In a rare achievement, Bonhams London sold the precious Hope Spinel, the 50.13 carat octagonal-cut stone, for a whopping sum of $1.5 million at an auction on 24th September, 2015. It’s a record breaking event as far as price for per-carat for a spinel is concerned.

 In fact, the price-per-carat was $ 30, 000, which is double the previous price-per-carat record of a spinel-$16,000, set in year 2013.

It may be recalled that the Hope Spinel was once part of Henry Philip Hope’s renowned gem collection. The precious stone was earlier sold in an auction in year 1917 and is set in a 19th century silver and gold brooch and flanked by diamonds.

To quote Jean Ghika, the director of jewellery for the UK and Europe for Bonhams, “We are delighted with the price it has made. It was an exceptional gemstone with a priceless provenance. These pieces just don’t come to the open market often, and when they do, they are hotly contested. Bonhams is honored to have been chosen to handle the sale of such a unique and magnificent gem.”