In the rarefied world of high jewelry, the highest-value transactions often occur behind the polished windows of major auction houses, where collectors and connoisseurs vie for the world’s most extraordinary gems. These sales not only shatter price records but also reflect shifting market trends and the enduring allure of colored diamonds and rare gemstones.
The Pink Star: A Diamond Beyond Compare
At the top of the list stands the Pink Star, a fancy vivid pink diamond of 59.6 carats, internally flawless, weighing as much as two decades of careful polishing could yield. Discovered in 1999 in South Africa, this pink marvel underwent 20 months of cutting and polishing before debuting at auction. In 2017, it fetched a staggering $71.2 million at Sotheby’s Hong Kong, setting a new all-time record for the most expensive jewel ever sold at auction. A previous auction in 2013 in Geneva had seen a dramatic bid of over $83 million, but the buyer defaulted, voiding the sale.
Oppenheimer Blue: The Majestic Blue
Just before the Pink Star’s rise, the Oppenheimer Blue, a vivid blue diamond weighing 14.62 carats and cut in a refined emerald shape, held the title of the most expensive jewel. In 2016 at Christie’s Geneva, two determined telephone bidders competed, ultimately settling the price at approximately $50.6 million.
The Reign of Colored Gemstones
Beyond diamonds, colored gemstones have increasingly captured the spotlight. The Estrela de Fura, a vivid “pigeon’s-blood” ruby from Mozambique weighing over 55 carats, shattered records in 2023 at Sotheby’s New York, selling for $34.8 million and becoming the most valuable ruby ever auctioned. Meanwhile, the Sunrise Ruby, a Burmese masterpiece of 25.6 carats, had previously held that record at over $30 million.
Other remarkable colored gems also made headlines. A rare Burmese ruby ring known as the Jubilee Ruby (15.99 carats) commanded over $14 million at auction. At Christie’s Hong Kong, the Crimson Flame, a 15.04-carat unheated Burmese ruby of the deepest saturation, sold for $18 million.
Extraordinary Auctions of 2024–2025
The energy of the luxury jewelry market continued through 2024 and into 2025. At Christie’s “Magnificent Jewels” auction in June 2025, a 10.38 carat fancy purple-pink diamond ring named the “Marie-Thérèse Pink” realized $14 million, a world record for a JAR jewel. Alongside it, the famed Blue Belle Sapphire (392 carats) sold for $11.3 million, contributing to a total sale of $87.7 million—the highest ever for a various-owner American jewelry auction.
Why Colored Gems Captivate
Luxury markets continue to elevate colored diamonds and gemstones, not just for their beauty but also because of their scarcity. Fancy colored diamonds—pinks, blues, purples—are rarely found in nature, and when they surface in trunk shows or auction catalogs, they attract fierce bidding. The combination of legendary provenance, impeccable craftsmanship, and aesthetic perfection makes them investment-grade treasures.
Market Trends and Future Outlook
The pivot toward colored stones aligns with evolving collector tastes. As high-net-worth buyers seek uniqueness and rarity, auctions become theatrical displays of wealth and status. Auction houses bolster this dynamic by staging global viewings and enlisting celebrity endorsements to heighten desirability.
Looking ahead, the market seems poised for even greater feats. With new mines, improved cutting technology, and rising demand, future records may be set by gems yet to emerge.
Summary of Record Sales
| Gemstone | Carats | Price | Auction House & Year |
|---|---|---|---|
| Pink Star (pink) | 59.6 | $71.2 million | Sotheby’s Hong Kong, 2017 |
| Oppenheimer Blue | 14.62 | $50.6 million | Christie’s Geneva, 2016 |
| Estrela de Fura (ruby) | 55.22 | $34.8 million | Sotheby’s New York, 2023 |
| Marie-Thérèse Pink ring | 10.38 | $14 million | Christie’s Americas, 2025 |