Magnificent Jewels and Jadeite, the last sale of Sotheby’s spring sales in Hong Kong, achieved 60 percent sold by lot. However, two premium lots fell short of expectation and failed to attract interest from bidders.
A jadeite bangle, estimated at HK$80m-100m, was the star lot of the sale. Compared to various forms of jadeite jewellery, bangles command one of the highest values due to the extensive wastage of the rough material. This involves a sizeable investment and risk because the centre of jadeite bangles needs to be hollowed out from a single boulder.
Probably due to the aggressive pre-sale estimate, the bidding of the jadeite bangle ended at HK$60m with no high bid offered. It ended up being passed at the auction.
Realizing the highest price at the sale was a ruby and diamond ring with a pre-sale estimate of HK$82m-92m. As the ruby mines in Burma and elsewhere produce fewer and fewer stones of important sizes, the discovery of any gemstone that is larger than 5 carats is a cause for celebration among gem connoisseurs. The impressive size of 24.70 carats combined with the well-saturated glowing red colour truly represents an exceptional treasure of nature.
The bidding saw a lukewarm reception from bidders. The ruby and diamond ring was hammered down for HK$75m, below its low estimate HK$82m. It sold for HK$86.4m with premium included.
Another highlight to be noted was an Art Deco Egyptian revival bracelet by Van Cleef & Arpels. Made in 1925, the bracelet responded to a fresh wave of archaeological motif at that time following a discovery of Tutankhamun's tomb. Estimated at HK$6.6m-8.5m, the bracelet was hammered down at HK$7.7m and sold for HK$9.36m with premium.
Highly Important and Superb Jadeite Bangle
Lot no.: 1771
Inner circumference: 56.86mm
Note: Accompanied by Hong Kong Jade & Stone Laboratory certificate numbered KJ 97608, dated 2 February 2018, stating that the jadeite is natural, known in the trade as "A Jade".
Estimate: HK$80,000,000 - 100,000,000
An Important and Spectacular Ruby and Diamond Ring
Lot no.: 1779
Weight: 24.70 carats
Also accompanied by sixteen GIA reports, stating that the pear-shaped diamonds weighing from 1.73 to 1.07 carats are all D Colour, Flawless to Internally Flawless; further accompanied by three diamond type classification reports stating that the diamonds weighing 1.52, 1.13 and 1.12 carats are determined to be Type IIa diamonds. Type IIa diamonds are the most chemically pure type of diamond and often have exceptional optical transparency. Also accompanied by four GIA dossiers, stating that the pear-shaped diamonds weighing 0.34 to 0.30 carat are all D Colour, Internally Flawless to VVS1 Clarity.
Accompanied by SSEF report numbered 80220, dated 11 June 2015, Gübelin report numbered 1003549, dated 12 March 2010 and AGL report numbered 8087505, dated 8 March 2018, each stating that the ruby is of Burmese origin, with no indications of heating; SSEF further stating that the colour of this ruby may also be called 'pigeon blood red' in the trade.
Estimate: HK$82,000,000 - 92,000,000
Hammer price: HK$75,000,000
Price realized: HK$86,392,500
A Rare and Exceptional Gem Set and Diamond Bracelet, Van Cleef & Arpels, 1925
Lot no.: 1783
Certificate: Accompanied by Van Cleef & Arpels certificate of authenticity.
Signed Van Cleef Arpels, numbered, French assay and maker's marks.
Estimate: HK$6,600,000 - 8,500,000
Hammer price: HK$7,700,000
Price realized: HK$9,360,000
Auction house: Sotheby’s Hong Kong
Sale: Magnificent Jewels and Jadeite
Sale date: 2018/4/3
Lots offered: 283
Sold by lot: 60%
Sale total: HK$381,800,000