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A necklace set with Burmese rubies and white diamonds was the top-performer in Hong Kong. Image Source: Phillips

Burmese rubies, diamonds steal the show in Hong Kong

2.2 k views | Posted June 29, 2022 | By Richard Chiu

A 45.02-carat necklace featuring diamonds and rubies took centre stage during the Phillips Jewels and Jadeite Hong Kong tender.

The necklace sold for $US385,258 ($AU556,260) just within the pre-sale estimate.

The necklace, set with Burmese “pigeon’s blood” rubies and white diamonds was the top-performing piece at the tender. Total sales were $US3.4 million ($AU4.91 million) with just around 70 per cent of auctioned lots sold.

A matching bracelet featuring 17.08 carats of Burmese rubies and diamonds was also sold to another buyer at $US321,048 ($AU463,550) - slightly above the lower pre-sale estimate.

The second highest return during the tender was a 21.47-carat Colombian emerald and diamond bracelet at $US353,153 ($AU509,905).

Other notable pieces during the auction were a 1.55-carat heart-shaped intense purple-pink diamond ring that sold for $US176,576 ($AU254,952) and another 1.51-carat fancy deep purple-pink diamond ring for $US160,524 ($AU231,775).

Unfortunately, it was a disappointing outcome for several high-end pieces which failed to win buyers, such as a standalone 20.30-carat D-flawless diamond with a pre-sale estimate of $US1.8 million ($AU2.6 million). Additionally, a 9.43-carat D-flawless diamond ring valued at $US880,000 ($AU1.27 million) also went unsold.

A pair of flawless D-colour pear-shaped diamond earrings weighing 5.02 and 5.03 carats with a pre-sale estimate of $US580,000 ($AU837,442) also went unsold.

25-carat diamond ring to star at Christie’s

Meanwhile, Christie’s is featuring a 25.40-carat old-cut VS1-clarity diamond ring during its Joaillerie Paris (23 June to 7 July) tender which is expected to fetch around $US475,000 ($AU685,638).

The tender is showcasing pieces from Cartier, Van Cleef & Arpels, Belperron, Bulgari, and David Webb, among others, which also include items from jewellery designer Jean Fouquet’s collection and several vintage pieces from the Art Nouveau era up to the 1950s.

Among the high-value lots is a 10.56-carat cushion-cut Kashmir sapphire ring expected to fetch around $US422,270 and a modified pear-cut 9.46-carat D-colour VS1-clarity diamond ring with a pre-sale estimate of around $US316,703.