Diamonds are one of the most prominent physical representations of wealth and value you can find. Crafted through very long-term natural processes, they often appear in imagery associated with the wealthiest of the wealthy, frequently even signifying royalty.
Easily one of the most recognizable diamonds in the world is the Hope Diamond, estimated to be worth roughly a quarter of a billion dollars. On top of its incredible beauty, the Hope Diamond carries an illustrious history that contributes significantly to its great value.
Rubies have been appreciated by royalty in both Eastern and Western culture. Discover the alluring qualities of this rare gemstone and some of Fortuna’s favorite ruby jewels offered in past auctions.
Fortuna is excited to delve deeper into the history and lore of July’s birthstone, the magnificent ruby. Because of the deep blood-like color, the precious gemstone has been thought to hold the power of life in ancient cultures. The stone was believed to protect the lands of kings and noblemen in ancient India, and has long been perceived as a symbol of royalty in medieval Europe. In fact, the literal translation of “ruby” in Sanskrit is the “king of gemstones.” The deep red tint of the ruby has naturally also come to symbolize love and passion and has become the gemstone of choice in romantic gifts.
Rubies in Popular Culture
Rubies have such a long and rich history of being appreciated in both the East and West, it is no wonder that their influence stretches into cinema and popular culture. One of our favorite examples would be the iconic ruby red slippers worn by Dorothy in the “Wizard of Oz.” While the original ruby slipper were actually made of felt, glue, and stones more suitable to crafting, for the 50th anniversary of the film, Harry Winston jewelers created a real-life pair of the iconic slippers—using 50 carats of diamonds and nearly 1,400 carats of rubies. And thus, the famed American jewelry house created the most expensive pair of shoes in the world. The slippers, which were meticulously set with 4,600 beautiful ruby stones, is valued at $3 million. Rubies have also made their way into your favorite rom-coms. In the 1990 film “Pretty Woman,” Richard Gere gifts Julia Roberts with an accessory as red as her hair. The wealthy tycoon presents her with a custom ruby necklace set with 23 pear-cut rubies. And unlike most movie props, the necklace was actually real—custom made by French jeweler, Fred Joaillier. It consisted of 23 pear-shaped rubies accented by diamonds in the form of a heart. This scene was made all the more iconic by Gere’s snapping the box shut on Ms. Roberts’s fingers as she goes to put on the lavish accessory. You can relive the comedic moment below.
Our Favorite Ruby Jewels Seen At Auction
Fortuna has had the pleasure of offering some of the most stunning ruby jewels at auction. Our specialists have come across fine rubies that have adorned jewelry by the renowned makers of our time to jewels dating back to the Victorian and Art Deco style eras. It was a true delight to recollect some of the finest ruby jewels our specialists have set their eyes on.
ROCK CRYSTAL CONVERTIVLE CUFF BROOCH, ATTRIBUTED TO SUZANNE BELPERRON
Achieved $78,125 at Fortuna’s 2018 sale, The Estate of Bo Legendre.
When auctioning the estate of legendary New York heiress and socialite, Bo Legendre, our jewelry team faced the daunting task of pricing her vast collection of jewelry. Our top jewelry specialists knew a select group of pieces had to be the work of the master jeweler of the early 20th century, Suzanne Belperron. Belperron believed her style to be her signature, and while she was right, it made it extremely difficult to authenticate her works. Through vigorous research, our specialists were able to identify and acquire certificates of authenticity for five of the pieces in her collection and attestations from famed Belperron expert, Mr. Olivier Baroin for the rest. Like many of Belperron’s creations, this rock crystal convertible cuff and flower brooch was truly ahead of its time and unlike any of the popular Art Deco jewels of the age. The brooch is set in platinum, displaying beautiful cabochon rubies weighing a total of approximately 5.90 carats, and round brilliant-cut diamonds weighing a total of approximately 0.20 carat, with I-J color and VS clarity. The unique design can be worn as a brooch fastened by double pin-stems or attached to an 18K white gold cuff. This wondrous piece was offered for $10,000; but with Belperron’s name attributed to the design, the lot ended up achieving $78,125 at auction.
