Sotheby's Garners $38M at Hong Kong Sale

RAPAPORT... Sotheby's realized HKD 295.8 million ($37.7 million) at its Hong Kong sale Friday, even as several big-ticket items didn't make the cut.A parure comprising a necklace with 176.93 carats of jadeite and diamonds, a pair of earrings and a ring was the top seller at the April 29 Magnificent Jewels sale. The set fetched HKD 46.4 million ($5.9 million), Sotheby's said last week.A cushion-shaped, 3.27-carat, fancy-vivid-blue diamond ring also performed well, achieving HKD 41.5 million ($5.3 million), within its estimate. Meanwhile, a necklace featuring a pepper-shaped jadeite suspended from a brilliant-cut diamond missed its lower estimate. The piece, which is decorated with diamonds, sapphires and a ruby on the back, brought in HKD 24.6 million ($3.1 million), well below its HKD 35 million to HKD 55 million ($4.5 million to $7 million) presale price. Other notable items included two unmounted round brilliant-cut, D-flawless diamonds.One, weighing 25.33 carats, sold for HKD 23.4 million ($3 million), while an 18.88-carat stone hammered for HKD 16.5 million ($2.1 million). Both were within estimates.However, three top lots did not appear on the list of sold items. A radiant-cut, 5.11-carat, fancy-vivid-purplish-pink diamond ring by designer Nicholas Lieou was expected to fetch between $10.2 million and $12.8 million. The Carmine Rose, a ring bearing an oval, 8.08-carat ruby surrounded by pear-shaped diamond petals, was estimated at up to HKD 40 million ($5.1 million), while a pair of unmounted oval-shaped, D-flawless diamonds weighing 20.29 and 20.28 carats had a combined high price tag of HKD 32 million ($4.1 million). Sotheby's did not respond to a request for confirmation as to whether the pieces were sold.Image: The jadeite and diamond parure. (Sotheby's)