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Auction house Phillips is preparing to put up for auction a rare 52.50 carat Kashmir sapphire and diamond necklace this May in Hong Kong. The rare necklace is estimated to fetch a diamond price of $2.2 million to $2.9 million.

The necklace contains twenty-one cushion-shaped sapphires that are all accompanied by an AGL report, all Kashmir and has no indications of heating except for one 1-carat sapphire as that one is undetermined. In addition, all sapphires are Kashmir graded by SSEF, except for the 1.11-carat sapphire, undetermined.

In the platinum necklace, the sapphires are spaced by round and fancy shaped diamonds that are approximately 35.25 carats in total.

Image: 52.50-carat Kashmir sapphire necklace, courtesy Phillips

The discovery of the blue sapphires

In a valley, amidst the Himalayan Mountains between Pakistan and China all the blue sapphires of this necklace were found and hail from Kashmir. The first gem was discovered in 1879 from a landslip.

The number of sapphires that was unearthed in this area was steady but over the course of six and seven years quality like the sapphires in the necklace rapidly decreased. The “old mine” in that area is nowadays completely exhausted.

“The short lifespan of the mines reaffirms the legendary reputation of sapphires from Kashmir. Not only are they some of the most beautiful and highly valued wonders of nature, but some of the most scarcely mined gemstones.”

“We are very proud to be entrusted to present a very rare and important Kashmir sapphire and diamond necklace — the first to be offered at auction in the past decade,” – Terry Chu, head of jewelry for Phillips Asia

At the Jewels and Jadeite Spring sale on May 28 more unique items are featured, view here.

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