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Last week’s Magnificent Jewels sale at Christie’s New York dazzled collectors and historians alike, thanks in large part to the headline-grabbing success of the “Mughal Carved Emerald Necklace.” Estimated at $2 million to $3 million, the necklace sold for a staggering $6.2 million after a fierce bidding war, more than doubling its high estimate and cementing its place among the most important jewelry lots sold this year.
Dating back nearly 275 years, the necklace features five Colombian emeralds weighing a total of 1,178.50 carats. The centerpiece is a monumental 470-carat hexagonal emerald, intricately carved and bearing an inscription that reads “Ahmad Shah Durr-i Durran”—translated as “Pearl of Pearls.” Ahmad Shah Durrani, founder of the Durrani Empire, is a pivotal figure in South Asian history, and his name links this jewel to an elite lineage of imperial treasures.
Rahul Kadakia, Christie’s International Head of Jewelry, emphasized the emerald’s historical magnitude: “This extraordinary provenance places the emerald alongside legendary treasures such as the Timur Ruby and the Koh-i-Noor diamond.”
Indeed, all three bear similar royal inscriptions, speaking to their shared trajectory through the Mughal and Persian courts, where power and gem collecting were tightly interwoven.
The necklace’s provenance adds to its mystique. It was part of the Mughal imperial treasury looted in 1739 by Nader Shah of Persia, whose conquest of Delhi resulted in one of the most dramatic transfers of wealth in history. Nader Shah’s haul famously included the Koh-i-Noor diamond, and now, it’s confirmed, this emerald necklace as well.
The piece was offered as part of the “Magnificent Mughal Jewels: Property from a Royal Collection” grouping, which realized a total of $14.8 million. Two other standout pieces also surpassed expectations:
The Mughal Antique Multi-Gem and Emerald Necklace, featuring nearly 800 carats of emeralds and intricate goldwork, fetched $5.56 million. This necklace carried a pre-sale high estimate of $3 million.
The Mughal Three-Strand Spinel and Natural Pearl Necklace, showcasing over 2,000 carats of spinels and historically inscribed gems, brought in $3.01 million, surpassing its pre-sale high estimate by just over $1 million.
The exceptional auction results reflect a growing global appetite for museum-quality jewels with royal provenance — especially those tied to South Asia’s imperial past. As Christie’s noted, these pieces are not only wearable masterpieces, but tangible links to empires long vanished, yet still glittering with relevance today.
Credits: Images courtesy of Christie’s, photography by Steven DeVilbiss.
