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"Hope Spinel" Gets Auctioned At Record Price
By Gemexi Team | Jewelry Education- Updated On Mar 23, 2020
The Hope Spinel sold for a staggering $1.5 million at the Bonhams Fine Jewelry sales in London recently. The rare gemstone was out for auction after almost a century and curiosity was ripe about the large jewel.
The spinel was auctioned way past its highest pre-sale estimates of $305,000, thus setting a record for per-carat price for faceted spinel. Each carat of the spinel sold for $30,000. Earlier the highest record for per-carat price of spinel at an auction was $16,000. The purchase was made by a private bidder via telephone.
The spinel is cut in octagonal shape and is set on 19th Century sterling silver and gold brooch. The spinel is surrounded by diamonds. Before the Hope Spinel was put up for auction, Bonhams had got it tested from the Swiss gemological laboratory SSEF. The Swiss lab had confirmed that the stone was from ancient mines which also attributes for its transparency, flawless cut, beautiful color and large size. The spinel was last up for sale in 1917.
This rare gemstone had originally belonged to London banker Henry Philip Hope and his elder brother – thus the name Hope Spinel. The Hope family had at one time also owned the blue Hope Diamond.
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