Geneva 2026: what sold in May, and the jewels to watch in November
Results of Christie's and Sotheby's Geneva sales in May 2026, and the Kashmir sapphires, Burmese rubies and Colombian emeralds coming up in November.
Twice a year, Geneva sets the tone for the jewellery market. Here is what sold in May 2026, and the rubies, sapphires and emeralds we are watching in November.
May 2026: what sold
Christie's Magnificent Jewels
Christie's spring sale reached USD 66.5 million, with 99% of lots sold and bidders from 40 countries. The top lot was the Ocean Dream, a 5.50-carat Fancy Vivid Blue-Green diamond, which sold for USD 17.36 million after a 20-minute contest. Coloured gemstones held their own lower down the list:
- A Chaumet ring with a 22.28-carat Kashmir sapphire: USD 3.51 million.
- A Harry Winston ring with a 76.39-carat oval cabochon sapphire: USD 2.26 million.
- A Boucheron ruby and diamond necklace made for the 1925 Paris Exposition: USD 1.54 million.
Sotheby's High Jewelry
Sotheby's Geneva sale totalled about USD 30.1 million, with 93% of lots sold and more than 60% selling above their high estimates. A matched pair of 18.38-carat D-colour diamonds from Botswana led the sale at about USD 3.27 million. The coloured gemstone results are more useful for comparison:
- A 6.49-carat unmounted ruby: about USD 313,000, roughly USD 48,000 per carat (our calculation).
- A 3.19-carat cushion ruby ring: USD 230,793.
- A pair of sapphire pendant earrings (35.74 and 30.54 carats): about USD 824,000.
- A Cartier ring with a 15.81-carat sapphire: about USD 264,000.
At the top of the market, the most important words in a catalogue are two: "no heat".
November 2026: the stones to watch
Phillips Geneva Jewels Auction VII, 9 November
Phillips' sale at the Hotel President Wilson includes several untreated coloured stones with significant estimates:
- A 16.40-carat Kashmir sapphire, no heat, in a ring: USD 2.2–3.5 million.
- A late 19th-century brooch with an 18.69-carat sugarloaf cabochon Kashmir sapphire, no heat: USD 1–1.5 million.
- A 7.96-carat Colombian emerald, no oil, in a brooch: USD 485,000–730,000.
- A 4.74-carat Burmese ruby, no heat, in a ring: USD 200,000–300,000.
Christie's Magnificent Jewels, 10 November
The headline lot is the Bulgari Pink, a 24-carat Fancy Intense Pink Type IIa diamond that has stayed in one European family for more than 70 years. It is estimated at USD 12–18 million. Coloured gemstone highlights include a pair of Graff earrings, each with a cushion emerald of more than 17 carats (USD 900,000–1.5 million), and a Van Cleef & Arpels ruby and diamond Oiseau Mystérieux brooch (USD 600,000–1 million).
Why this matters beyond the saleroom
Most collectors will never bid on a Kashmir sapphire. Geneva still matters, because the premiums paid for untreated stones with strong origin reports shape how the whole trade values colour, treatment and documentation. That holds true from seven-figure lots down to a one-carat stone.
We will update this article with the November results.
Prices are as reported by the auction houses and trade press. Estimates are not guarantees of final prices.
