Christie's Hong Kong: Colored Stones Take Top Bids
Asia Sees Its Most Valuable Jewelry Auction
A magnificent ruby and diamond necklace by Etcetera featuring Burmese rubies with a natural, beautifully saturated, “pigeon blood” red color was the top lot at Christie’s Hong Kong sale of Magnificent Jewels on June 2, selling for $12,997,122, above its pre-auction high estimate of $11,405,610. The auction also established a record for the most valuable jewelry auction ever held in Asia.

Etcetera, founded in 2000 by Edmond Chin, is characterized by technical innovation and often incorporates new methods of mounting and presenting gems, giving each jewel a unique and unexpected appearance. This is vividly expressed in the necklace, designed as an articulated lattice-work band of brilliant-cut diamonds, which centers on a line of 24 graduated pear-shaped diamonds weighing approximately 1 carat to 5.14 carats, framed by two rows of 48 oval- and cushion-shaped rubies weighing approximately 1.10 carats to 7.02 carats, all mounted in white gold. The back-chain features brilliant-cut diamond links accented with a pear-shaped diamond.

The second top lot was a superb diamond ring by Harry Winston (right), which sold for $12,634,508. The ring features a rectangular-shaped fancy intense pink diamond with internally flawless clarity and weighing approximately 9.07 carats, flanked by triangular-shaped colorless diamonds, mounted in rose gold and platinum. According to a report from the Gemological Institute of America, the pink diamond is determined to be a Type IIa diamond, a rare subgroup of diamonds that includes less than 2 percent of the world’s diamond production. Stones in this group are chemically the purest of all diamond crystals and often have extraordinary optical transparency.

Rounding out the top three lots was a highly important jadeite, ruby and diamond pendant necklace (left), which sold for $5,672,319, above its pre-auction high estimate of $4,925,150. The necklace features a thick, high-domed jadeite cabochon of a vivid emerald-green color and high translucency, surmounted by a cabochon ruby and brilliant-cut diamond spacer. Mounted in white gold, the pendant suspends from a luxurious black cord.

Etcetera also took the fourth top lot, with a ruby and diamond ring (right) that sold for $3,859,249, above its pre-auction high estimate of $2,332,966. The ring centers on a 5.11-carat oval-shaped ruby of Burmese origin with a natural, well-saturated color in the prized pigeon blood red. The ruby is set within a half-moon-shaped diamond surround, each set to the reverse with a triangular-shaped diamond, elevated over a brilliant-cut diamond and white gold shank.

The fifth top lot was an important diamond ring by Graff, which sold for $3,569,158, above its pre-auction high estimate of $2,332,966. The ring features a 15.15-carat Type IIa diamond in the rectangular shape with D color and internally flawless clarity, flanked by tapered baguette-cut diamonds, mounted in platinum.

Colored diamond rings by Moussaieff also fared well at the sale. One sold for $2,698,884, featuring a rectangular-shaped fancy intense green diamond weighing approximately 5.02 carats, flanked by pear-shaped pink diamonds, atop a platinum shank embellished with brilliant-cut pink diamonds (above left). Another sold for $2,553,839. This one features a pear-shaped fancy intense blue diamond weighing approximately 3 carats, set within a brilliant-cut pink diamond frame and heart-shaped pink diamond surround, atop a rose gold shank covered with brilliant-cut pink diamonds (right).

An extremely rare sapphire and diamond ring was the eighth top lot (left), selling for $2,481,316, above its pre-auction high estimate of $2,332,966. The ring features a circular-cut Kashmir blue sapphire with natural color weighing approximately 10.33 carats, set within a two-tiered brilliant-cut diamond surround, with a brilliant-cut diamond and yellow gold shank.

Rounding out the top 10 lots were jewels featuring octagonal-shaped green gems. The first was a jadeite and diamond ring, which sold for $2,336,270, shattering its pre-auction high estimate of $123,129. The ring features an octagonal-shaped jadeite plaque of a vivid emerald-green color and very good translucency, flanked by baguette- and single-cut diamond shoulders, mounted in white gold.

Etcetera took the 10th spot with a stunning emerald and diamond bangle (below right), which sold for $2,336,270. The bangle features an octagonal-shaped Colombian emerald with a pure, highly saturated color and weighing approximately 38.51 carats. The emerald is set within brilliant-cut diamond prongs on a hoop of marquise-shaped diamonds weighing approximately 1 carat to 1.54 carats, all outlined in brilliant-cut diamonds and mounted in white gold.

Christie’s Hong Kong sale of Magnificent Jewels achieved a total of $117,892,325 and set three auction records.
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