Jul 13, 2020

Sotheby's Hong Kong Magnificent Jewels Sale Totals $56.4 Million

Sotheby’s flagship Hong Kong Magnificent Jewels auction on 10th July fetched a total of $56.4 million with two fancy heart-shaped diamonds taking centre stage.

A 5.04-carat fancy vivid blue diamond ring, Type IIb, from a private collection, sold for $10.55 million ($2.09 million per carat), nearly 9% above its higher pre-sale estimate of $9.7 million. An internally flawless 4.49-carat fancy vivid pink diamond fetched $8.12 million ($1.81 million per carat), below its higher pre-sale estimate of $8.8 million.

Wenhao Yu, Deputy Chairman, Jewellery, Sotheby's Asia, said, “Today’s results are a clear indication that the appetite for top quality jewels in Asia remains undiminished. The hottest colour diamonds in the most romantic of cuts and settings proved irresistible, with the pair of fancy vivid pink and blue rings taking top billing as the stars of the show, while ‘imperial jadeite’ attracted strong interest from international collectors.”

Originally scheduled for May, the Hong Kong sale featured exceptional property with noble provenance, including a diamond bracelet gifted to Princess Margaret, the Queen’s sister, on her 21st Birthday. Made by Garrard & Co., the antique bracelet soared over its higher estimate of $64,500 to sell for $209,674.

Yu noted, “For a couple of years now, young and established collectors in the region have shown a growing interest in jewels with a royal connection and steeped in European history, and this was confirmed today, as they faced fierce competition from bidders around the world for Princess Margaret’s 21st birthday bracelet. This spring we have seen a resilience in the jewellery market, as collectors demonstrate their eagerness to transact with us in both new and traditional ways,”

Two photos / Single Caption: Leading the Sotheby’s Hong Kong sale, (left) a 5.04-carat fancy vivid blue diamond ring, Type IIb, fetched $10.55 million; and (right) the 4.49-carat fancy vivid pink diamond sold for $8.12 million.