TEHACHAPI, CALIF.- A 15.35-carat alexandrite with chameleon-like qualities is the glittering headliner in a 1,200-lot selection of fine jewelry, cars and art to be offered at Government Auction’s April 29 sale.

The alexandrite’s size, alone, makes it a rare specimen, but it rises to superstar levels when it reveals its ability to change colors under different types of light. In natural daylight, the brilliant-cut gemstone appears green, but when viewed under normal indoor lighting, its hue changes to a golden yellow. This unusual quality fascinated 19th century Russian jewelers, who favored alexandrites (named after Tsar Alexander II) and reserved them for their most revered clients. According to the International Colored Gemstone Association, Tiffany’s master gemologist George Frederick Kunz (American, 1856-1932) also loved alexandrites and included them in a series of exquisite rings and platinum suites designed during the late Victorian and early Edwardian eras.

“An alexandrite stone of this quality and size is highly sought after by gemstone experts, connoisseurs and investors alike,” said Government Auction’s chief auctioneer Paul Sabesky, referring to the top lot of his upcoming sale. With certification from the Gemological Institute of America (GIA), it has an estimated value of $83,580-$167,160.

Another exceptional fine jewelry item to be auctioned is a 14K white gold necklace mounted with a genuine 4-carat tanzanite. The central stone is surrounded by 82 round faceted diamonds and is enhanced by an additional 300 diamonds encrusted on the chain. Although valued at $23,000-$46,000, the necklace is one of many lots in Government Auction’s sale that will have an opening bid of only $2.

Emeralds have never lost their allure. They’re especially coveted when presented in a bracelet as stylish as the 14K white gold example entered in the April 29 auction. The bracelet weighs in with 19 carats of emeralds and 284 genuine round full diamonds totaling 1 carat. The presale estimate is $16,300-$32,600.

Long preferred by Asian royalty, rubies adorn the exquisite 14K gold necklace entered in the sale as Lot 907. Richly set with 74.44 carats of rubies and 5.89 carats of diamonds, the necklace is expected to make $21,000-$41,000 at auction.

Additional fine jewelry highlights include a 14K gold necklace with 74.44 carats of rubies and 5.89 carats of diamonds, valued at $21,000-$41,000; and a pair of white and yellow gold earrings with 1.24 carats of diamonds, valued at $5,300-$10,500.

A major draw in this auction is the cache of gold coins to be offered. Already creating a stir, an 1872-CC $20 Liberty Head gold coin – also known as the 1872-CC Double Eagle – was minted in Carson City, Nevada. Numismatists agree, the Carson City mint showed greater skill in striking this particular coin than in its two earlier Double Eagle issues. The mintage for the 1872 coin was only 26,900 strikes, and each had a metal content of 90% gold, 10% copper. Few surviving examples are “high grade” and in uncompromised condition, like the one in Government Auction’s April 29 sale. It has a broad estimate range of $15,750-$31,500.

Government Auction’s Sunday, April 29, 2012 auction event will commence at 7:30 a.m. Pacific Time/10:30 a.m. Eastern Time. Absentee, phone and Internet live bidding through LiveAuctioneers.com will be available. For additional information on any lot in the sale, call Debbie on 661-823-1543 or e-mail info@governmentauction.com.

View the fully illustrated catalog and sign up to bid absentee or live via the Internet at www.LiveAuctioneers.com.