The Value of Untreated Colombian Emeralds

There’s something undeniably regal about an emerald. That deep green hue, the storied history, and the almost velvety glow all contribute to its enduring appeal. But not all emeralds are created equal—especially when it comes to clarity enhancement.

Most emeralds on the market today are treated with oils or resins to reduce visible fissures. It’s an industry-standard practice, but when an emerald surfaces without any clarity modification, you can bet it’ll turn heads—and command serious prices at auction.

Here are four standout emerald rings that rocked the auction world in recent years:

1. 17.05 ct Colombian Emerald

No indications of clarity modification
Sold for: ~$2.5 million
Where: Christie’s Hong Kong, November 2023

This exceptional emerald wasn’t just impressive because of its weight—it was completely untreated, a rare feat for a 17+ carat Colombian gem. Its rich color, natural transparency, and origin combined to push the final price well into the millions. A collector’s dream.

2. Chaumet Emerald & Diamond Ring

17.80 ct Colombian Emerald | No clarity modification
Sold for: ~$1.87 million
Where: Christie’s Geneva, May 2022

French jewelry house Chaumet brought the design, and the emerald brought the drama. Clocking in just under 18 carats with flawless provenance and no treatments, this ring is a testament to how prestige + purity = price.

3. 80.45 ct Colombian Emerald

Minor oil in fissures
Sold for: ~$3.51 million
Where: Sotheby’s Geneva, May 2021

Okay, so this emerald was treated—but just a bit. With only minor oil, the gem retained a lot of its natural charm. And let’s be honest: at over 80 carats, this emerald was bound to make headlines. Proof that size still matters—even when perfection isn’t absolute.

4. 10.00 ct Colombian Emerald Ring

No clarity modification
Sold for: $452,000
Where: Bonhams Hong Kong, November 2020

Small(er) but mighty, this 10-carat untreated Colombian emerald still fetched nearly half a million dollars. The takeaway? Even at modest sizes, natural clarity holds major value—especially when paired with quality cutting and origin.

Why the Fuss Over "No Oil"?

Oiling emeralds is a common way to hide surface-reaching fissures and improve appearance—but it also affects value. “No indications of clarity modification” means the stone is as close to nature’s intention as you can get. Combine that with Colombian origin (arguably the most coveted source), and you’ve got the ultimate gemstone trifecta: rarity, beauty, and authenticity.

If you’re a collector, enthusiast, or just a gemstone nerd, these auction results are more than just numbers—they’re a peek into what the market truly values. Untreated Colombian emeralds are the holy grail for many, and as these sales show, people are more than willing to pay a premium for purity.

Would you want a post on how to identify clarity treatments in emeralds? Or a deeper dive into the difference between Colombian, Zambian, and Brazilian emeralds? Just say the word!