Where the previous record was set in Geneva at Sotheby's on 13 November 2013, where a pair of sapphire earrings with sapphires of 26.66 and 20.88 cts sold for a total of $8,372,094 or $176,106 per ct, this time a 28.18-carat square emerald-cut Kashmir sapphire was sold for nearly $5.1 million. This means the sapphire reached the astronomical price of $180,731 per carat, setting a world auction record of a price per carat of a sapphire.

Gary Schuler, head of the Sotheby’s Jewellery Department in New York, stated: “With its exceptional quality and deep color, I knew as soon as I saw it that the stone had the potential to reach historic heights.”

Each year, auction records are set for diamonds, rubies and sapphires, afterwards the astonishing results are being published online.

A quick comparison to rubies: an auction record per carat was reached for an oval cut ruby from Burma, mounted in a ring. It sold at Christie's Hong Kong on 29 May 2012 for a total of $3,347,042 or $554,146/ct.

These precious gems are often set in necklaces, pendants or rings, ornated with diamonds, which results in a magnificent piece of jewellery. This specific Kashmir sapphire was an untreated gem, mounted on a ring framed by 32 tapered baguette diamonds, one of the world’s finest diamond jewellery creations.

When talking about engagement rings, diamonds and sapphires are a classic choice. One of the world’s most famous engagement rings since her engagement to Prince William is Kate Middleton’s, consisting of 14 solitaire diamonds surrounding a 12-carat oval blue sapphire set in 18-karat white gold.

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