Sotheby’s latest High Jewelry Live Sale in Geneva delivered a strong signal that the top end of the global jewellery market remains resilient, with the auction house reporting total sales exceeding $30 million.
The May sale drew participation from collectors across more than 30 countries and achieved the highest bidder engagement Sotheby’s Geneva jewellery sales have seen in over five years.
The auction totalled approximately $30.1 million, with 93% of the lots sold and more than 60% of pieces achieving prices above their high estimates. Sotheby’s said bidding was led by collectors from the United States, Hong Kong, the Middle East and Europe.
Jessica Wyndham, Head of High Jewelry at Sotheby’s Geneva, noted that the momentum seen in late 2025 and recent Hong Kong sales continued strongly into Geneva, particularly for coloured gemstones and signed vintage jewellery. At the same time, the sale also highlighted a renewed demand for exceptional white diamonds.
White Diamonds Make a Strong Comeback
One of the standout moments was the sale of a perfectly matched pair of unmounted De Beers white diamonds (pictured above), each weighing 18.38 carats. The Type IIa D-colour stones — one flawless and the other internally flawless — sold for an estimated $3.27 million, becoming the highest-value lot of the auction.
The diamonds originated from Botswana’s Jwaneng mine and formed part of a collaboration between Sotheby’s and De Beers to showcase rare, provenance-backed diamonds as collectible works of art. Sotheby’s had earlier sold “The Jwaneng 28.88” diamond in Hong Kong for an estimated $2.7 million.
Other strong-performing white diamond pieces included:
A 5.03-carat Graff diamond ring that realised an estimated $363,000 against a high estimate of around $160,000.
An 8.99-carat step-cut diamond that sold for approximately $363,000.
A 10.80-carat step-cut diamond ring that realised roughly $280,000.
Rubies Dominated Collector Interest
Rubies emerged as one of the evening’s strongest-performing gemstone categories, with several pieces significantly outperforming estimates.
Among the highlights:
A cushion-shaped ruby weighing 3.19 carats set as a ring with a diamond surround sold for $230,793.
A 6.49-carat unmounted ruby realised about $313,000.
The auction house said intense bidding reflected sustained demand for untreated, vividly coloured rubies among global collectors.
Exceptional Emeralds & Sapphires
Emeralds and sapphires also drew strong competition.
Some highlights included:
A pair of step-cut sapphire and diamond pendant earrings weighing 35.74 and 30.54 carats respectively, and surmounted by brilliant-diamonds, sold for around $824,000.
A Cartier sapphire and diamond ring realised approximately $264,000. It featured a 15.81-carat step-cut sapphire flanked by baguette, bullet- and fancy-shaped diamond shoulders.
Vintage Signed Jewellery Surges
Signed jewellery from heritage maisons such as Bulgari, Cartier and Van Cleef & Arpels continued to attract aggressive bidding, particularly bold designs from the 1970s through the 1990s.
Key results included:
A Bulgari Serpenti wristwatch from 1976 selling for an estimated $841,000.
A Cartier sapphire and diamond demi-parure from the 1980s realising nearly $396,000.
Overall, the Geneva sale reinforced two key market themes currently shaping the global high jewellery sector: sustained appetite for exceptional coloured gemstones and renewed confidence in top-quality white diamonds with traceable provenance.