'The Regent Kashmir' Breaks Sapphire Price Record at Christie’s Hong Kong

A sapphire that made headlines 10 years ago has once again etched its name into the record books. Just last week, "The Regent Kashmir," a 35.09-carat antique cushion-shaped sapphire, achieved a staggering $9.5 million at Christie’s Hong Kong, setting a new world record for highest price per carat ever paid at auction for a sapphire — $271,515.

Revered for its unheated royal blue hue and Kashmir origin, The Regent Kashmir eclipsed the previous record of $243,703 per carat, held by the 27.6-carat "Jewel of Kashmir" sold at Sotheby’s Hong Kong in October 2015.

In May of that same year, The Regent Kashmir had commanded $7.4 million at Christie’s Geneva, with a then-record-setting price of $209,689 per carat. The sapphire’s triumphant return to the auction block in 2025 reaffirms its place among the most exceptional gems ever offered at auction.

Described by Christie’s as a “once-in-a-generation masterpiece,” The Regent Kashmir is set in a platinum ring and flanked by round brilliant diamonds. According to a report from the Swiss Gemmological Institute, the gem displays an “attractive and saturated blue color” and “outstanding clarity,” made even more vivid by its expert cutting. Its velvety “royal blue” hue, a hallmark of fine Kashmir sapphires, is attributed to subtle inclusions and trace elements unique to the storied mines of Kashmir in the Himalayas.

Kashmir sapphires, mined primarily in the late 19th and early 20th centuries, are among the rarest and most sought-after gemstones in the world. Their unparalleled coloration and natural (untreated) state significantly enhance their desirability and value.

Although The Regent Kashmir broke the price-per-carat record for a sapphire and sold above its pre-sale low estimate of $8.3 million, it fell short of its $12.1 million high estimate.

Credit: Image courtesy of Christie’s.