Bracelet with sapphire Romanov sold for almost $ 5 million

The bracelet with a huge sapphire, which used to be part of the imperial jewels of the Russian crown, was sold for almost $ 5 million, exceeding the pre-auction estimate.

Romanov's cushion-shaped sapphire weighing 197.80 carats is framed in a geometric diamond bracelet from jeweler Cartier, according to an announcement from auction house Sotheby's, which sold the piece Wednesday in Geneva, Switzerland.

The bracelet's sale price was CHF 4.1 million ($4.9 million), meaning it exceeded its pre-auction estimate from CHF 850,000 to CHF 1.7 million (from CHF 1.02 million to $2.04 million).

“This exceptional historic sapphire belonged to the legendary collection of the Romanov family,” the auction announcement said. The legendary collection of Russian tsars may have been the richest and most valuable royal collection ever assembled.

The reign of the Romanov dynasty ended in 1917, when Tsar Nicholas II abdicated at the beginning of the Russian Revolution, and the following year the imperial family was executed by the Bolsheviks.

It is not known exactly when the Romanovs purchased the sapphire, but according to the auction list, it can be seen next to a pair of sapphires on the front panel of the skirt, which the Dowager Empress Maria Fedorovna, the mother of Nicholas II, wore to the ball in 1883.

After the Russian Revolution, the Romanov collection was sold out by the Soviet authorities in the 1920s, after which this sapphire was purchased in 1927 by socialite Hanna Walska, Sotheby's reports.

At the time, the sapphire was attached to the necklace, and by the time it was sold as part of Walski's property in 1971, according to the auction house, the gem had been moved to another, shorter necklace.

In 2015, Cartier put a sapphire in the bracelet, which can be seen today.

“The interchangeable rock crystal bracelet in the centre highlights both the historic Romanov sapphire and Cartier’s unique Art Deco heritage,” Sotheby’s said in a statement.

At previous auctions, Romanov jewels were also sold much more expensive than expected.

In 2021, a brooch with sapphires and diamonds and matching earrings were sold at Sotheby's auction for 806,500 Swiss francs (about $883,600), almost double the pre-sale estimate.