Christie's Garners $56M at Hong Kong Sale

RAPAPORT... A jadeite necklace was the top seller at the most recent Christie's sale in Hong Kong, achieving nearly $9 million.The piece features 33 jadeite beads and a clasp set with an 11-carat Burmese ruby surrounded by oval-cut diamonds. It fetched $8.8 million, within its estimate, following spirited competition at Wednesday's Magnificent Jewels auction, the company said. In total, the sale brought in $56.3 million, with 85% of items finding buyers."Our Hong Kong saleroom exhibited market vibrancy and strong buying momentum," said Vickie Sek, chairman of Christie's Asia Pacific jewelry department. "We are delighted to have achieved strong prices across the diverse selection of fine jadeite, rare colored and colorless diamonds, as well as important colored gemstones."Other notable items included a ring by designer Moussaieff, set with a rectangular-cut, 3.06-carat, fancy-vivid-blue, internally flawless diamond surrounded by pink and white diamonds. The jewel went for $5 million, or $1.6 million per carat, just missing its lower estimate. An emerald-cut, fancy-intense-orangey-pink, VVS1-clarity diamond weighing 13.32 carats achieved $4.4 million at the auction, within its presale price range.Meanwhile, an oval-cut, 6.05-carat Burmese ruby and diamond ring sold for $3.9 million, and an emerald-cut, 36.15-carat, D-flawless, type IIa diamond ring fetched $3.7 million, both within their estimates. Two pairs of earrings also realized high prices. The first, bearing round brilliant-cut, D-color, internally flawless diamonds weighing 15.59 and 15.12 carats, sold for $2.8 million, within its price range. The second set, by Harry Winston, featured pear brilliant-cut, D-flawless diamonds weighing 10.98 and 10.11 carats, and raked in $2.1 million, just over its high estimate.Christie's saw participation from bidders in 13 countries across four continents, it said. The auction house's next Magnificent Jewels sale will be held in New York on June 8 and features the Light of Africa, a 103.49-carat, D-flawless diamond expected to fetch up to $18 million.Image: The jadeite necklace. (Christie's)