Phillips to Sell Rare 53ct. Sapphire Necklace

RAPAPORT... Phillips's May Hong Kong auction will feature a rare52.50-carat Kashmir sapphire and diamond necklace with an estimated price of $2.2million to $2.9 million (HKD 17 million to HKD 23 million). "We are very proud to be entrusted to present a very rareand important Kashmir sapphire and diamond necklace - the first to be offered atauction in the past decade," Terry Chu, head of jewelry for Phillips Asia, saidlast week. Also included at the event is a round, 21.05-carat, E-color,internally flawless diamond, with a pre-sale estimate of $1.9 million to $2.3million (HKD 15 million to HKD 18 million). A pair of 14.59- and 12.54-caratemerald pendant earrings attached to 23.84 carats of signed Harry Winstondiamond earclips will also go up for auction. The set is priced between $1.8 million and $2.2 million (HKD 13.8million to HKD 17 million). The Jewels and Jadeite Spring Sale on May 28 will alsofeature a range of other colored stones, including a padparadscha pink sapphireand diamond ring, pigeon's blood red ruby pieces, and Columbian emeralds. Indian-influenced"Tutti Frutti" Art Deco pieces by Henri Picq for Cartier Paris will also gounder the hammer. The auction, which will offer more than $21.7 million (HKD170 million) worth of jewels, will take place at the Mandarin Oriental HongKong. Image: 52.50-carat Kashmir sapphire necklace, courtesy Phillips