Geneva – On 11 November 2025, Christie’s Geneva held its much-anticipated Magnificent Jewels live auction at the Four Seasons Hotel des Bergues, presenting more than 100 exceptional jewels and culminating in one of the season’s standout sales. While the sale featured a wide array of rare colored gemstones and historic jewels, it was the 9.51-carat fancy vivid blue diamond known as The Mellon Blue that dominated headlines and set the tone for the evening.
Spotlight Lot: The Mellon Blue Diamond
The star of the evening, The Mellon Blue, is a pear-shaped diamond of 9.51 carats, graded Fancy Vivid Blue and Internally Flawless by the Gemological Institute of America (GIA). Formerly owned by American arts patron Rachel “Bunny” Mellon, the stone carries impeccable provenance and world-class gemological credentials.
At the auction, the diamond realised CHF 20.5 million, approximately US$25.6 million, including buyer’s premium. Though this figure delivered on the pre-sale estimate of US$20–30 million, it fell short of the US$32.6 million it fetched in 2014—a reflection, analysts say, of a cautious collector climate.
Christie’s noted that the sale stands as its third-highest price achieved for a vivid blue diamond, trailing only the 14.62-carat Oppenheimer Blue (US$57 m, 2016) and the 17.61-carat Bleu Royal (US$44 m, 2023). In declaring the result, Christie’s global head of jewellery observed that “elite appetite among collectors for extraordinary and storied gems” remains alive, even in tempered markets.
Other Stand-Out Lots
In addition to the Mellon Blue diamond, the sale featured several stellar pieces that drew strong attention:
- JAR Colored Diamond & Sapphire Ring: A signature piece by the house of JAR (Joel Arthur Rosenthal), this ring combines a purplish pink, pear-shaped, fancy-coloured diamond of 8.68 carats with sapphires, underscoring the value of rarity and maison provenance in today’s market. The final hammer price for this lot was CHF 2.5 million (≈ US$3.1 million).
- Late 19th-Century Ruby & Diamond Star Pendant/Brooch: This historic piece, convertible between pendant and brooch, features an oval-shaped ruby of 10.07 carats and old European-cut diamonds and realised approximately CHF 2.3 million (≈ US$2.8 million).
- Ronald Abram Diamond Heart Necklace: A modern high-jewelry statement necklace by designer Ronald Abram, showcasing exceptional diamonds with a center stone of 36.20 carats in a heart motif. It sold for CHF 2,195,000 (≈ US$2.7 million)
- Exquisite FRED Diamond Earrings: From the French jewelry house Fred, these diamond earrings, flaunting diamonds between 10.69 and 2.39 carats, epitomise wearable luxury and designer heritage. It realized CHF 1,890,000 (≈ US$2.3 million).
- “The Rainbow Collection”: An impressive assemblage of over 300 unmounted colored diamonds (treated and untreated) covering the spectrum of hues—from pinks and blues to greens and yellows, ranging from 0.24 to 4.89 carats. The collection realised approximately CHF 1.8 million (≈ US$2.2 million).
These lots reflect the diversity of the catalogue, spanning historic brooches and contemporary high-jewelry brands, as well as raw gemstones and mounted pieces. Yet all share the themes of rarity, provenance, and design excellence.
Auction Results & Market Context
According to available data, the Geneva sale saw 95% of lots by value sell, with approximately 94% by number of lots finding buyers. The total realised for the night was reported at CHF 60.6 million, or about US$75.6 million.
This result signals a healthy demand for ultra-high-end jewelry, though the softer performance of key headline lots (such as the Mellon Blue diamond relative to past benchmarks) suggests a tempered tone. Market commentators pointed to macroeconomic uncertainties, including geopolitical tensions and a weaker Chinese luxury market, as contributing factors. Notably, the auction came on the heels of Christie’s May 2025 Geneva jewelry sale, which achieved US$72.3 million with 100 % of lots sold.
Key Takeaways for Collectors and the Industry
- Provenance remains king: The story behind The Mellon Blue, its previous owner, collection history, and classification, clearly enhanced its appeal and value.
- Color and clarity still command a premium: The Mint-level grading of the Mellon Blue diamond (Fancy Vivid Blue/Internally Flawless) remains exceptional.
- Market discipline returning: The lower price achieved for the Mellon Blue relative to 2014 reflects increased buyer caution and a resetting of expectations in today’s climate.
- Geneva remains a hub: Christie’s ability to attract international bidders to Geneva underlines the city’s continued status as a major marketplace for top-tier jewelry.
Looking Ahead
With the results in, all eyes now turn to whether similar patterns will continue, particularly how high-end colored diamonds fare in auctions throughout 2026. The bidding battle for The Mellon Blue may well have set a reference point for vivid blue diamonds under present market conditions. For collectors, the message is clear: exceptional quality, story, and rarity still win—but pricing discipline is back in fashion. The evening’s total of US$75.6 million may not have broken records, but it reaffirmed the strength and resilience of the rare-gem marketplace.
Featured images: Christie’s
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