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Update of the 13th November 2024 – Geneva.
The Aga Khan emerald was sold yesterday at Christie’s in Geneva for CHF7,765,000 | US$8,859,865, 55 years after it was originally offered at the first Christie’s Jewellery auction to be held in Switzerland. It was formerly part of the Collection of Nina Dyer, the British socialite who was briefly married to Prince Sadruddin Aga Khan, sold in 1969 to benefit animal welfare. The highlight of the Collection at the time, the emerald was offered as lot 106 and made CHF 900,000 | US$75,000.
A Jewel’s Journey Through Time
On May 1, 1969, the opulent halls of Le Richemond Hotel in Geneva buzzed with anticipation as Christie’s unveiled its inaugural Magnificent Jewels sale.
“Christie’s Geneva had only opened its doors six months prior to the sale,” reminisces Max Fawcett, head of Jewellery at Christie’s in Geneva. The timing was impeccable—Swiss banks were flourishing, and minimal tariffs on jewellery made Switzerland a magnet for luxury brands and high-end auctions. “While Zurich and Basel were considered, Geneva naturally emerged as the epicentre of luxury,” Fawcett adds.
The auction showcased 108 exquisite lots, drawing illustrious European collectors and representatives from prestigious jewellery houses such as Boucheron, Bulgari, Cartier, Chaumet, and Harry Winston.
Among the glittering array, one piece captured everyone’s attention: a “magnificent emerald and diamond clip brooch, composed of a superb square-cut emerald bordered by twenty navette-cut diamonds forming a fancy lozenge-shaped cluster, by Cartier, Paris—approximate weight of emerald 37.41 carats, and an approximate total weight of diamonds 12.04 carats.”
“I was 21 and fresh out of gemmological school,” recalls François Curiel, chairman of Christie’s EMEA, who attended the dealer preview and the landmark evening auction with his father. “It was an incredibly chic event: elegantly dressed ladies and gentlemen in dark suits filled the room.” Many had journeyed to Geneva hoping to acquire treasures from the collection of Nina Dyer, a figure who stirred both fascination and whispers.
The 1969 sale was a resounding success, achieving a total of CHF 12.7 million. The emerald and diamond clip brooch became one of the top lots, selling to Van Cleef & Arpels for CHF 580,000. The brooch’s allure was undeniable, and its journey was beginning.
Born in Ceylon (now Sri Lanka) in 1930, Nina Dyer moved to England to pursue a career in fashion. By 20, she was gracing Parisian runways for the likes of Balmain. In June 1954, she married Baron Hans Heinrich Thyssen-Bornemisza, heir to a vast industrial fortune. Their union was short-lived, and after their 1956 divorce, Dyer captivated Prince Aly Khan, son of Sultan Mahomed Shah Aga Khan III. They married in 1957, and she became Princess Nina Aga Khan. The prince lavished her with extravagant gifts—luxury sports cars and stunning jewels from Cartier, Mappin & Webb, and Harry Winston.
“Nina Dyer’s jewellery collection epitomized elegance, refinement, and impeccable taste,” Curiel notes, emphasizing the exceptional quality of each piece. “The atmosphere in the saleroom was electric. Bids flew from every corner, and some lots took over five minutes to hammer down due to the fierce competition.”
The emerald and diamond brooch, commissioned by Prince Aly Khan from Cartier Paris in 1960, stood out among the offerings.
It was a masterpiece of design and gemology, featuring a 37-carat square emerald encircled by 20 marquise-shaped diamonds totalling approximately 12.04 carats. After its sale to Van Cleef & Arpels, Harry Winston later acquired the brooch and transformed it into a pendant.
“Its passage through the hands of three of the world’s greatest jewellers attests to its exceptional quality,” Fawcett remarks. “The combination of its substantial size, even green colour, and high transparency makes it extraordinarily rare. The Cartier setting is just the icing on the cake.”
Fast forward to November 12, 2024: the Aga Khan Emerald is set to make a grand return at Christie’s Magnificent Jewels sale in Geneva. “It’s a thrilling moment,” says Curiel, who began his illustrious career at Christie’s shortly after that first monumental sale. “To handle the famed 37-carat Aga Khan Emerald once again is truly special.”
Unearthed in Muzo—a legendary Colombian emerald mine about 60 miles north of present-day Bogotá—the gem boasts an illustrious provenance. Muzo has been a source of exceptional emeralds for centuries, even before the Spanish conquest, producing famed stones like the Devonshire, an uncut emerald weighing a staggering 1,383.95 carats acquired by the 6th Duke of Devonshire around 1831.
“Emeralds have captivated civilizations since antiquity,” Fawcett explains, noting that even Cleopatra had her own mines in Egypt. “But since the colonial era, Muzo emeralds have been revered as the most beautiful and valuable, celebrated for their intense green colour and remarkable transparency.”
The Aga Khan Emerald is particularly notable for its unusual shape. “It’s extremely thin and flat, giving the impression of a 50-carat stone,” Fawcett describes. “Typically, flat stones can lose colour at the centre, but this emerald maintains a completely even green hue throughout.” Moreover, while emeralds often contain inclusions and surface fissures, this gem is exceptionally clean and untreated. “It’s common to use oils or polymers to enhance an emerald’s clarity and stability,” he says. “Finding a stone of this size without any clarity enhancements is extraordinary.”
As the auction approaches, Fawcett anticipates significant interest from global collectors. “Emeralds are incredibly sought after right now, and this one ticks all the boxes,” he asserts. Its fresh re-entry into the market only heightens its allure. “An emerald of this calibre might appear once every five or six years. It’s a rare opportunity for connoisseurs to acquire one of the Earth’s most exquisite treasures.”
The stage is set for another historic moment at Christie’s, echoing the glamour and excitement of that evening in 1969. For those immersed in the world of magnificent jewels, the return of the Aga Khan Emerald is not just an auction—it’s a landmark event steeped in history, allure, and the enduring sparkle of one of the world’s finest gems.