir blue sapphires considered into three broad categories.

    1st-category - Sapphires falling above the range of US$100,000 per carat - Sapphire Nos. 1 to 11
    2nd-category - Sapphires falling within the range of US$50,000 to US$100,000 per carat - Sapphire Nos 12 to 21.
    3rd-category - Sapphires falling below the range of US$50,000 per carat. - Sapphire Nos. 22 to 26.


    I don't know whether it would be appropriate to name the three categories as High Grade, Medium Grade and Low Grade Kashmir sapphires.


    High Grade - above US$100,000 per carat - Sapphires 1 to 11.
    Medium Grade - between US$50,000 to 100,000 per carat - Sapphires 12 to 21.
    Low Grade - below US$50,000 per carat - Sapphires 22 to 26.

    The classification is actually arbitrary based on prices achieved at public auctions. There may be discrepancies in this classification, such as a high-grade blue sapphire falling under medium or low grade, as the price achieved was affected by some factor other than quality-determining factors, such as the smaller size of the gemstone or vice-versa, a medium or low-grade sapphire falling under high-grade, as price was escalated due to historic provenance. Nevertheless, broadly speaking the price-based classification will agree with the quality-based classification, as prices of sapphires are usually determined based on quality factors, such as the hue, tone and saturation of the color and the perfectly symmetrical cut to suit the shape and size of the stone. In the case of Kashmir blue sapphires, the verification of the country-of-origin as Kashmir, itself gives a big boost to its price-per-carat value, but this does not affect the grade classification above, as we are dealing only with Kashmir blue sapphires.

    Two Kashmir sapphire lots, Lot 1752 and Lot 1938, that appeared at Sotheby's Hong Kong Magnificent Jewels & Jadeite Sale on October 7, 2014 appears to have broken the price-per-carat world record for a Kashmir sapphire set by the 28.18-carat, square emerald-cut Kashmir sapphire, at the Sotheby's New York, April 29, 2014 Magnificent Jewels Sale.


    Lot 1752 - Fine Sapphire, Emerald and Diamond Ring by Cartier - with a pre-sale estimate of HKD6,000,000 — 7,500,000 (USD773,640 - 967,050) sold for a much enhanced price of HKD18,040,000 (USD2,326,078). The centerpiece of this ring is a 12.00-carat, step-cut Kashmir blue sapphire, flanked by calibré-cut emeralds on the shoulders and hoop of the ring, together weighing 1.60 carats, decorated by circular-cut diamonds and mounted in platinum. A lab report by AGL certified that the 12.00-carat sapphire is natural, and of Kashmir origin, with no gemological evidence of heat treatment, and posseses the velvety-blue color characteristic of Kashmir blue sapphires. The price-per-carat of this blue sapphire works out to USD193,839 which is above the ppc-value of the 28.18-carat, square emerald-cut Kashmir sapphire of USD180,731. Hence, the 12.00-carat step-cut Kashmir blue sapphire sets a new world record for ppc-value of USD193,839.


    The other Kashmir sapphire lot, 1938 was an "Exceptional and Very Rare Sapphire and Diamond Ring" centering on a step-cut sapphire weighing 17.16 carats, known as "The Imperial Kashmir" surrounded by circular-cut and brilliant-cut diamonds together weighing 6.00 carats and mounted in platinum. Three lab reports by AGL, GGL and SSEF certify the 17.16-carat sapphire as natural and of Kashmir origin, with no no indications of heating. A supplemental letter issued by AGL, further states, that the sapphire displays a soft velvety "cornflower blue" colour that is commonly seen in sapphires of Kashmir origin...Large emerald cut Kashmir sapphires are rarely encountered in today's market. The provenance, size and intrinsic quality of the present 17.16 ct gem only adds to its rarity and desirability...In consideration of the special provenance, size and quality attributes of this exceptional gem, it has been named: "The Imperial Kashmir." A pre-sale estimate of HKD22,000,000 — 28,000,000 (USD2,836,680 - 3,610,320) was placed on this Kashmir Sapphire Lot, which sold for HKD 31,480,000 (USD4,059,031). This works out to a price-per-carat value of USD236,540 a new world record for price-per-carat for a Kashmir sapphire.

    This is clearly a reflection of the current strength of the blue sapphire market, and particularly the esteem in which Kashmir sapphires are held, the benchmark for all sources of blue sapphires.

    Thanks AnitaP for your intelligent observation, and thanks Joan for your appropriate comment. I totally agree with you Joan on your comment. The blue sapphire market is indeed becoming stronger and stronger, as reflected not only by the high prices achieved by Kashmir sapphires at public auctions, but also by fine Burma and Ceylon sapphires, that are also setting new milestones at public auctions, such as the staggering US$17.7 million achieved by 392.52-carat, cushion-cut, Ceylon sapphire, "The Blue Belle of Asia Sapphire," that shattered the world record for any sapphire sold at an auction.

