NEW YORK, NY.- A rare sapphire and diamond ring achieved U.S. $1.35 million, including premium, at Bonhams New York’s Fine Jewelry auction on Dec. 8, setting a world-record for a Kashmir sapphire under 10 carats ($172,000 paid per carat).

A stunning turn-of-the-century Tiffany & Co. ring centered by an oval-cut sapphire, the stone is of rare quality—deep and rich blue—and flanked by beautiful European-cut diamonds, weighing 7.84 carats.

“On the heels of three world-records at our recent Bonhams London jewelry sale, Bonhams New York sets another world-record in price per carat for a Kashmir sapphire under 10 carat,” said Senior Director of International Jewelry Daniel Struyf. “It’s been a successful week for Bonhams’ international jewelry department and a sign that colored gemstones are on the rise.”

Other top lots include:

• AN IMPORTANT SAPPHIRE AND DIAMOND RING, cushion-shaped sapphire with a certificate stating Classic Ceylon origin, sold for U.S. $269,000, including premium

• AN IMPORTANT SAPPHIRE AND DIAMOND RING, oval-cut sapphire, 5.23 carats of Kashmir origin; sold for U.S. $269,000, including premium

• A SAPPHIRE AND DIAMOND RING centered by a 24.16 carat sapphire of Ceylon origin, sold for U.S. $125,000, including premium

• A FANCY COLORED DIAMOND AND DIAMOND RING featuring a 1.00 carat fancy cut gray-blue diamond, within a diamond strap band, sold for U.S. $173,000, including premium