Prices soared at Christie’s Hong Kong as its Magnificent Jewels sale established a new record for the most valuable jewelry auction ever held in Asia. A total of 25 lots sold for more than $1 million, helping to bring the overall sale total to $117.9 million. Of the 314 lots offered, 281 sold and 88.4% sold by value. What’s more, three additional records were set in the sale, including a record price for a ruby necklace, price for a single jadeite cabochon, and price per carat for a sapphire.
The star of the sale was a Burmese ruby and diamond necklace, by Etcetera. Purchased by an Asian private customer, the spectacular jewel featured 120 carats of pigeon’s blood Burmese rubies and brought in $13 million, which set a new world auction record for a ruby necklace. The final hammer price was $1.5 million above the high estimate.
The second highest earning lot was a 9.07-carat Fancy Intense pink diamond, graded Internally Flawless Type IIa, mounted into a ring by Harry Winston. A beauty that made several bidders blush, the rectangular-shaped stone fetched $12.6 million, or $1,394,021 per carat.
Setting a new world auction record price for a single jadeite cabochon, a highly important jadeite, ruby and diamond pendant necklace realized a total of $5.7 million.
Kashmir sapphires continue to highly sought after and this sale offered a 10.33-carat specimen that set a new world auction record price per carat for a sapphire. The circular-cut Kashmir stone sold for $2.5 million, or $240,381 per carat.
Additional sale highlights include:
- An oval-shaped 5.11-carat Burmese ruby ring, by Etcetera – $3,862,080 ($1.5 million over the high estimate)
- A 15.15-carat D/IF Type IIa diamond ring, by Graff – $3,571,776
- A 5.02-carat Fancy Intense green diamond ring, by Moussaieff – $2,700,864
- A 3.00-carat Fancy Intense blue IF diamond ring, by Moussaieff – $2,555,712
- A 38.51-carat Colombian emerald cuff bangle, by Etcetera – $2,337,984