A 2.34-CARAT UNHEATED BURMESE RUBY AND DIAMOND RING
A Superb 2.34-Carat Unheated Burmese Ruby and Diamond Ring. Sold for $48,800.
Featuring a very lively, unheated Burmese cushion-cut ruby, this 2.34-Carat Ruby and Diamond Ring achieved more than double its starting bid at Fortuna’s 2017 Summer Fine Jewels sale. The ring comes in a platinum setting and is accented by round brilliant-cut diamonds, and is reminiscent of Jessica Simpson’s 2010 ruby and diamond engagement ring. Our in-house expert gemologists determined the ruby’s color to be “Pigeon’s Blood”—a rare characteristic among rubies that greatly enhances their value. The color is described as having a bright red hue with a small tint of purple that appears deep red when seen in light. This extraordinary color contributed in earning the ring $48,000 at auction.
VAN CLEEF & ARPELS “COUSCOUS” RUBY AND DIAMOND BRACELET
Achieved $31,250 at Fortuna’s February Fine Jewels auction in 2018.
The french jewelery maison, Van Cleef & Arpels, has long been acclaimed for its elegant designs and use of quality gemstones. In fact, in 2019 the jewelry house released their “Treasures of Rubies Collection,” which featured 3,000 carats worth of rubies set into 60 unique pieces. This Van Cleef & Arpels “Couscous” Ruby and Diamond Bracelet is no exception to the brand’s dedication in creating only the finest ruby jewelry. Their jewelers choose only the cleanest of stones—a truly difficult task due to the presence of chromium in rubies. While chromium gives rubies their beautiful hue, it also makes them prone to cracks. As a result, very few rubies are able to grow intact into larger sizes and form perfect gemstones. Van Cleef & Arpels selects only the finest natural rubies possible, all of which are unheated and well-cut stones. Crafted in 18K gold, the bombe bracelet of polished gold boules is accented by 156 circular-cut rubies, weighing a total of approximately 8.00 carats—each ruby graced with a remarkable red. The rubies are flanked by three rows of round brilliant cut diamonds, creating a beautiful contrast. This eye-catching accessory had a starting bid of $15,000 at Fortuna’s February Fine Jewels sale in 2018 and ended up achieving $31,250 at auction.
CARTIER FINE BURMESE UNHEATED RUBY AND DIAMOND RING
Achieved $27,500 at Fortuna’s Magnificent Jewels auction in November 2019.
Some of the most famous rubies in the world were set into designs by the French jewelry maison, Cartier. In 1957, Elizabeth Taylor was filmed being gifted a suite of ruby Cartier jewels by her husband famed film producer, Mike Todd. The images of her glamorous lifestyle made waves everywhere as she had already been wearing a diamond tiara while swimming in the couple’s pool. Taylor wore the ruby jewelry many times throughout her life, to red carpet events and when meeting royalty. This Cartier Fine Burmese Unheated Ruby and Diamond ring holds the same glamour and show which would make it worthy of Elizabeth Taylor. Crafted in 18K gold and featuring a 1.63-carats cushion-shaped Burmese unheated ruby, this spectacular cocktail ring is covered with round brilliant-cut diamonds of E-F color and VS clarity. This magnificent domed accessory achieved $27,500—more than triple its starting bid—from an excited phone bidder at our 2019 Magnificent Jewels sale.
ART DECO 6.36-CARAT UNHEATED BURMESE RUBY AND DIAMOND PLATINUM BROOCH
Achieved $25,000 at Fortuna’s 2018 Magnificent Jewels auction.
This antique 6.36-Carat Unheated Burmese Ruby and Diamond Platinum Brooch is quintessential Art Deco design and an excellent example of spectacular ruby gemstones. Crafted in platinum, as many Art Deco pieces often were, this unique brooch features an unheated Burmese ruby cabochon weighing an impressive 6.36 carats. It is difficult to find a large ruby of such a natural pure red hue. This deep red is augmented all the more by accenting it with 60 old European-cut diamonds of F-G color and VS clarity. This contrast in colors and the geometric design is highly characteristic of the Art Deco period. Unsurprisingly, this fine piece of jewelry history achieved $25,000 at auction.
