An exceptional 35-carat sapphire from Kashmir has fetched $7.3 million at an auction on May 13. According to Christie’s auction house, it is a new world auction record for a Kashmir sapphire, The 35-carat cushion-shaped Kashmir sapphire was sold to an anonymous Asian private bidder for a record $7,357,999. Establishing a world auction record for a Kashmir sapphire at more than $200,000 per carat, Christie’s said. It had been estimated at 3 million to 4 million dollars. The cushion-shaped sapphire ring that sold Wednesday is mounted in gold and set with triangular-cut diamond shoulders and baguette-cut diamonds.