@xavier_exelle: Kashmir sapphires still command the highest prices, and recent Christie’s auctions show the market isn’t cooling. It’s accelerating. Why? The mines are closed. There is no production. No new supply will ever enter the market. What exists today is all that will ever exist. But it’s not just scarcity. Kashmir sapphires have a color no other origin can replicate. A deep, velvety blue softened by fine silk inclusions that diffuse light. Not sharp. Not electric. Calm, saturated, unmistakable. No Sri Lankan, Burmese, or Madagascar sapphire looks the same in top examples. Experienced buyers see it instantly. That combination is unbeatable: frozen supply and irreplaceable beauty. Each year, fewer stones are available. Each year, more capital chases them. Auction results aren’t hype. They’re price discovery. Owning a Kashmir sapphire isn’t owning a gem. It’s owning a finite piece of geological history. And the market prices it accordingly.

Xavier Exelle

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Monday 23 February 2026 19:55:28 GMT