Gem and Jewelry Auctions

On our Suncoast Gem Lab Facebook page we have shared many examples of how gemstones and jewelry are selling for record breaking prices at auction. The latest being the pink diamond that sold at auction for a record $15.8 million. Where is the economic crisis? It doesn’t seem to be at jewelry and gemstone auctions.

In the Winter 2011 edition of International Colored Gemstone Association’s InColor magazine, there was a great article on gem and jewelry auctions. This article explores the history and success of such auctions. The article points out that the origin or history of a gemstone or piece of jewelry plays a huge role in record auction prices. Would Elizabeth Taylor’s jewelry collection have sold for $156.8 million if it were owned by Jane Doe? No.