Kashmir sapphires are so rare that jewellery specialists can go their entire careers without consigning one. Bonhams Australia’s jewellery specialist Fiona Frith feels lucky indeed to have handled three of the vivid blue gemstones in the past two years, including two fine specimens that were recently shipped to New York for testing and certification in preparation for sale on the global market.

Some investors consider precious stones a safe haven in times of financial uncertainty, and while it’s too early to judge whether the market for jewels and gemstones is rising amid the coronavirus pandemic, buyers’ appetite remains strong, says Jean Ghika, the London-based global director of jewellery for the British-owned Bonhams.