Emerald Necklace Goes for $7M at Christie's

RAPAPORT... A Colombian emerald and diamond necklace designed by Edmond Chin for Boghossian was the top seller at the Magnificent Jewels sale at Christie's in Hong Kong, fetching $7 million.The double rivi??re piece contains 28 cushion and octagonal-cut Muzo emeralds weighing a total of 117.60 carats, and 48.01 carats of oval and rectangular-cut, D- to F-color diamonds. It went for just under its low estimate at the November 29 sale, which garnered a total of $51.5 million, the auction house said Sunday.Another high earner was a pair of marquise-cut, fancy-intense blue, internally flawless diamond earrings, each featuring a 3.29-carat stone. The set sold to African manufacturer Diacore for $927,000 per carat, or $6.1 million, smashing its high estimate.A square-cut, 4.90-carat, fancy-intense-pink, VS1-clarity diamond ring brought in $3.8 million, or $770,000 per carat, within estimates. Meanwhile, a cushion-shaped, 5.05-carat Burmese ruby and diamond ring achieved $2.1 million."Collectors from 24 countries and four continents around the world bid enthusiastically for some of the most coveted jewels offered at Christie's Hong Kong today, achieving strong prices for top-quality colored diamonds, jadeite and rubies," said Vickie Sek, the auction house's chairman of jewelry for Asia Pacific. "The depth of global participation and the encouraging sale results reflect healthy market demand."Christie's sold 76% of items on offer at the Hong Kong event, it noted. The company will hold its New York Magnificent Jewels sale on December 8.Image: The Edmond Chin necklace. (Christie's)