17ct. Sapphire Smashes Estimate at Bonhams

RAPAPORT... It’s not often that a jewel sells for almost double itspre-auction estimate, but that happened this week with a rare Kashmir sapphireat Bonhams. The 17.43-carat stone fetched GBP 723,062 ($944,713), or close to$54,000 per carat, beating its high valuation of GBP 400,000 ($521,440).

The cushion-shaped, vivid-blue stone dates to the late 19thor early 20th century, and ...