    "Hill's Kashmir Sapphire" has been one of our most popular threads, dealing mainly with all aspects of the rare Kashmir blue sapphires, the benchmark for all blue sapphires originaing from different sources across the world. The thread had registered over 50,000 views, no doubt due to the wealth of information available therein. Hence, we strongly feel that continuing with this thread, giving the latest updates on the performance of these rare blue sapphires at public auctions, is imperative not only as a source of information on blue sapphires, but also to rekindle and strengthen the international blue sapphire market. It is with this intention, that we are re-opening this thread again and as a first step, we are posting the new revised list of Kashmir blue sapphires that appeared at public auctions arranged in descending order of whole stone prices and the same list arranged again in descending order of price-per-carat values. In the revised lists we have incorporated information provided by one of our contributors - rashid - on April 13, 2015, about two record breaking Kashmir blue sapphires, that appeared at Sotheby's Hong Kong Magnificent Jewels & Jadeite Sale on October 7, 2014- Lots 1752 and 1938, whose images have already been upoaded by him.


    Revised list of Kashmir blue sapphires that appeared at public auctions arranged in descending order of whole stone prices :-


    1) 26.66-carat and 20.88-carat cushion-cut Richelieu Sapphires - US$ 8,358,520 - Sotheby's Geneva, November 2013- Most expensive Kashmir blue sapphires sold at an auction.
    2) 28.18-carat, square emerald-cut, Kashmir blue sapphire - US$5,093,000 - Sotheby's New York, April 2014.
    3) 14.84-carat and 13.47-carat cushion-cut Kashmir blue sapphires from the pair of sapphire and diamond ear-pendants - US$4,135,165 - Christie's Hong Kong May 2011.
    4) 17.16-carat, square emerald-cut, Kashmir blue sapphire - US$ 4,059,031-Sotheby's Hong Kong, October 7, 2014.
    5) 26.41-carat, cushion-cut, Kashmir blue sapphire - US$ 3,838,508 - Christie's Hong Kong, November 2011.
    6) 19.88-carat, cushion-cut "Star of Kashmir" blue Sapphire - US$ 3,484,102 - Christie's Geneva, May 2013.
    7) 42.28-carat, cushion-shaped Kashmir blue sapphire - US$ 3,458,420 - Christie's Geneva, November 2008.
    8) 21.42 carat, cushion-cut Kashmir blue sapphire - US$ 3,231,584 - Sotheby's Geneva, November 2013
    9) 22.66-carat, cushion-cut Hill's Kashmir blue Sapphire - US$ $ 3,064,000 - Christie's New York, April 2007
    10) 31.53-carat, cabochon-cut, Kashmir blue sapphire - US$2,658,500 - Christie's New York, April 2012
    11) 20.04-carat, cushion-cut, Kashmir blue sapphire - US$ 2,614,701 - Sotheby's Hong Kong, April 2014
    12) 12.00-carat, rectangular emerald-cut, Kashmir blue sapphire - US$ 2,326,078 - Sotheby's Hong Kong, October 7, 2014.
    13) 21.27-carat, oval cabochon-cut, Kashmir blue sapphire - US$2,105,000 - Christie's New York, December 2013.
    14) 8.91-carat, cushion-cut Kashmir blue sapphire - US$1,370,000 - Christie's New York, December 2012.
    15) 10.66-carat, cushion-cut, Kashmir blue sapphire - US$1,200,398 - Christie's Hong Kong, November 2012.
    16) 11.71-carat, cushion-cut, Kashmir blue sapphire - US$1,110,370 - Sotheby's Geneva, May 2013.
    17) 7.68-carat, cushion-cut, Kashmir blue sapphire - US$932,657 - Sotheby's Hong Kong, April 2013.
    18) 11.06-carat, cushion-cut, Kashmir blue sapphire - US$932,657 - Sotheby's Hong Kong, April 2013.
    19) 9.37-carat, circular-cut, Kashmir blue sapphire - US$889,280 - Christie's Hong Kong, November 2012.
    20) 12.71-carat, cushion mixed-cut, Kashmir blue sapphire - US$785,000 - Sotheby's New York, April 2014.
    21) 10.40-carat, sugar-loaf cabochon-cut, Kashmir blue sapphire - US$453,446 - Sotheby's Hong Kong, April 2013.
    22) 6.90-carat, cushion-cut, Kashmir blue sapphire - US$444,775 - Sotheby's Geneva, May 2013
    23) 4.52-carat, cushion-cut, Kashmir blue sapphire - US$358,580 - Sotheby's Geneva, November 2013.
    24) 9.68-carat, cushion-cut, Kashmir blue sapphire - US$354,249 - Woolley & Wallis auctions, May 2014
    25) 5.45-carat, oval-cut, Kashmir blue sapphire - US$293,000 - Sotheby's New York, April 2014.
    26) 5.48-carat, cut-cornered step-cut, Kashmir blue sapphire - US$273,567 - Sotheby's Geneva, November 2013.
    27) 11.15-carat, cushion modified brilliant Kashmir blue sapphire - US$133,623 - saffronart online auction October 31, 2012.
    28) 4.53-carat, oval-cut Kashmir blue sapphire - US$106,250 - Sotheby's New York, April 2014




