Editor’s Note
This article highlights the enduring strength of Hong Kong’s luxury jewellery sector, where collector-grade diamonds, gemstones, and branded pieces continue to see robust demand at auction.
Resilience prevails in Hong Kong’s high-end jewellery market, as evidenced by robust demand at live auctions for collector-grade fancy coloured diamonds, coloured gemstones and signed pieces from coveted international brands.
At Christie’s Hong Kong’s Magnificent Jewels auction late last month, paddles went up furiously for the star lot, The Oriental Sunrise earrings, which eventually fetched HK$62.02 million. The earrings are set with a pair of 12.20-carat and 11.96-carat fancy vivid orange-yellow, VVS2-VS1 diamonds.
A necklace mounted with 62.46 carats of Burmese pigeon’s blood rubies, set among diamonds, was sold for HK$49.98 million at the same auction. Additionally, a Cartier ring in platinum, set with a fancy vivid blue marquise brilliant-cut diamond of 4.39 carats, baguette and round diamonds, fetched HK$23.36 million.
Christie’s auction realised HK$466.81 million and its sale saw a 106 per cent hammer over low estimate. Ninety-two per cent of lots available were sold and 52 per cent of the sold lots exceeded their high estimates, reflecting highly competitive bidding. Many pieces with exceptional quality colourless and fancy coloured diamonds, as well as coloured gemstones, were snapped up by buyers.
Similar trends were observed at Sotheby’s Hong Kong Magnificent Jewels I auction, as well as at Phillips Hong Kong Jewels Auction held in early October.
said Uni Kim, co-head of Sale and Specialist, Jewellery, Asia, Sotheby’s Hong Kong, who attributes the steady interest to demand from discerning collectors who recognise the enduring value of storied brands’ rare and signed jewellery pieces.
At the October Sotheby’s auction, a Zip diamond necklace/bracelet by Van Cleef & Arpels achieved three times its estimate, fetching HK$3.24 million. The iconic design features a functional bejewelled zip pull suspending a tassel, in 18k white gold and platinum.
Two instantly recognisable dancer designs by Van Cleef & Arpels also attracted strong bidding. The Bals De Légende clip brooch, adorned with turquoise, onyx and diamonds, sold above its high estimate at HK$1.44 million. Another diamond clip brooch, in the Ballet Précieux design featuring a dancing ballerina, fetched HK$960,000, also above its high estimate.
