More Than Half of Lots Didn’t Sell at Guernsey’s Gem Auction

New York--A number of Colombian emeralds from the personal collection of a renowned gemstone expert failed to sell at auction Tuesday.

The Marcial de Gomar Collection went up at New York auction house Guernsey’s, comprised of a number of loose emeralds--both cut and rough--plus finished emerald jewelry.

About half of the collection was offered without a reserve price.

The emeralds in this collection come from the personal collection of Manuel Marcial de Gomar, the founder of Emeralds International LLC, who spent more than five decades in the gemstone business. This includes years working in the Muzo mines in Colombia, known to supply some of the best emeralds in the world.

The highlight of the collection, the 887-carat La Gloria--the largest Muzo rough emerald in North America, according to the auction house--didn’t sell, nor did the Marcial de Gomar star emerald, weighing 25.86 carats, according to the auction website. 

Only two loose stones sold--the 12.07-carat “Heart of Muzo” for $10,000 and the 4.39-carat round “Reina del Mar” for $10,000--and two of the finished pieces--the “Conquistador” tiara made with 14.27 total carats of Muzo emeralds and diamonds, which sold for $50,000, and the “Emerald Dragon” belt buckle, featuring a 2.69-carat Colombian oval cabochon emerald and diamond accent, that went for $5,000.

Though National Jeweler reached out to the auction house for comment about the lots not selling as well as whether they would try to sell them again, Guernsey’s didn’t respond by press time.

The auction also featured historic coins, including a number found in the wreck of the Spanish ship Nuestra Señora de Atocha off the coast of Florida in 1985. Interestingly, all of those lots sold on Tuesday, though many for well below their pre-sale estimates.

In June, Guernsey’s will hold another gemstone auction--the company will put on the block the Mountain Star Ruby Collection, comprised of four star rubies weighing 342 carats total, which will be sold together as one lot.

Jarvis Wayne Messer, a self-described rock hound, found the stones in western North Carolina in 1990.

Guernsey’s President Arlan Ettinger told National Jeweler in January that the Mountain Star Ruby Collection will be offered without a minimum reserve.