    The same list of Kashmir sapphires above arranged in descending order of price-per-carat (ppc) values :-


    1) 17.16-carat, square emerald-cut, Kashmir blue sapphire - price-per-carat - US$ 236,540 - Sotheby's Hong Kong, October 7, 2014
    2) 12.00-carat, rectangular emerald-cut, Kashmir blue sapphire - price-per-carat - US$ 193,839 - Sotheby's Hong Kong, October 7,2014
    3) 28.18-carat, square emerald-cut Kashmir Sapphire - price-per-carat - US$ 180,731 -Sotheby's New York, April 2014.
    4) 26.66-carat and 20.88-carat, cushion-cut Richelieu Sapphires - price-per-carat - US$ 175,821- Sotheby's Geneva, November 2013.
    5) 19.88-carat, cushion-cut "Star of Kashmir" Sapphire - price-per-carat - US$ 175,256-Christie's Geneva, May 2013.
    6) 8.91-carat, cushion-cut Kashmir sapphire - price-per-carat - US$ 153,759 -Christie's New York December 2012.
    7) 21.42 carat, cushion-cut Kashmir sapphire - price-per-carat - US$ 150,867 - Sotheby's Geneva, November 2013.
    8) 14.84-carat and 13.47-carat, cushion-cut Kashmir sapphires - price-per-carat - US$ 146,067 - Christie's Hong Kong May 2011.
    9) 26.41-carat, cushion-cut Kashmir sapphire - price-per-carat - US$ 145,342 - Christie's Hong Kong, November 2011.
    10) 22.66-carat, cushion-cut Hill's Kashmir Sapphire - price-per-carat- US$ 135,216 - Christie's New York, April 2007.
    11) 20.04-carat, cushion-cut Kashmir blue sapphire - price-per-carat - US$ 130,474 - Sotheby's Hong Kong, April 2014
    12) 7.68-carat, cushion-cut, Kashmir blue sapphire - price-per-carat - US$ 121,440 - Sotheby's Hong Kong, April 2013.
    13) 10.66-carat, cushion-cut, Kashmir blue sapphire - price-per-carat - US$ 112,607- Christie's Hong Kong, November 2012.
    14) 21.27-carat, oval cabochon-cut, Kashmir blue sapphire - price-per-carat - US$ 98,966 - Christie's New York, December 2013.
    15) 9.37-carat, circular-cut, Kashmir blue sapphire - price-per-carat - US$ 94,907 - Christie's Hong Kong, November 2012.
    16)11.71-carat, cushion-cut Kashmir blue sapphire - price-per-carat - US$94,822 - Sotheby's Geneva, May 2013.
    17) 11.06-carat, cushion-cut, Kashmir blue sapphire - price-per-carat - US$84,327 - Sotheby's Hong Kong, April 2013.
    18) 31.53-carat, cabochon-cut, Kashmir blue sapphire - price-per-carat - US$84,316 - Christie's New York, April 2012
    19) 42.28-carat, cushion-shaped Kashmir sapphire - price-per-carat - US$ 81,798 - Christie's Geneva, November 2008.
    20) 4.52-carat, cushion-cut, Kashmir blue sapphire - price-per-carat - US$79,332 - Sotheby's Geneva, November 2013.
    21) 6.90-carat, cushion-cut, Kashmir blue sapphire - price-per-carat - US$64,460 - Sotheby's Geneva, May 2013
    22) 12.71-carat, cushion mixed-cut Kashmir blue sapphire - price-per-carat - US$ 61,762 -Sotheby's New York, April 2014.
    23) 5.45-carat, oval-cut, Kashmir blue sapphire - price-per-carat- US$53,761 - Sotheby's New York, April 2014.
    24) 5.48-carat, cut-cornered step-cut, Kashmir blue sapphire - US$49,920 - Sotheby's Geneva, November 2013.
    25) 10.40-carat, sugar-loaf cabochon-cut, Kashmir blue sapphire - price-per-carat - US$43,600 - Sotheby's Hong Kong, April 2013.
    26) 9.68-carat, cushion-cut, Kashmir blue sapphire - price-per-carat - US$36,596 - Woolley & Wallis auctions, May 2014
    27) 4.53-carat, oval-cut, Kashmir blue sapphire - price-per-carat - US$23,455 - Sotheby's New York, April 2014.
    28) 11.15-carat, cushion brilliant-cut, Kashmir blue sapphire - US$11,984 - Saffronart online auction October 31, 2012.

    Hence, as at October 7, 2014 the world record for price-per-carat value of Kashmir blue sapphires - US$ 236,540 - is held by the 17.16-carat, square emerald-cut, Kashmir blue sapphire, that sold at Sotheby's Hong Kong, Magnificent Jewels & Jadeite sale held on October 7, 2014.

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