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Remotely
hidden in the lap of the spectacular snow-capped Himalayas
is the highest sapphire mine in the world. However it's
not the location that has earned the Kashmir gem it's legendary
status, but instead the superiority of their intense soft
blue and the colorfully woven history of their existence and
disappearance in the early 1900's.
Originally in the late 1800's, the deposit which lies at 15,000
feet elevation produced a quantity of material that flooded
the market for nearly a decade. Most people, even today, do
not realize that when dealing with colored stones, the supply
is limited to the small number of pockets that can be located
deep within the earth's crust. These pockets of gemstones
are nothing like the quantity of diamonds that exist in the
world's kimberlite volcanic dikes. The London Mining
Journal of June 16, 2000 reported the annual production
of diamond to be more than 111 million carats. In November
of 1999 Geology Today reported the 1000 mines in Mogok,
Burma produced some 300,000 carats of sapphire annually. These
mines have produced relatively consistent amount of gemstone
for decades, where as the single mine of Kashmir has remained
officially unworked since the 1930's. It wasn't until 1998
that the Jammu & Kashmir government began mining again
and has reported less than 10,000 carats of total production
since 1999 from which less than a fraction of a percentage
is "gem" quality.
Although
these statistics are crude and many other factors could give
support when making a comparison of gemstone production, it
is not unsubstantiated to suggest the production of sapphire
makes up less than 3/10 of 1% of the diamond production and
Kashmir sapphire would therefore make up less than 1% of this
1%. We say the Kashmir gem is almost as rare as chicken's
teeth.
In other words, any potential buyer could call any jewelry
store in any city and find a diamond that suites their specific
desire. But on the other hand, this is literally impossible
with Kashmir sapphire. In a Cigar
Aficionado article of 1997 the author, Ettagale
Blauer, quotes several gemstone dealers saying, "Most
people who are looking for a Kashmir should not even start
looking. It's not coming out of the ground at all, and
you'd have to wait many years." "No matter how much
money is offered, even the most knowledgeable colored stone
dealer with connections all over the gem world--which is to
say, all over the earth--must search and search for such a
rare gem. Unlike diamonds, which are available in virtually
any size and quality up to 10 carats, these colored gemstones
have always been in short supply, particularly in the finest
qualities."
As one of the few people in the world who see Kashmir sapphire
on a regular basis, we know extremely fine Kashmir sapphire
are recognized and coveted from the very day they are discovered.
In many cases the superior quality specimen are concealed
and transported directly to private collectors and gem dealers
across the globe. Most are then quickly recognized for their
inspiring beauty and never see the public's eye. So how do
you begin to place a value on such rare gems?
On a
few occasions these breath-taking blues will be displayed
for bidding. The auction houses provide us the only valid
method of pricing this rare material as seen below. The
only alternative method is to speak with the handle full of
knowledgeable experts in the world.
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| Date |
Location
|
Kashmir
Sapphire
|
Item
Description
|
Lot
Price
|
| 11/01 |
Christie,
Geneva Switzerland |
21.29ct
octagonal |
Ring
by "Cartier" |
$945,348 |
| 11/96 |
Phillips,
Geneva Switzerland |
25
cushion shaped weighing 66.66cts |
Bracelet |
$1,170,000 |
| 10/96 |
Sotheby,
NY |
15
cushion shaped |
Necklace |
$2,500,000 |
| 10/94 |
Christie,
NY |
6.28ct
cushion shaped |
Loose
Gem |
$233,500 |
| 10/89 |
Sotheby,
NY |
5
stones cushion and emerald cut ranged from 10.96 to 36
cts |
Necklace
by "Van Cleef & Arpels" |
$3,520,000 |
| 10/88 |
Christie,
NY |
8
stones (weight ranged from 4.70-10.55 cts) |
Bracelet |
$1,034,000 |
| 04/88 |
Christie,
NY |
9 stones (weight ranged from 4.17-10.52 cts) |
Bracelet
by "Cartier" |
$902,000 |
| 11/79 |
Christie,
Geneva Switzerland |
11.81ct
cushion shaped |
Ring |
$304,875 |
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A survey
among jewelers, reported in Colored Stone magazine,
claims blue sapphire to be the top selling colored stone in
the past four years. The public has realize colored stones
express individuality and are much more rare than diamonds
so they are becoming more and more popular as pleasing gifts
and engagement rings as well as potential investments in 'gem'
qualities. The Duke of Gloucester may have been the first
when he proposed to Lady Alice Montugu-Douglas-Scott with
an exquisite oval Kashmir sapphire ring in the 1930's. Since
then many more woman have received Kashmir sapphire engagement
rings to include Kristie Alley, Susan Sarandon, Sara Ferguson,
Ivana Mazzuchelli Trump, model Heather Mills, Judith Nathan
(Former Mayor R. Guilani's wife) and Princess Diana.
If you're
going to add your spouse's name to this list of unique individuals,
why not offer your special woman the most highly respected
blue gem this world has to offer.
Having
said this, we hope you gain some idea as to the significance
of Kashmir sapphire and it's true rarity and value. We hope
you will continue your research and come to the same conclusion
thus adding to your knowledge and collection of this world's
finest gemstone. KB
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