BULGARI BURMESE RUBY AND DIAMOND “TROMBINO” RING
Achieved $28,125 at Fortuna’s April 2018 auction, The Estate of Bo Legendre.
One of the largest rubies in the world is known as the Rajaratna Ruby. The ruby is a whopping 2,475 carats and currently resides in Bangalore, India. This impressive ruby first belonged to the Kings of Vijayanagar, a major South Indian empire between 1300 to 1600 AD, and dedicated this stone to the worship of the god Shiva. This impressive ruby, is cut as a cabochon, as were many of the King’s smaller rubies.
The tradition of cutting larger rubies as a cabochon remains today. This Bulgari cabochon unheated Burmese ruby weighs approximately 10.00 carats and is enhanced by stunning round brilliant and baguette-cut diamonds. The Trombino (translated as “little trumpet”) is one of Bulgari’s most time enduring designs. The Italian jewelry brand first introduced the design in the 1930s where it gained instant popularity. The design brought attention to the gemstone at the center and evoked a sense of royalty. It was instantly popular because it allowed the gemstone to stand proud. This Bulgari Burmese Ruby and Diamond “Trombino” Ring evokes that same regal quality as Bulgari’s first designs. This ring is made all the more worthy of nobility with the setting of one of the “king of gems.”
CARTIER RUBY AND DIAMOND RING
Achieved $22,500 at Fortuna’s September 2017 Fine Jewels auction.
One would like to think that Cartier only selected rubies as deep a red as the red leather boxes they are gifted in; and that certainly seems to be the case for this Cartier Ruby and Diamond Ring. This beautiful three-row ring is triple the fun, with each row sitting whimsically atop one another, each featuring a fine oval-shaped ruby cabochon, set diagonally from each other. The rubies are surrounded by pavé-set round-cut diamonds, which further enhances the color of the rubies with its beautiful contrast. This unique piece of jewelry design achieved $22,500 at our September 2017 Fine Jewels sale.
Get a Free Valuation at Fortuna Auction
At Fortuna Auction, we want to be a resource for all who wish to learn more about watches and jewelry—replete with stylistic periods, history of craftsmanship and designers—as well as how to understand the real market value of these fine collectibles.
You can consult our jewelry experts for free, unbiased valuations, with no obligation to sell. And if you do decide to sell at auction, our team will market your item to millions of competing bidders located in more than 50 countries. If you’re interested in buying or selling at one of Fortuna’s upcoming auctions, feel free to contact our office today.
FORTUNA® is excited to give you a closer look into the deep history of pearls and share some of our highest selling pearl lots.
In honor of June’s birthstone, we are excited to share the cultural importance of pearls and dive deep into the origins of this natural treasure. The beautiful underwater gem is found in mollusks and clams and is the only precious stone to come from a living creature. Their association with bodies of water makes them an apt choice for a summertime birthstone; however, pearls have held significance throughout jewelry history, long before birthstone months existed. In Persian mythology, pearls were thought to be the “tears of the gods,” while ancient Chinese legend held that the moon used powers to create pearls in order to mirror the moon’s celestial glow and mystery.
“I feel undressed if I don’t have my pearls on. My pearls are my security blanket.”
Lady Sarah Churchill
What augments the allure of pearls even further is the infinitesimal chance of them existing naturally. Pearls occur in nature by the presence of an irritant within the mollusk or oyster, which may be a parasite or even a single grain of sand that has made its way into the shell. The mollusk produces a coating layer called “nacre.” It takes many months, even years, for the oyster to produce a pearl. The acquisition of natural pearls requires long dives into the ocean’s depths, most of which prove to be fruitless. Only 1 in about 10,000 wild oysters will yield a pearl, and even fewer will produce a pearl of gem quality.
