Christies Hong Kong Breaks Asian Auction Record

(November 27, '13, 5:10 Danielle Max) (IDEX Online News) – It’s been a strong year for auctions worldwide, and the records continue to be broken. The latest record-breaking auction took place at Christie’s Hong Kong where the Magnificent Jewels Autumn Auction achieved $111,338,708, making it the highest total ever achieved for a jewelry auction in Asia.

The auction was sold 86 percent by lot and 91 percent by value.

The star of the night was a circular-cut D Flawless diamond necklace, comprising 52-stones, weighing a total of 104.84 carats, which sold for $8.144 million, or $77,680 per carat.

An 87.78-carat Burmese ruby and diamond necklace by Etcetera set a world record price for a ruby necklace, selling for $6,402,240 to a private Asian buyer.

Another record-breaking piece was a 12.85-carat oval-shaped fancy intense orangey pink VVS1 diamond, which sold for $5,095,872, a world record price for an orangey pink diamond as well as a world record price per carat for any orangey pink diamond, with a price of $385,000 per carat.

“Having achieved the highest total ever for a jewelry auction in Asia, the sale saw four jewels sell for over $5 million and 27 jewels for over $1 million," said Vickie Sek, director of Jewellery and Jadeite Department, Christie's Asia. "Asian clients bid competitively with collectors from all over the world and helped achieve world record prices for a ruby necklace, an orangy pink diamond and a pair of natural pearl ear pendants.”