Christie's to Sell $12M Blue Diamond Ring

RAPAPORT... A fancy-intense blue diamond ring with a high estimate of HKD 95 million ($12.3 million) will go under the hammer at the Magnificent Jewels auction at Christie's in Hong Kong.The marquise-cut, 12.11-carat piece, which is internally flawless, will lead the July 9 sale, Christie's said Wednesday.The Hong Kong auction was originally due to be held June 2, but was postponed amid the coronavirus pandemic, which shut down businesses and travel for more than two months. The Magnificent Jewels sale will be Christie's first live auction since the outbreak.Another prominent lot featured in the sale is a jadeite bangle that is expected to fetch HKD 8 million to HKD 12 million ($1 million to $1.5 million). A 6.06-carat, Burmese pigeon's blood ruby and diamond ring is also on offer, carrying a presale estimate of HKD 6.4 million to 9.5 million ($838,430 to $1.2 million).In addition, Christie's will offer a necklace containing two Kashmir sapphires, weighing 12.81 carats and 6.50 carats, and diamonds. The piece is expected to fetch HKD 6 million to HKD 8 million ($773,967 to $1 million).Other notable items include a pair of jadeite hoop and ruby earrings, valued at HKD 3.8 million to HKD 5.8 million ($490,187 to $748,180).During the pandemic, Christie's has been holding online sales, with its sold-out April Jewels Online auction garnering $1.4 million. On June 30, the auction house plans to sell a 28.86-carat diamond, the largest D-color ever offered online.Sotheby's plans to hold its live Magnificent Jewels sale in Hong Kong on July 10.Image: The 12.11-carat blue diamond ring. (Christie's)