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94-carat Paraiba Tourmaline 'Blue Lagoon' Withdrawn From Sotheby's Auction

94-carat Paraíba Tourmaline withdrawn from Sotheby's Auction, before the sale. It was going to be the biggest and best Paraíba tourmaline ever to be sold at auction. It was thought to fetch about $1.4 million to $2.7 million.

Nov 13, 20231.9K Shares179.3K ViewsWritten By: Johnny K.Reviewed By: Luke Williams
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94-carat Paraiba Tourmaline 'Blue Lagoon' Withdrawn From Sotheby's Auction

94-carat Paraíba Tourmalinewithdrawn from Sotheby's Auction, before the sale. It was going to be the biggest and best Paraíba tourmaline ever to be sold at auction. It was thought to fetch about $1.4 million to $2.7 million.

The 93.94-carat Paraíba tourmaline known as "The Blue Lagoon" was taken out of Sotheby's Magnificent Jewels and Noble Jewels sale in Geneva on Wednesday. It was put in a custom-made high-end necklace by the 130-year-old European Maison Adler Joailliers. The Blue Lagoon asked them to make the necklace just for them. The sale house didn't say more about their choice.

94-carat Paraiba Tourmaline Withdrawn From Sotheby's Auction

94-carat Paraiba Tourmaline 'The Blue Lagoon' on a neck
94-carat Paraiba Tourmaline 'The Blue Lagoon' on a neck

Sotheby's held its highly anticipated Magnificent Jewels and Noble Jewels sale in Geneva on Wednesday. The event was a stunning display of wealth and luxury, featuring a wide range of beautiful gemstonesand classic jewelry. But for a short time, the 94-carat Paraíba tourmaline, which was appropriately called "The Blue Lagoon," was suddenly taken off the market.

According to Sotheby's, Mozambique has become not only the world's most-producing country for gemstones but also one of the best places to find high-quality colored stones. The stone is a Cuprian tourmaline. A 55.22-carat ruby from the country sold for more than $30 million at Sotheby's New York this summer.

Paraíba tourmalines are a type of Cuprian tourmaline. They were first found in the Paraíba area of Brazil in the 1980s and got their name from there. However, the name is now used for any greenish-blue stone with a vivid to deep saturation.

Sotheby's said that this beautiful Paraíba tourmaline was the biggest and best specimen they had ever seen at a sale. The exit, which was worth between 1.4 million and 2.7 million CHF ($1.4 million to $2.7 million), caused a lot of interest and guesswork. As a result, Sotheby's refused to say why they made this last-minute choice, leaving fans and attendees guessing.

No matter what, the show had to go on, and it did. A total of 41.8 million CHF ($46.5 million) was raised at the sale, which was well within the expected range of 37.9 million CHF ($42.1 million–$64.6 million). Catharine Becket, head of Magnificent Jewels at Sotheby's in Geneva, talked about how well the event went. She said that Sri Lankan rubies were even better than expected and that white diamondsolitaire ringscontinued to show that they were the best in the business.

Jewels from the 1980s, especially those from Bulgari and Marina B, which are both Italian giants, were the talk of the town. Their classic styles wowed jewelry experts. The 103.62-carat "LoveStone," a naturally fancy intense yellow diamond ring, sold for almost $2.5 million, which was within its expected range of $2 million to $4 million.

One of the amazing pieces was "Kallima," a bright yellow diamond ring with emeralds and diamondsthat was made by Van Cleef & Arpels around 2012. Surprisingly, this butterfly-themed masterpiece sold for a huge $960,000, a lot more than its expected value of $400,000 to $510,000.

Emerald jewelry also got some attention. For example, Cartier's "Drapery" demi-parure from 1958, which included a necklace and ear clips with a Mughal theme, sold for a little more than its estimate of $508,000.

A 19.03-carat Kashmir sapphirethat was expected to sell for between $1 million and $1.5 million did not. However, other blue gems stole the show. A pair of fancy intense blue and fancy deep blue diamond earringssold for more than $1 million, which was more than their guess of $510,000 to $710,000. A 4-carat fancy intense green diamond ring sparked heated bids and eventually sold for $1.8 million, well within the range of estimates made before the sale. This showed how appealing colored diamonds are.

It didn't have "The Blue Lagoon," but Sotheby's continued to show how important it is in the world of high-end jewelry sales, leaving fans and attendees eagerly awaiting the next show of rare and beautiful items.

Final Words

In a surprising turn of events, the highly anticipated Sotheby's Magnificent Jewels and Noble Jewels auction in Geneva witnessed the unexpected withdrawal of the centerpiece - the 94-carat Paraíba Tourmaline, famously known as "The Blue Lagoon."

A 94-carat electric blue Paraiba diamond is likely to sell for more than $2.5 million at Sotheby's Magnificent Jewels and Noble Jewels sale in Geneva on November 8.

The most valuable type of tourmaline is Paraiba. The bright teal, turquoise, and neon blue stones made a big splash when they were found in 1989 by a prospector named Heitor Dimas Barbosa in the tropical seaside state of Paraiba, Brazil.

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