Diamonds and Jadeite Score Big at Auction

RAPAPORT... Poly Auction's Magnificent Jewels, Watches and Handbags sale garnered HKD 91.9 million ($11.9 million), with a number of diamond pieces selling within expectations.A jadeite necklace with a diamond and ruby clasp was the top lot at the July 8 auction, fetching $3 million. Some 76% of lots were sold at the Hong Kong auction.Other notable items included a round brilliant-cut, 10.01-carat, D-flawless, type IIa diamond. The piece brought in $983,332, or $98,235 per carat, within its presale estimate. A necklace featuring natural-pink and orangey-pink conch pearls separated by diamonds went for $726,153, just above its lower valuation.Meanwhile, an emerald-cut, 10.07-carat, D-flawless diamond ring fetched $695,897, or $69,106 per carat. The piece, which is surrounded by 1.23 carats of additional diamonds, fell within its estimated price. A 10.02-carat Colombian emerald and diamond ring achieved $400,897, in the middle of its valuation.Watches by Van Cleef & Arpels and Patek Philippe also proved popular at the auction, as did handbags by Herm??s.Image: The jadeite necklace. (Poly Auction)