The step-cut sapphire weighing 11.75 carats, surrounded with brilliant-cut diamonds, size 50, French assay and partial maker's marks. 

Accompanied by SSEF report no. 81029, stating that the step-cut sapphire weighing 11.75 carats and measuring 13.56 x 11.31 x 7.43 mm, is of Ceylon origin, with no indications of heating. Partial French maker's mark. Stamped with French assay marks for 18k gold and platinum. Sapphire blue of medium strong saturation, with typical inclusions, a few surface reaching, good transparency; for further details on the stone, please refer to the gemmological report. Diamonds estimated to weigh a total of approximately 2.50 - 3.50 carats, on average G-H colour, VS-SI clarity, as gauged and graded in the mounting. Signs of normal wear to the metal. In very good condition. Gross weight approximately 10 grams.
"In response to your inquiry, we are pleased to provide you with a general report of the condition of the property described above. Please note that colour, clarity and weight of gemstones are statements of opinion only and not statements of fact by Sotheby's. We do not guarantee, and are not responsible for any certificate from a gemological laboratory that may accompany the property. We do not guarantee that watches are in working order. Prospective buyers should inspect each lot to satisfy themselves as to condition and must understand that any statement made by Sotheby's is merely a subjective, qualified opinion. Prospective buyers should also refer to refer to any Important Notices regarding this sale, which are printed in the Sale Catalogue, in particular to the Notice regarding the treatment and condition of gemstones and to the Notice regarding import of Burmese jadeite and rubies into the US.
NOTWITHSTANDING THIS REPORT OR ANY DISCUSSIONS CONCERNING A LOT, ALL LOTS ARE OFFERED AND SOLD "AS IS" IN ACCORDANCE WITH THE CONDITIONS OF BUSINESS PRINTED IN THE SALE CATALOGUE."