Sapphire

The most versatile of the great coloured gemstones.

Sapphire, unset, from the atelier.

The stone

Sapphires fascinate through their extraordinary range of colour. From the deep royal blue of a Burmese stone through the luminous cornflower blue of Ceylon to the rare orange-pink of a padparadscha — no other gemstone offers a comparable spectrum.

That colour comes from traces of iron and titanium in the crystal. Depending on origin and composition, stones of quite distinct character emerge.

Origins

Burma (Mogok): The classic reference. Deep, velvety blue with a silky lustre. Increasingly scarce on the market, and priced accordingly.
Sri Lanka (Ceylon): Bright and alive. The coveted cornflower blue that connoisseurs call the finest blue in gemstones. Sri Lanka also produces most padparadschas.
Madagascar: Known only since the 1990s. Excellent qualities at comparatively accessible prices — the quiet recommendation for building a portfolio.
Padparadscha: A class of its own: the rare interplay of pink and orange makes it one of the most sought-after gemstones there is. The name is Sinhalese and means lotus blossom.

Sapphire as an investment

Sapphires combine broad acceptance with a deep, liquid market: more buyers and more comparable pieces than for any other coloured stone. Prices for untreated Kashmir, Burmese and Sri Lankan stones have moved clearly upward over the past two decades; an average return cannot be derived from that.

The Kashmir sapphire “Blue Belle of Asia” made USD 17.3 million at Christie's in 2014 — a record for a sapphire.

A broad colour range allows diversification within a single species
High international demand, particularly from Asia
Padparadscha sapphires are among the fastest-appreciating coloured stones
Independent certification is readily available
Historically stable prices with low volatility
A wide span from entry-level to serious investment stones

Quality criteria

Colour: The most important factor by far. Royal blue and cornflower blue are the most sought-after hues; intensity, evenness and saturation set the price.
Origin: Kashmir (all but unobtainable), Burma and Sri Lanka command the highest prices. Origin must be documented on the certificate.
Clarity: Slight inclusions are natural. Eye-clean stones with good colour are the ideal for investment.
Cut: A good cut maximises brilliance and depth of colour. Ovals and cushions are the most common.
Treatment: Unheated sapphires achieve significantly higher prices. Heating is standard practice but must be declared on the certificate.
Certificate: Buy only certified stones: SSEF, GRS, Gübelin or GIA.

The information on this page is provided for information purposes only and does not constitute investment advice. Past performance is not a reliable indicator of future results.

Personally

One sapphire, many blues

Between the deep blue of Burma and the light cornflower blue of Sri Lanka lie worlds, and beside them padparadscha, pink and yellow. I help you find the blue that suits you and tell you honestly whether a stone is worth its price.

Origin and treatment are confirmed independently, by the laboratory of your choice. If you would like to talk about a sapphire, you can reach me directly.