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Sotheby's HK Magnificent Jewels Sale Targets $99M

Mar 20, 2014 1:38 PM   By Jeff Miller
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RAPAPORT... Sotheby’s Hong Kong will host its sale of magnificent jewels and jadeite on April 7, featuring 320 lots and a presale estimate of $99 million (HKD 775 million).  Sotheby's will exhibit the jewels from April 3 to 6.

Quek Chin Yeow, the deputy chairman and head of jewelry for Sotheby's Asia, described some of the top lots.  “This season we are delighted to present the Tremendous Trio – three highly important necklaces that embody the ultimate in quality, and proportions in diamonds, gemstones and jadeite. A spectacular white diamond necklace offers 85.33 carats of dazzling perfection. The Red Emperor necklace (pictured) alone embodies a superb Burmese ruby collection amassed over a century totaling 104.51 carats.   emperor red

"The Hutton-Mdivani jadeite bead necklace represents the most impeccable quality and provenance. They are complemented by an extraordinary selection of jewels of exceptional quality, the most coveted brands and designs, and the best qualities encompassing all categories, including a 102.61-carat royal blue sapphire necklace that signifies the first occurrence of sapphire of its proportion and calibre in the auction market in Asia. The upcoming sale promises to be a wonderful feast for jewelry connoisseurs,” Yeow said.

Sotheby’s sale presents a spectacular diamond necklace by Nirav Modi, totaling 85.33 carats with a presale estimate of $7.3 million to $8.3 million. The piece  highlights 17 brilliant-cut diamonds, weighing between 1.27 carats and 10.51 carats,  all of D color and flawless to internally flawless clarity, connected by 40 smaller diamonds that are also graded D, IF.

The Red Emperor features 60 pigeon’s blood rubies of 104.51 total carat weight (tcw), brilliant-cut, pear-shaped diamonds of 59.06 tcw in a design by James W. Currens for Fai Dee. This piece is offered with a presale estimate of $8.7 million to $11 million. The ruby rough that would later create the necklace was collected beginning in 1905 by Roop Chand Lunia the founder of Fai Dee, Sotheby's stated. The Red Emperor was only completed after more than a century by his great grandson and fourth generation successor, Rajeev Lunia. Cutting and polishing of the rubies took eight years, from 2005 to 2012, and range in size from 0.72-carat to  5.04-carat. All rubies were certified by the Gemological Institute of America (GIA) to display the most prominent “pigeon’s blood” color and are free of heat treatment.

blue sapphireSotheby's offers a  102.61-carat cushion-shaped “Royal Blue” sapphire and diamond necklace (pictured) with a presale estimate of between $2.8 million and $3.8 million. The sapphire is  free of heat treatment, returns maximum light and is ''virtually inclusion-free under 10x loupe,'' according to the firm. The necklace is complemented by a 20.04-carat cushion-shaped Kashmir sapphire and diamond ring (presale estimate of $1.5 million to $2.2 million) and a pair of sapphire earrings of 9.46 carats and 8.55 carats (presale estimate $1 million to $1.4 million).

Other highlights include a 29.62-carat cushion-shaped oval Burmese Mogok ruby and diamond ring, mounted by Cartier, for $6.5 million to $7.5 million. The ring centers upon a rare unheated Burmese Mogok ruby of  excellent clarity and enticing homogeneous fiery red. Sotheby's offers ''The Maharaja Dream,'' a 49.31-carat, VVS1, type IIa, fancy brown-yellow, oval Golconda diamond ring with a presale estimate of $1.7 million to $2.1 million. The auction house added that while brown colors are usually due to the presence of nitrogen, The Maharaja Dream's golden hue is caused by the chance occurrence of crystal lattice distortion during the growth of a natural diamond.

The top jadeite lot is a high-quality, rare oval bangle of mesmerizing translucency, fine texture, even and saturated green hue and considerable thickness, with a presale estimate of $5 million to $6.5 million. Another lot features a jadeite necklace and pair of matching earrings with a presale estimate of $2.9 million to $3.6 million. Sotheby's described the pieces as having enticing emerald green color and spectacular translucency, perfectly flanked by dazzling diamonds.

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Tags: Auctions, diamonds, Hong Kong, Jadeite, Jeff Miller, Jewelry, Magnificent Jewels, rare, rubies, sapphires, Sotheby's
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