NEW YORK, NY.- Bonhams Fine Jewelry sale on April 15 made $3.3 million with colored gemstone solitaire rings leading the way. This supports the company’s recent claim that 2015 will be the year of the colored gemstone.

While diamonds will never lose their classic appeal, colored gems are outstripping them in value and proving a canny investment having surpassed other stones in terms of price gains – some having risen by a staggering 2,200 per cent over the past decade.

The auction was led by a fancy yellow cut-cornered rectangular modified diamond ring that sold for $305,000, weighing 16.64 carats. The brilliant yellow diamond is set in a polished 18k gold mount and enhanced by circular yellow-cut diamonds.

Enthusiastic bidding rapidly drove up the prices of two ruby and diamond rings: a square cushion mixed-cut ruby weighing 3.18 carats flanked by brilliant-cut diamonds mounted in 18k gold and platinum that realized $185,000, more than 7 times the high estimate; and an oval mixed-cut ruby weighing 3.02 carats set in a pavé set diamond bombé mount and mounted in 18 k gold and platinum, which achieved $161,000, almost 9 times the high estimate.

Closely following this was an emerald and diamond ring that fetched $173,000. The cut cornered rectangular step-cut emerald is amounted in platinum and weighs 14.31 carats, which is flanked by baguette-cut diamond shoulders.

Though it is more subdued in color, a brilliant diamond solitaire ring fetched a price of $108,750, soaring past the high estimate of $65,000. The round cornered rectangular brilliant-cut diamond weighs 4.45 carats and is flanked by tapered baguette-cut diamonds and is mounted in platinum.

On the market’s buoyancy with regard to colored gemstones, Susan Abeles, Director of Fine Jewelry at Bonhams US commented, “Colored stones, especially rubies, emeralds and sapphires are bringing strong prices that rival prices for diamonds, reflecting a swing in the market. The demand for fine quality colored stones is extremely healthy and growing, as is the market for signature jewelry.”

The next Fine Jewelry sale at Bonhams will be held on April 21 in the UK, in Oxford.