Christie’s Hong Kong Magnificent Jewels Autumn Sale held at the Grand Hall of the Hong Kong Convention & Exhibition Center, on November 29, 2016, was a remarkable success realizing total sales of US$79 million, selling 80% by lots and 84% by value, with 35% of the lots exceeding the upper pre-sale estimate. Significantly, the sale attracted 149 buyers from 23 countries, across four continents, making this annual sale a truly international event.
Commenting on the successful outcome of the auction, Deputy Chairman Asia & Director of Christie’s Asia Jewelry department, Vickie Sek said, “Once again at Christie’s Hong Kong, Asian collectors and members of the trade showed great confidence for rare and important gemstones, led by US$2.7m per carat achieved for the Moussaieff blue diamond ring. The sale room was packed all day long with spirited bidding for colorless diamonds, colored gemstones and important jadeite jewelry.”
Top lot of the sale as anticipated was Lot 2079, A SUPERB COLORED DIAMOND AND DIAMOND RING, BY MOUSSAIEFF, with a pre-sale estimate of HKD 75-95 million (USD 9,716,280 – USD 12,307,288) and sold within the estimate, for HKD91,260,000 (USD 11,818,873). The marquise-cut, internally flawless, fancy vivid blue diamond set in the ring weighed 4.29 carats. This works out to a price-per-carat value of US$2,754,982.
The second highest selling lot of the sale as anticipated was Lot 2087 – A SUPERB RUBY AND DIAMOND RING, BY FAIDEE, with a pre-sale estimate of HKD 68.8 – 98.0 million (USD 8,913,068 – USD 12,695,939), and sold within the estimate for HKD 78,940,000 (USD 10,223,338), working out to a price-per-carat value of US$1,017,247, the third highest price-per-carat value achieved by a ruby.
After a colored diamond and ruby the next highest selling lot of the sale was a jadeite lot, Lot 2011 titled “AN IMPORTANT JADEITE AND DIAMOND NECKLACE,” with a pre-sale estimate of HKD 22,000,000 – HKD 30,000,000 (USD 2,848,954 – USD 3,884,937). The lot sold within the estimate for HKD 26,300,000 (USD 3,406,053).
The 4th highest selling lot is also a jadeite lot, Lot 2060, titled “A SUITE OF JADEITE AND DIAMOND JEWELLERY,” with a pre-sale estimate of HKD 20,000,000 – HKD 30,000,000 (USD 2,589,958 – USD 3,884,937), and sold within the estimate for HKD 24,060,000 (USD 3,115,955).
After a rare colored diamond lot and three colored gemstone lots, the next highest selling lot of the sale is a colorless diamond lot. The lot bearing No. 2075 and titled, AN UNMOUNTED DIAMOND, is a 19.14-carat, Flawless, D-Color, round brilliant-cut diamond, with excellent cut, polish and symmetry. The lot sold within the pre-sale estimate of HKD 19 – 25 million (USD 2,460,460 – USD 3,237,448) for HKD 24,060,000 (USD 3,115,955), working out to a price-per-carat value of US$162,798.
The next highest selling lot is also a colorless diamond lot, bearing No.2078 and titled “AN IMPRESSIVE PAIR OF DIAMOND EAR PENDANTS, BY BOEHMER ET BASSENGE, the recently launched “Maison de Haute Joaillerie” (House of Fine Jewelry) in Paris. The lot sold within the estimated range of HKD 16,000,000 – HKD 25,000,000 (USD 2,071,966 – USD 3,237,448) for HKD 22,260,000 (USD 2,882,841).
The 7th highest selling lot of the sale is a blue sapphire lot, bearing Lot No.2083 and titled, “AN IMPORTANT SAPPHIRE AND DIAMOND RING, BY HARRY WINSTON. The size 4 platinum ring is set with a cushion-shaped Kashmir blue sapphire weighing 16.36 carats flanked by half-moon shaped diamonds on the shoulders of the ring and baguette-cut and circular-cut diamonds on the gallery. The lot sold for an enhanced price of HKD 18,540,000 (USD 2,401,073) which was 2.3 times the lower estimate of US$ 1,036,072 and 1.5 times the upper estimate of US$ 1,554,108. The price-per-carat value of the Kashmir sapphire works out to US$ 146,765 which is within the range of highest quality Kashmir blue sapphires. Hence, the first lot in the sale where we see the hammer price exceeding the upper estimate is a Kashmir blue sapphire lot.
After the Moussaieff fancy vivid blue diamond the next highest selling colored diamond lot of the sale was Lot 2031, incorporating a fancy vivid yellow diamond, titled, “AN IMPRESSIVE COLORED DIAMOND RING,” which also sold for an enhanced price, above the upper estimate for HKD 15,660,000 (USD 2,028,091). The price achieved was 1.8 times the lower estimate of US$1,139,582 and 1.3 times the upper estimate of US$ 1,553,975. The size 5 1/4 platinum ring, was set with a rectangular-cut, fancy vivid yellow diamond, weighing approximately 28.78 carats, with a foliate gallery and shoulders.
The 9th highest selling lot of the sale was Lot No.2085 another colored gemstone lot, A SUPERB RUBY AND DIAMOND RING, which sold within the estimate of HKD12,000,000 – HKD18,000,000(USD1,554,565 – USD2,331,847) for HKD 14,460,000 (USD 1,872,681). The 18k white gold ring designed as a flowerhead, has a 5.01-carat, cushion-shaped, “pigeon blood-red” Mogok ruby as its centerpiece, surrounded by 4 petals, each set with an oval-shaped rose-cut diamond, within a circular-cut ruby, stylized surround.
The next highest selling lot is a colorless diamond lot, titled AN ELEGANT DIAMOND NECKLACE, BY BULGARI, assigned Lot No.2072 and selling within the estimated range of HKD12,000,000 – HKD18,000,000 (USD 1,553,975 – USD 2,330,962) for HKD 14,460,000 (USD 1,872,681). The 43.3 cm exquisitely crafted platinum and diamond necklace is composed of pear-shaped diamonds only and is designed as a line of 45 graduated pear-shaped diamonds, ranging in weight from 0.72 to 3.01 carats, the front suspending a detachable pear-shaped diamond weighing 9.05 carats.
A study of the top ten highlights of the sale clearly brings out the lots for which there was a great demand at the sale. These lots are colored diamond lots, colorless diamond lots, jadeite lots and colored gemstone lots which include rubies and sapphires.