Hong Kong's True Colors- Magnificent Jewels Set Records

The Hong Kong Magnificent Jewels had a turn this week, after a rather quiet auction back in early April by Sotheby’s. Christie’s auction reached a record for total sales in jewelry in HK at HK$909,663,000 was over 3 times the sales at Sotheby’s back on April 6th, which stood at only HK$290,177,500. The room at Christie’s was full, while back in April it was literally empty, which also affects buyer’s mood.

As previously recorded, the star of the evening, a 9.07 carat Fancy Intense Pink with an IF clarity, broke a sub-category record. It sold for $1,394,120.62 per carat. The previous record was $1,314,143.73 per carat set on December 5, 2012. 

Also, a superb 3.00 carat Fancy Intense Blue with an IF clarity sold for $2,555,893. It did not break any records but sold at a great value and with a steady growth in value. The diamond is set in a ring by Moussaieff.

Another great ring by Mousaieff that was sold is a rare, 5.02 carat Fancy Intense Green diamond with SI1 clarity. It is not often that we get to see such stones sold at auction, simply because of the color rarity. It sold for $2,701,056 or $538,058.96 per carat.

The most expensive item that sold hat evening was a magnificent ruby and diamond necklace. The bidding war was long and painful, until somebody had to put an end to it and it got sold for $13,007,579. The necklace had a total of 48 rubies from Burma, with a total weight of 120 carats, and the color was that of the most desirable “pigeon’s blood” red.

Precious stones such as sapphires and rubies have been gaining momentum during the last year or so, even as diamonds gain momentum in parallel, and will continue to do so and their value and beauty becomes more popular and appreciated.

What do you think? Should the ruby and diamond necklace have been the star of the evening, or does that spot belong to fancy color diamonds?

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