$25.6m Jadeite Necklace Just Misses World Record
May 28, 26
(IDEX Online) - A green jadeite necklace sold for HKD 200.2 million ($25.6 million) at Christie's Hong Kong, narrowly missing a world record.
The Ethereal Jadeite Necklace, featuring 61 jadeite cabochon beads, hit its high estimate (HKD 110 million to 200 million).
But it didn't quite eclipse the Hutton-Mdivani Necklace, which sold for HKD 215 million ($27.44 million) at Sotheby's Hong Kong in April 2014.
Cartier paid double the pre-sale estimate for the 27-bead necklace once owned by Barbara Hutton, heiress to the Woolworth fortune.
The Ethereal necklace is described as having 61 perfectly-matched beads (approximately 13.7 to 8.8 mm in diameter) - an exceptionally rare achievement due to the inherent individuality of jadeite beads.
The Magnificent Jewels auction on 26 May was 90% sold by lot, with 72% of lots selling over high estimates, said Christie's. It raised a total of HKD 581.5 million ($74.2 million), up 55% year-on-year.
Pic of the Ethereal Jadeite Necklace, courtesy Christie's.