This later estimate was acknowledged by insiders as a "low-ball estimate," however. The sapphire's value was later upped by Rahul Kadakia, senior vice president and head of jewelry at Christie's America, to approximately $1 million.
This revised appraisal was validated by insiders as being conservative, however. The sapphire's value was subsequently reassessed by Rahul Kadakia, senior vice president and head of jewelry at Christie's America, to approximately $1 million.