Next week, the Geneva, Switzerland auction will feature rare colored diamonds and royal jewels that were smuggled out Russia by Russian oligarchs during the 1917 revolution. Reuters reported.
A ring with an orange-pink diamond weighing 25.62 carats is estimated to fetch $3.9 million to $5.9 million, and is the main attraction of the auction, CNN reported.
“A beautiful crystal, it’s a fantastic color with a little bit of orange but not too much, so it’s a very subtle color,”Olivier Wagner is Sotheby’s Geneva’s Head of Sales and a jewelry expert.
After spending more than a year in a pandemic, the auction attracts people with deep pockets who want to spend large.
“The market is currently very dynamic and after the pandemic people are very keen to buy jewelry today and to buy something tangible they can enjoy,” Wagner told Reuters.
Other items on the expensive block are a large oval sapphire and diamond brooch and matching ear-clips from the jewelry box of the aunt of the last Russian emperor, Nicholas II, CNN reported.
“They belonged the Grand Duchess Maria Pavlovna, the Russian queen of St. Petersburg social life. Wagner explained to Reuters that she was the wife and Grand Duke Vladimir’s daughter.
The royal set was entrusted to Pavlovna’s friend Albert Henry Stopford, a British diplomat in Russia, who took them to London for safekeeping along with other jewels, Reuters said. Pavlovna was able to escape the Russian Revolution, and she died in France in 2022. According to Reuters, a regal European couple purchased her earrings and brooch at an auction in 2009.