Christie’s Hong Kong sale of Magnificent Jewels

(IDEX Online News) – Christie’s Hong Kong sale of Magnificent Jewels was dominated by high priced rubies and other semi-precious gems as well as a large number of Asian private collectors that purchased all top ten grossing lots.

The top item at the Tuesday auction was a 62.46 carats Burmese ruby and diamond necklace that sold for $5.2 million, or 83,800 per carat (p/c).

An 8.59 carats fancy pink diamond and sapphire ring by famed designer JAR (pictured on the left), sold for $3.6 million, fetching a handsome $415,800 p/c. A pair of brilliant-cut D Flawless diamonds weighing 8.88 carats each sold for $3.7 million, or $209,300 p/c.

Private collectors from all over the Asia-Pacific region represented 90 percent of the buyers, said Vickie Sek, Director and Head of the Jewellery & Jadeite Department, Christie’s Asia.

"The strength of the region was clearly apparent with competitive bidding throughout the day, confirming the role of Hong Kong as a major auction centre for every category."

The Hong Kong sale totaled $75.3 million and sold 80 percent by lot and 82 percent by value.