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Top Lot Fails to Sell Again at Sotheby’s

Oct 6, 2016 8:22 AM   By Rapaport News
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RAPAPORT... Sotheby’s failed to sell its top item at the Magnificent Jewels & Jadeite auction in Hong Kong, two weeks after the headline lot in New York met the same fate.

A jadeite bangle estimated at $6.4 million (HKD 50 million) to $9 million did not find a buyer at the sale October 4. Sotheby’s Important Jewels auction in New York last month also saw the lead item, an oval, 27.35-carat, D-color, VS2-clarity diamond and platinum ring, fail to hit its reserve price.

The most expensive item to sell in Hong Kong was a ring featuring a 5.07-carat ruby surrounded by four pear-shaped diamonds that weighed a combined 7.56 carats. It fetched $1.9 million, falling at the lower end of its estimate of $1.9 million to $2.3 million.

Total sales at the auction were $24.8 million.
Tags: Auctions, Hong Kong, Jadeite, Magnificent Jewels and Jadeite, new york, Rapaport News, Sotheby’s
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