A stunning sapphire, aptly named the “Blue Belle,” could fetch US$8 million to US$12 million at Christie’s Magnificent Jewels auction in New York next month. 

Scheduled for June 17 at Rockefeller Center in New York City, the sale will showcase an expansive selection of premium diamonds and coloured gemstones alongside iconic pieces from legendary houses like Belperron, Bulgari, Cartier, Harry Winston, JAR and Van Cleef & Arpels, to name a few.

The 392.52-carat Blue Belle, however, is expected to garner considerable attention. Christie’s International Head of Jewelry Rahul Kadakia highlighted the sapphire's  “exceptional size, colour and clarity.”

“Sapphires of this calibre are extraordinarily rare. This remarkable stone must be considered among the most prestigious coloured gemstones to appear on the market in many years – truly worthy of any world-class collection,” added Kadakia.

The Blue Belle was discovered in Sri Lanka in 1926. Acquired in 1937 with the intention of being presented to Queen Elizabeth (later The Queen Mother) on King George VI’s coronation, the jewel ultimately never entered the royal collection, according to the auction house. 

After passing through several distinguished owners, the Blue Belle reemerged at auction in Geneva in 2014 and now returns to Christie’s where it will once again take centre stage as the star lot of the auction.

Another highlight of the auction is the Marie-Thérèse pink diamond, a 10.38-carat kite-shaped fancy purple-pink diamond believed to date to the mid-18th century. Mounted by JAR, the ring could sell for US$3 million to US$5 million, noted Christie’s. 

According to royal lore, Queen Marie Antoinette entrusted her most treasured jewels to her faithful coiffeur on the eve of her failed escape from Paris in 1791, hoping to one day reclaim them. Though fate intervened, the jewels were eventually passed down to her only surviving child, Duchess Marie Thérèse de Angoulême, and later to her niece, Duchess Marie Thérèse de Chambord. Though not known for certain, it is likely that this diamond was part of this inheritance.

Generations later, a will identified the diamond’s next known owner: Queen Marie Theresa of Bavaria, who referred to it as “a pink solitaire diamond from Aunt Chambord.” 

"Presented in a velvet case containing a hat pin bearing the Austrian Imperial Warrant – likely dating to 1868 – the diamond’s provenance reflects its imperial legacy. The jewel last surfaced at auction in Geneva in 1996, was offered by a member of a European royal family and has remained out of public view until now. Today, it has been reimagined by JAR and set into a spectacular ring that transforms it into a contemporary masterpiece, imbued with centuries of royal history, elegance and intrigue," noted the auction house.