Industry News by Nemesis

Blue Diamond Tops Billing at Christie’s Hong Kong

November 30, 2016

Christie’s sales totaled $79.2 million (HKD 611.1 million) at its Hong Kong jewelry auction on Tuesday, with a colored diamond leading the event yet again.

A marquise-cut, 4.29-carat, fancy vivid blue, internally flawless diamond ring fetched $11.8 million at the Magnificent Jewels sale. That translates into a price of $2.7 million per carat. 

Christie’s also sold the oval-shaped, 10.05-carat ‘Ratnaraj’ ruby and diamond ring for $10.2 million, achieving the third-highest per-carat price for a ruby at just over $1 million per carat. 

“Once again at Christie’s Hong Kong, Asian collectors and members of the trade showed great confidence for rare and important gemstones,” said Vickie Sek, deputy chairman for Asia and director of Christie’s Asia jewelry department. “The sale room was packed all day long with spirited bidding for colorless diamonds, colored gemstones and important jadeite jewelry.” 

In May, Chow Tai Fook bought the world’s largest natural fancy vivid green diamond for arecord $16.8 million, or $3.3 million per carat, at a Christie’s auction in Hong Kong. Separately, another tender, also in Hong Kong, in December last year saw a Burmese ruby garner $18 million, or an unprecedented $1.2 million per carat. 

This week’s auction was 80 percent sold by lot and 84 percent sold by value, attracting 149 buyers from 23 countries.


Source: Rapaport

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