A rare and impressive ring, adorned with a 13.26-carat natural Burmese ruby centre stone and diamond accents, dominated Sotheby’s Magnificent Jewels and Jadeite sale in Hong Kong on October 3.
The ring, designed and mounted by Bhagat, fetched HK$81.7 million (US$10.5 million), according to the auction house.
Another highlight of the sale was the Woolworth-Yard jadeite bead and diamond necklace, which achieved HK$9.1 million (US $1.2 million) – 23 times higher than its pre-sale estimate. According to Sotheby’s, the necklace received an unprecedented 43 telephone bids, competing with collectors in the auction room.
The double-strand necklace, composed of 52 and 57 graduated, highly translucent jadeite beads of matching bright emerald green colour, is mounted in platinum and white gold.
Other top lots were an unmounted 31.98-carat diamond, which was snapped up for around HK$39 million (US$5 million); a pair of unmounted diamonds of 12.36 and 12.00 carats, respectively, which sold for HK$22.3 million (US$2.9 million); and a jadeite bangle, which fetched HK$17 million (US$2.16 million).
The Magnificent Jewels and Jadeite sale realised a total of HK$504 million (US$65 million).