As such, contemporary jewelers have almost entirely relied on the cultured pearl industry to source pearls. Pearl culturing is when pearl farmers inject an irritant into mollusks for the specific purpose of producing pearls. This method does away with the need for long and dangerous dives in search of the pearls.
Pearls that Shaped History
It would be a huge disservice to discuss pearls and fail to mention Cartier and arguably the most famous example of pearl jewelry. While Cartier is renowned worldwide for its long history of jewelry excellence, a large part of their legacy is owed to pearls. You may be running through a list of iconic Cartier pieces in your mind: the Love Bracelet, the Panthère d’Cartier, etc. But if you think bigger, you’ll picture the famous Fifth Avenue Cartier mansion, a New York landmark. Remarkably, the impetus behind Cartier’s monumental acquisition of this iconic structure can be attributed to two strands of pearls.
Portrait of Mrs. Mae Caldwell Manwaring Plant Rovensky, wearing the famed Cartier pearl necklace. Courtesy of Preservation Society of Newport County
In 1909, Pierre Cartier arrived to New York in an exciting attempt to bring Cartier to the forefront of the American market. He set up a small office on 5th Avenue to sell his brother’s creations. It wasn’t until Maisie Plant set her eyes on a Cartier double strand pearl necklace that the French jeweler had the opportunity for such a magnificent piece of real estate. Maisie was the young wife of a very wealthy and eager-to-please man, Morton F. Plant, the heir to the Plant railroad and steamship empire, and she desperately wanted the coveted necklace. Mr. Plant agreed to exchange his Renaissance-style mansion on the corner of 5th Avenue and 52nd Street for what was widely believed to be the most expensive pearl necklace in the world, composed of two strands of enormous natural South Sea pearls, one consisting of 55 pearls; and the other, 73 perfect pearls—estimated to be over $20 million in today’s dollars. Even for a jeweler of such prestige, it was no easy feat for Cartier to acquire such a necklace. With the exchange, the old 5-story townhouse was converted into the New York Headquarters for Cartier, and remains so today.
“Pearls are always appropriate.”
Jackie Kennedy
Our Favorite Pearl Jewels Seen At Auction
Cartier Art Deco Natural Pearl Diamond and Rock Crystal Platinum
Achieved $140,625 at FORTUNA®’s June Fine Jewels auction in 2018.
This Cartier Art Deco Natural Pearl Diamond and Rock Crystal Platinum Bracelet was crafted in the same era as Maisie’s beloved necklace. The Art Deco era saw a combination of seemingly clashing materials resulting in wonderful designs. Cartier created beautiful contrast by juxtaposing the geometric rock crystal accent with six rows of round natural cream-colored saltwater pearls. The delicate, fluid pearl strands make a bold statement when combined with the rock crystal and diamond accents. This incredible piece of history and artistry was estimated to sell at auction for between $50,000 – $70,000. However, the power of the pearl seems to hold true, for after a starting bid of $30,000 the piece ended up achieving $140,625 at FORTUNA®’s Fine Jewels auction in June 2018.
Rene Boivin Cultured Pearl Diamond and Emerald Bracelet
Achieved $22,500 at FORTUNA’s April Important Jewels auction in 2020.
The French design house of René Boivin was known to create some of the most original and modern sculptural pieces of the time, setting themselves apart from the typical aesthetic that characterized jewelry of the 1930s and 1940s. The collectability of René Boivin jewelry continues to grow over time, as demonstrated by this particular piece which achieved $22,500 at auction. Exquisitely crafted in platinum with an 18K white gold tongue, strung with perfectly matched cultured pearls, featuring a magnificent clasp with a large old European-cut diamond accented by deep green emeralds, we can only imagine how many heads turn as a result of this piece walking into a room.
A Double Strand Natural Saltwater Pearl Necklace
Achieved $143,750 in FORTUNA’s April Important Jewels auction in 2018.
Much like Maisie’s coveted necklace, this next high achieving pearl lot features a double strand of graduated natural saltwater pearls. This necklace, exuding timeless elegance and class, had a modest estimate of estimate of $20,000 – $30,000 in our April 2018 Important Jewels sale. With a starting bid of $12,500, this necklace eventually achieved an impressive $143,750 at auction, proving pearls still reign supreme.
