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Autumn auctions of Sotheby’s, Phillips and Christie’s in Hong Kong

Posted on by L. Dreeye
Autumn auctions of Sotheby’s, Phillips and Christie’s in Hong Kong

Sustainability prevails in Hong Kong’s luxury jewelry market, as evidenced by strong demand at live auctions. collector’s grade fancy colored diamondscolored gemstones and signature pieces from coveted international brands.

Christie’s Magnificent Jewels auction in Hong Kong late last month saw a furious bid for the star lot, the Oriental Sunrise earrings, which ultimately sold for HK$62.02 million. The earrings are set with a pair of fancy bright orange-yellow diamonds VVS2-VS1 weighing 12.20 carats and 11.96 carats.

The star lot at Christie's Hong Kong auction, the Oriental Sunrise earrings, sold for HK$62.02 million. Photo: Handout
The star lot at Christie’s Hong Kong auction, the Oriental Sunrise earrings, sold for HK$62.02 million. Photo: Handout
A necklace featuring 62.46 carats of Burmese pigeon blood rubies surrounded by diamonds sold for HK$49.98 million at the same auction. Besides, Cartier ring The platinum, set with a 4.39-carat fancy bright blue marquise-cut diamond, baguette and round diamonds, sold for HK$23.36 million.

Christie’s auction brought in HK$466.81 million and was 106 percent above its low estimate. Ninety-two percent of available lots sold, and 52 percent of lots sold exceeded their high estimates, reflecting the highly competitive bidding. Many exceptional quality clear and fancy colored diamonds and colored gemstones were snapped up by buyers.

Similar trends were observed at Sotheby’s Hong Kong Magnificent Jewels I auction, as well as at the Phillips Hong Kong Jewels Auction, held in early October.

Uni Kim, co-head of Asia sales and jewelry specialists at Sotheby’s Hong Kong, attributes the sustained interest to demand from discerning collectors who recognize the enduring value of rare and signed jewelry from iconic brands.

“Our curation strategy continues to focus on areas that remain strong, especially unique signatures from brands such as CartierVan Cleef & Arpels, Bulgari and Buccellati,” she said.
A Van Cleef & Arpels Zip diamond bracelet necklace sold for HK$3.24 million at Sotheby's Hong Kong. Photo: Handout
A Van Cleef & Arpels Zip diamond bracelet necklace sold for HK$3.24 million at Sotheby’s Hong Kong. Photo: Handout
Sotheby’s October auction included a Zip diamond necklace/bracelet from Van Cleef and Arpels exceeded its estimate three times, receiving HK$3.24 million. The iconic design features a functional jeweled zipper closure from which hangs an 18k white gold and platinum tassel.
Two instantly recognizable dancer designs from Van Cleef and Arpels also attracted strong trading. The Bals De Légende clip brooch, adorned with turquoise, onyx and diamonds, sold above its high estimate of HK$1.44 million. Another diamond clip brooch in the Ballet Précieux design, depicting a dancing ballerina, sold for HK$960,000, also exceeding its high estimate.