SOTHEBY’S HONG KONG SETS A PER-CARAT WORLD RECORD FOR ANY GEMSTONE AT AUCTION SOTHEBY’S HONG KONG ACHIEVES THE HIGHEST-EVER TOTAL FOR A SALE OF MAGNIFICENT JEWELS AND JADEITE IN ASIA
Hong Kong, October 8, 2007 – In an evening sale session before an audience hushed in anticipation, after eight tense minutes of bidding and competition between no fewer than seven telephone bidders, Sotheby’s broke an auction record which had stood for over 20 years, the per-carat record for a gemstone at auction, when it sold a 6.04 carat internally-flawless emerald-cut Fancy Vivid Blue Diamond Ring for HK$61,927,500 (US$7,981,835) (est. HK$35-48 million*).
Mr. Quek Chin Yeow, Head of Sotheby’s Hong Kong Jewellery Department & Deputy Chairman of Sotheby’s Asia, said: “The results of today’s sale were the latest in a series of triumphs for Sotheby’s Hong Kong, which dominates the market at the top end for white and coloured diamonds in Asia. The HK$10,252,897/US$1,321,590 price per carat achieved tonight for the internally flawless diamond, substantially exceeded the prior record price per carat of US$926,000 for the Hancock Red** and almost doubled the recent per carat price for a blue diamond achieved elsewhere at auction. An important emerald with a famous provenance also performed very well and a very fine collection of jadeite jewellery assembled by an important Asian private collector sparked strong competition.”
The ‘Irving Berlin Emerald’ – an Important Emerald and Diamond Sautoir, featuring an extremely rare deep, vivid green emerald weighing 47.60 carats brought the remarkable price of HK$20,487,500 (US$2,640,634). With certified Colombian origins, a renowned source for emeralds of vibrant colour and fine clarity, the stone had been formerly owned by America’s best-loved songwriter and lyricist, Mr Irving Berlin, and his wife, Ellin Mackay.
Another magnificent coloured stone, a Superb Ruby and Diamond Ring by James de Givenchy for Taffin (est. HK$12-14 million) fetched HK$14,551,500/US$1,875,543. Set in an elegant and innovative micro-pave diamond-set frame by renowned jewellery designer James de Givenchy, nephew of the legendary fashion guru Hubert de Givenchy, the 7.20 carat ruby boasts the fabulous red colour, the rarest and most sought-after of its kind.
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Notes to editor:
*Estimates do not include buyer’s premium
**The Hancock Red was a 0.90 carat red diamond sold at auction in New York in 1987 for US$880,000.
PREVIOUS ASIAN AUCTION RECORDS FOR DIAMONDS:
9 APRIL 2006 - LOT 1363
SUPERB AND RARE FANCY VIVID PINK DIAMOND RING (10.04 carats)
Estimate upon request
Lot sold for: HK$48,280,000 (hammer price with buyer's premium)
*RECORD FOR A WESTERN JEWELLERY AND RECORD FOR A PINK DIAMOND AT AUCTION IN ASIA*
1 NOVEMBER 2004 - LOT 1047
SPECTACULAR AND AUSPICIOUS DIAMOND (88.88 carats)
Estimate: HK$42-48 million
Lot sold for: HK$47,326,400 (hammer price with buyer's premium)
*RECORD FOR A COLOURLESS DIAMOND AT AUCTION IN ASIA*