Russian royal gems on Sotheby’s auction block

These sapphire jewels once belonged to a Russian royal

LOCATION: Geneva, Switzerland

They're now being auctioned off by Sotheby's

and are expected to fetch up to $530,000

SOUNDBITE) (English) HEAD OF SALE AND JEWELLERY EXPERT AT SOTHEBY'S GENEVA, OLIVIER WAGNER, SAYING:

"They belonged to the Grand Duchess Maria Pavlovna of Russia who was like the queen of social life in St. Petersburg. She was the wife of the Grand Duke Vladimir, so the son of the tsar (Alexander II), and she had a fantastic collection of jewels, she loved jewelry. And at the revolution, she will be one of the last women to flee Russian in 1919, but before that, in 1917, she gave them to a gentleman she trusted, a British diplomat Mr. (Albert Henry) Stopford."

This orange-pink diamond weighs 25.62 carats

It's estimated to fetch up to $5.8 million

And a pair of flawless white diamond earrings could fetch up to $5.49 million

(SOUNDBITE) (English) HEAD OF SALE AND JEWELLERY EXPERT AT SOTHEBY'S GENEVA, OLIVIER WAGNER, SAYING:"So, the market is currently very dynamic. People are very keen to buy jewelry again and to buy something tangible, that they can enjoy. We had a very good sale in May this year and we have seen some very positive signals from all around the world in the market."

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