Editor’s Note
This report details the results of Sotheby’s recent 50th-anniversary luxury sale in Hong Kong, where a curated selection of high-end collectibles achieved a total of HK$126 million. The standout piece was a jadeite necklace, fetching over HK$61 million.
Sotheby’s Hong Kong marked its 50th anniversary with a special cross-category luxury evening sale, featuring Hermès handbags, Yamazaki 50-Year-Old Whisky, an extremely rare Patek Philippe x Tiffany & Co. Nautilus watch, and several significant pieces of jewelry. All six lots offered were sold, achieving a total of HK$126 million. The top lot was a natural ‘Imperial Green’ jadeite bead necklace, which sold for HK$61.49 million (approx. US$7.84 million) including buyer’s premium.
Lot 88: ‘Tian Lu Lin Lang’ Natural ‘Imperial Green’ Jadeite Bead Necklace with Ruby and Diamond Clasp.
– Number of Jadeite Beads: 43
– Bead Size: 11-13mm
– Hammer Price: HK$51,000,000
– Final Price (incl. premium): HK$61,489,000
The necklace was offered with an estimate on request. Auctioneer Uni Kim (Jewelry Specialist) started the bidding at HK$40 million. It was hammered down at HK$51 million to client ‘L0004’ on the phone, represented by Wenhao Yu, Chairman of Jewelry & Watches, Asia, fetching HK$61.489 million with premium.
The 43 beads each possess the intense color and texture characteristic of ‘Imperial Green’ jadeite, with perfect cutting and polishing. The term ‘Imperial Green’ refers to the highest standard for jadeite jewelry, requiring fine texture, excellent transparency, and rich, vibrant color.
Lot 86: Cartier ‘Tutti Frutti’ Gem-Set and Diamond Suite (Necklace & Earrings)
– Highlights: Hexagonal emerald (~50.44 ct), hexagonal ruby (~10.15 ct), two pear-shaped emeralds (~71.22 ct total).
– Estimate: HK$22,000,000 – 35,000,000
– Hammer Price: HK$21,000,000
– Final Price: HK$25,860,000
This classic Art Deco series, born from Cartier’s exposure to Indian Mughal-cut gemstones in the early 20th century, features diamonds intricately woven with carved rubies, emeralds, and sapphires. The suite offered was created in 2018.
Lot 85: Cartier ‘Tutti Frutti’ Gem-Set and Diamond Wristwatch
– Highlight: Cushion-shaped emerald (~41.2 ct).
– Estimate: HK$9,000,000 – 16,000,000
– Hammer Price: HK$9,500,000
– Final Price: HK$11,945,000
Created in 2016, this unique manual-winding watch features a Mughal-style carved emerald at its center, paying homage to the century-old ‘Tutti Frutti’ style.
Lot 84: Patek Philippe Nautilus Ref. 5711 Limited Edition
– Description: Stainless steel bracelet watch with date and Tiffany turquoise lacquer dial, issued by Tiffany & Co.
– Year: Circa 2022
– Diameter: 40 mm
– Estimate: HK$16,000,000 – 24,000,000
– Hammer Price: HK$16,500,000
– Final Price: HK$20,415,000
This limited edition of 170 pieces was released in late 2021 to celebrate the 170-year partnership between Patek Philippe and Tiffany & Co., marking the final production of the steel Ref. 5711. The case back is engraved with “170th Anniversary 1851-2021 Tiffany & Co. – Patek Philippe”.
Lot 83: Yamazaki 50-Year-Old Whisky, First Edition (2005 Release)
– Estimate: HK$3,000,000 – 5,000,000
– Hammer Price: HK$3,800,000
– Final Price: HK$4,826,000
The spirit was distilled in the 1950s and matured in Japanese Mizunara oak casks, known for imparting unique flavors. The first edition, released in 2005, is exceptionally rare, with only about 50 bottles believed to have been produced.
Lot 82: Hermès Limited Edition So Black 32 cm Sellier Kelly Bag
– Description: Black Box calfskin with feather trim and black PVD-coated hardware.
– Year: 2010
– Size: 32 x 23 x 10.5 cm
– Estimate: HK$1,000,000 – 1,200,000
– Hammer Price: HK$1,600,000
– Final Price: HK$2,032,000
Designed by Jean-Paul Gaultier during his tenure at Hermès, the So Black series is the brand’s only collection to feature black PVD-coated metal hardware. The feathers were meticulously hand-applied.
Following the sale, Sotheby’s announced its next star jewelry lot: the 55.22-carat ruby ‘Estrela de Fura’. This stone, cut from a 101-carat rough discovered in Mozambique, is set to be auctioned in New York in June with an estimated value exceeding US$30 million.
– Auction House: Sotheby’s Hong Kong
– Sale: 50th Anniversary Magnificent Jewels and Noble Jewels Evening Sale
– Date: April 5, 2023
– Lots Offered: 6
– Lots Sold: 6
– Sell-through Rate: 100%
– Total Sale Proceeds: HK$126,567,000