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Hope Spinel Sells for a World-Record $1.4 Million at Bonhams Auction

The Property Addict / Luxury Lifestyle

Oct 01 2015

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When the Hope Spinel"�a rare 50.13-carat, rose-hued gemstone that was once part of a collection owned by British collector Henry Philip Hope"�crossed the auction block for the first time in nearly a century, it sparked an international bidding war. Mined from the ancient Kuh-i-Lal mines in Tajikistan, the Hope Spinel was classified by the Swiss Gemological Institute as an "exceptional treasure" due to its transparency, flawless cut, color, and size. Shattering its presale estimate of $300,000, and setting a world record in the process, the illustrious gem sold for nearly five times as much. Auctioned by Bonhams during a September 24 sale in London, the Hope Spinel inspired bids from around the globe"�online, in person, and via telephone. The gem was ultimately purchased by a private telephone bidder for $1.4 million"�or $30,000 per carat. The previous record per carat for a spinel was set by Christie's Hong Kong in 2013 when a 7.07-carat spinel and diamond ring sold for $113,413"�or $16,041 per carat. Source: Robb Report hope-spinel-02 hope-spinel-04

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