5-Carat Sapphire to Lead Bonhams NY Sale

RAPAPORT... Bonhams will offer a Kashmir sapphire and diamond ring at its New York sale this month, expecting it to fetch up to $480,000.The ring, from the late 19th century, contains a cushion-shaped, 5.22-carat unheated sapphire set within a diamond frame. The piece will lead the May 19 auction, Bonhams said last week."Kashmir sapphires are among the most highly prized gems in the world due to their rarity, scarcity and beauty," said Caroline Morrissey, head of jewels at Bonhams New York. "The blue tint of this...sapphire is piercingly bright, and beautifully set within a charming old European-cut frame of 10 exquisite diamonds."A pair of diamond and onyx brooches with Colombian emeralds weighing 49.06 and 48.42 carats will also go under the hammer. Bonhams expects those to garner up to $340,000. An oval-shaped, modified brilliant-cut, 8.21-carat diamond ring from a "distinguished" collection is also up for sale, the company added. Created in 1910, the piece carries a high valuation of $270,000. Other notable items include a ring featuring a pear-shaped, modified brilliant-cut, 2.02-carat, fancy-intense-orangey-pink diamond flanked by heart-shaped, brilliant-cut diamonds, with a top estimate of $260,000. Meanwhile, a ring by Tiffany & Co., which features an oval-shaped, mixed-cut, pigeon's blood Burmese ruby bracketed by triangular-cut diamonds, has a high price tag of $150,000.Bonhams will also offer signed jewels from designers including Cartier, Bulgari, and Van Cleef & Arpels.Image: The 5.22-carat sapphire and diamond ring. (Bonhams)