Chopard has unveiled a high jewelry collection crafted from one of the world’s largest emeralds.
The Swiss jeweler bought the 6,225-carat monster (1.22kg) from Gemfields in 2018 for an undisclosed sum.
The rough emerald, named Insofu -“elephant” in the local Bemba language – has since yielded 850 carats of gem quality emeralds, the first of which now feature in a 15-piece ensemble of necklaces, chokers, rings, earrings, a bracelet, and a watch.
Among the highlights of the Insofu collection are an elephant-shaped pendant with 50 carats of emeralds, and diamonds forming tusks, which can also be worn as a brooch; a Great Gatsby-inspired 4-in-1 necklace featuring a 15.53-carat octagonal emerald and a diamond choker with a 2.50-carat square-cut emerald.
Insofu was recovered by London-based Gemfields at its Kagem mine, in Zambia.
At the time Gemfields CEO Ian Harebottle said: “This is a unique find. The Insofu displays wonderful color and good translucency. Its sheer size, rich color and fine protective biotite shell makes it difficult to see deep into the gem.
“However, all indications suggest that the core of the emerald is competent and that it should yield a number of cut gems of significant size.”
Gemfields suffered a slump in sales and prices at its latest auction of rough emeralds from its Kagem mine, in Zambia.
The UK-based company blamed conflicts, elections, and economic uncertainty in China, compounded by a diary clash with an emerald competitor, reportedly selling at low prices.
Gemfields sold only 61 per cent of the almost 4m carats on offer in a series of auctions ending 13 September in Jaipur, India, and online. At the last four sales it sold well over 90 per cent.
Total sales were $10.8m, down 67 per cent on its September 2023 sales. The average price per carat was $4.47, down by a half on the same event last year.
Gemfields says the mix and quality of lots varies, so the results of each auction are not always directly comparable.
Today’s overall result is weaker than expected,” said Adrian Banks, Gemfields’ managing director of product and sales, “exacerbated in part by a competing emerald producer scheduling their own auction to finish in early September 2024, in the middle of ours, and selling through their emeralds at what customers reported as low prices.”
He said the company was committed to acting responsibly – as it did at this auction – by withholding auction lots when fair market prices were not achieved.
A Muzo emerald and diamond necklace is expected to sell for up to HKD 80 million ($10.3 million) when it goes under the hammer at Christie’s Magnificent Jewels auction in Hong Kong on November 29.
The double rivière piece, designed by Edmond Chin for the House of Boghossian, contains 28 perfectly cut and matched, near-flawless emeralds, weighing a total of 117.60 carats. The gems were hand-selected by Boghossian CEO Albert Boghossian, the auction house said Tuesday.
Christie’s expects the necklace to prove extremely popular, given it sold the Grand Muzos, a pair of earrings containing emeralds from the same Colombian mine, for almost $100,000 per carat last year.
“The offering of this necklace marks a major moment in the auction world, and will no doubt create a stir among global connoisseurs,” Christie’s said.
