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Sotheby's Hong Kong Jewelry Auction Garners $8M

A Burmese ruby and diamond necklace sells for $809,932.
Dec 3, 2014 3:44 AM   By Ronen Shnidman
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RAPAPORT... Sotheby's Hong Kong fine jewels and jadeite auction achieved $7.9 million and  was 87 percent sold by lot. The final sales figure was at the lower end of a presale estimate of $7.5 million to $9.3 million. 

The top lot of the sale was a Burmese ruby and diamond necklace, which sold for $809,932 to a private buyer from Asia. The necklace is comprised of 50.57 carats of unheated Mogkok pigeon's blood rubies and 42.70 carats of pear-shaped and brilliant-cut diamonds. The necklace's gems are mounted on 18-karat white and yellow gold.

The highest-value diamond jewel from the sale  was a ring with three diamonds that sold for $469,451. The ring's center stone is a rectangular, modified brilliant-cut, 13.88-carat, VS1, fancy intense yellow diamond. The yellow center stone is flanked by two trapeze-shaped 3-carat white diamonds, with the gems mounted in a platinum and 18-karat yellow gold setting.   

Another notable lot, a Cartier tiger brooch that was purchased for $453,974, more than twice its presale estimate. The brooch was made from 9.95 carats of brilliant-cut yellow and white diamonds, as well as speckled onyx and pear-shaped emeralds. The brooch's gems were mounted in 18-karat yellow gold.
Tags: auction, Hong Kong, Ronen Shnidman, rubies, Sotheby's, yellow diamond
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