“A woman needs ropes and ropes of pearls.”
Coco Channel
Cartier South Sea Pearl Necklace
Achieved $22,500 at FORTUNA’s April Important Jewels auction in 2018.
A timeless classic, this fine, single strand of graduated South Sea pearls is completed by an 18K white gold clasp set with round brilliant-cut diamonds weighing a total of approximately 0.98 carats. The kind of necklace handed down for generations made its way into our auction with a starting bid of $12,000 and achieved $22,500 at auction. While the pearl necklace appears effortlessly elegant, it was no easy feat to find such well-matched pearls for this piece. Whoever has the outdated notion that pearls are frumpy and the accessory of old women, think again. Pearls are as prominent now as ever before, being worn by everyone from the Queen of England to Scarlett Johansson. In fact, recent years have seen the adornment being worn by notable male figures as well, including Harry Styles, Shawn Mendes, the Jonas Brothers, and A$AP Rocky—promising for the demand of these pieces to grow alongside their new market.
A 50.00-Carat Aquamarine, Diamond and Pearl Necklace
Achieved $24,400 at FORTUNA’s June Jewels auction in 2017.
Pearls have a natural association with water. However, another stone not naturally found in the depths of the ocean has also come to be associated with the mighty expanse of the sea; aquamarine bore its name from its deep blue hue resembling the sea. This 50.00-Carat Aquamarine, Diamond and Pearl Necklace was offered by FORTUNA for an original $13,000 and went on to achieve $24,400 at auction. Featuring a modified brilliant-cut aquamarine, weighing approximately 50.00 carats, accented with old European-cut and transitional-cut diamonds, hung from a seed pearl necklace, this necklace like many antique jewels can be worn in multiple ways, with the detachable pendant doubling as a clip-on brooch.
“Pearls are the gems of queens and the queens of gems.”
Grace Kelly
Harry Winston Very Fine Cultured Pearl and Diamond Earrings
Achieved $13,750 at FORTUNA’s October Jewels auction in 2019.
Though known as the King of Diamonds, Harry Winston is no stranger to pearls. In fact, the 2019 Harry Winston New York city collection was led by a Pearl and Diamond draperies earrings and necklace suite, proving once more that pearls remain as quintessential to New York style as the day Audrey Hepburn put on her multi-strand pearl necklace and gazed into the windows of Tiffany & Co. as Holly Golightly. This particular set of earrings is set with white cultured pearls with rose overtones and a high luster. The June birthstone is accented by marquise-cut diamonds of approximately 3.6 carats total and are set to create the shape of a flower or sun. These striking earrings were offered for $8,000 and achieved $13,750 at auction.
Get a Free Valuation at FORTUNA®
At FORTUNA®, we want to be a resource for all who wish to learn more about watches and jewelry—replete with stylistic periods, history of craftsmanship and designers—as well as how to understand the real market value of different types of collectible jewelry and watches.
You can consult our jewelry experts for free, unbiased valuations, with no obligation to sell. And if you do decide to sell at auction, our team will market your item to millions of competing bidders located in more than 50 countries. If you’re interested in buying or selling at one of Fortuna’s upcoming auctions, feel free to contact our office today.
Taking inspiration from Grecian, Byzantine, and a variety of other ancient jewelry styles to create contemporary pieces, the Athenian goldsmith Ilias Lalaounis has gifted the world with an appreciation for the venerable art of adornment.
Lalaounis started working as an apprentice in his family’s jewelry company in 1940. In 1969, he decided to separate from the family business to start his own production. Focusing mainly on the fabrication of chains, Lalaounis would later introduce ancient Greek revival pieces to incredible success. The jewelry house achieves the international recognition that it was striving for when in the 1960s, Aristotle Onassis started purchasing pieces for Maria Callas, as well as his later wife, Jacqueline Bouvier Kennedy.
