New Price Records at Christie’s in Hong Kong Auction

This Burmese ruby and diamond Flora necklace by Bulgari earned $3.79 million. CHRISTIE’S IMAGES LTD. 2011

Christie’s “Hong Kong Magnificent Jewels” auction reached a record-breaking $111 million (HK$859 million) in total sales on November 26, making it the highest total ever for a jewellery auction throughout Asia, base on Christie’s.

Results were described as robust with 86% purchased by lot – 266 of 309 lots offered. The top lot of the auction was a circular-cut D Flawless diamond rivière comprising 52 stones that weigh an overall total of 105 carats. It was sold to an exclusive Asian collector for $8. 14 million (HK$62. 8 million) along with buyer’s premium, within its $7. 26 – 9. 33 million (HK$56 – 72) estimation.

It was followed by a Burmese ruby and diamond necklace by Hong Kong-based jeweller Etcetera, which weighs an overall total of 87. 8 cts. At $6. 4 million (HK$49. 4 million), including buyer’s premium. The jewellery was also sold to private Asian collector, made a new world record price for a ruby necklace last November 26.

Another new record was set by lot 2063, an oval-shaped fancy intense orange pink VVS1 clarity diamond of 12. 9 cts. The coloured diamond is set within a brilliant-cut diamond border with a pear-shaped diamond surround, and is mounted in a platinum and 18k rose gold ring. The item release for $4. 95 million (HK$38. 2 million) with buyer’s premium, within its $4.28 – 6.48 million (HK$33 – 50 million) appraisal. The piece sets the record price for an orangey pink diamond, as well as the per-carat price for an orangey pink diamond.

The showstopper from this event was Lot 2048. A stunning rare purple star sapphire, tsavorite garnet and diamond ring by Wallace Chan. Its estimate of between £54. 8 – 71k ended up being totally smashed when the hammer dropped at £85, 072. The star, or asterism, is due to the needle-like crystals of rutile that have formed parallel to the crystal faces so that when cut en cabochon will form a 4 or 6 ray star. These are superb stones and to get a purple one is quite unusual. Set with green garnets (tsavorites) and also diamonds, with the shank surrounded with scroll titanium inlay is a very attention grabbing jewel, created by one of Asia’s most talented jewellery designers. This is a present any woman would like to find in her Christmas stocking.