Kashmir sapphire and diamond ring sells for £175,000 in Birmingham - here's why

Someone’s Christmas will have extra sparkle after this dazzling sapphire became one of the most expensive rings to go under the hammer in Birmingham. 

The king of bling sold for an eye-watering £175,000, yet was expected to sell for under £80,000. The sale, at Fellows Auctioneers, created a fire-storm of interest, with bidders steadily cranking up the price tag. 

A spokesperson for Fellows said: “Bidding bounced from telephone lines to bidders on the website for over nine minutes. The lot opened at £50,000.   “The bidders battled it out over the phone and via the Fellows Live bidding platform. The auction house team and other bidders watched on with excitement as the hammer finally fell at £175,000. 

“Before the auction, potential bidders from across the globe attended viewings in Birmingham and London to inspect the piece in person. This interest translated into bids. Five telephone bidders booked in prior to the lot opening and others participated in the auction online from all over the world. The auction itself was very popular among bidders with over 800 people registered for bidding in the sale.” 

The sapphire and diamond ring was made in the 1960s by Parisian watch and jeweller Boucheron. The un-named purchaser has bagged a rare, 6.76 carat blue sapphire, mined in Kashmir.  The stones, taken from the Himalayan Mountains, are among the most sought after in the world. They were mined for 50 years after being discovered in 1879. 

The Fellows spokesperson added: “Deemed some of the most prestigious and sought-after stones in the world of jewellery, Kashmir sapphires are incredibly rare. They are so rare because the region produces the best specimens. These contain a superior cornflower blue or a royal blue tint and a velvety quality.”  That’s a gem of a Christmas gift by anyone’s standards.