Ilias Lalaounis Pearl Necklace (Lot 2108) and matching earrings (Lot 2109), offered in the November 2020 Jewels & Watches auction.
An artist as well as a jeweler, Lalaounis explored the ancient jewels of his ancestors to breathe new life into forgotten crafts. He schooled his fellow craftsmen in the production of his pieces, using ancient techniques such as granulation, filigree, hand-weaving, and hand-hammering to create pieces that are steeped in antiquity. His inexhaustible creativity and appreciation of antique crafts led him to be the first goldsmith to be honored by the Académie des Beaux-Arts et des Lettres, for his contribution to the art of jewelry.
History of Ilias Lalaounis
Born in 1920 as a fourth-generation Athenian goldsmith, the art of fine jewelry crafting was always Ilias Lalaounis’s destiny. After taking the helm at his family’s jewelry firm, Lalaouinis began to pave the path for his future passion — blending a love for Grecian art and jewelry-making practices with the twist of modern technology. Before long, Lalaounis was making a name for himself as he crafted unique pieces that reimagined ancient Greek artifacts.
Introducing His Collection to the World
Lalaouinis’ first collection — which was heavily inspired by classical and Hellenistic art — debuted in 1957. This launch was met with international acclaim, providing the perfect starting point for a new company, which he would start more than a decade later.
Lalalounis’ company presented an avenue to delve even deeper into his distinct style, which was characterized by a focus on gold materials. He primarily drew inspiration from the historical periods spanning from prehistoric Minoan art through the art of the English Tudors, as well as humanistic elements of nature and animals.
Expanding His Legacy Overseas
Lalaounis’s company soon found success overseas, expanding to galleries across Europe, the U.S. and Asia. Between 1969 and 2002, Lalaounis presented 50 collections worldwide. In 1993, he unveiled the Ilias Lalalounis Jewelry Museum, located at the foot of the Acropolis in Athens. This museum — run today by his daughters — continues to be a cultural center connecting ancient history with the present day through jewelry.
Ilias Lalaounis Hinged Choker (Lot 2110) and matching bracelet (Lot 2111), offered in the November 2020 Jewels & Watches auction.
Discover Ilias Lalaounis’s Most Beloved Pieces
Ilias Lalaounis is said to describe his own pieces as “jewelry with soul.” This inspiration paved the way for a collection of lifelike pieces that draw incredible warmth and vivacity from each gemstone’s striking beauty. His iconic style is characterized by an orchestration of ancient styles with bold reimagined statement pieces. It is no surprise that Ilias Lalaounis fine jewelry has earned its place among a lineage of premium artwork.
In line with the unique craftsmanship of their creator, Lalaounis’s most iconic pieces cannot be defined. Among his most famed work, you’ll find pieces from his timeless animal kingdom collection. These include a gold necklace with lion heads featuring dazzling ruby eyes and an exquisite brooch with interlocked bull horns inlaid with sapphires. His dramatic gold statement pieces — including intricate gold cuff bracelets and 18-karat gold torque necklaces — are also commonly hailed as some of his most striking works.
Ilias Lalaounis Bull Brooch, featuring a mix of textured gold for the fur and horns of the bull—truly representative of the Greek designer’s mastery of goldsmithing.
Collections inspired by Helen of Troy and the Glory of Byzantium now take the place among his most treasured pieces, sought after around the world. From the neolithic era to ancient Greece, Lalaounis’s most iconic pieces reflect how history has shaped us and remains vibrantly alive in our culture today.
Claim Your Own Iconic Jewelry Piece at Our Upcoming Auction
Fortuna Auction is excited to offer a desirable collection of Lalaounis’s iconic and fashionable pieces including a bold brooch featuring bull heads with interlocking horns and pink sapphire-set eyes, as well as a garnet ring with filigree details fit for a Roman empress. Click here to view all the Ilias Lalaounis jewelry offered in Fortuna’s upcoming November Jewels & Watches sale. Our upcoming auction is a rare opportunity to purchase your own larger-than-life Ilias Lalaounis jewelry or sell yours at auction.
