Sotheby’s are known for their auctions of fine and rare jewelry. Last week on October 5 they held the Sotheby’s sale of Magnificent Jewels and Jadeite at Hong Kong. The event was more than a success and the Sotheby’s auctions fetched a total of $65 million. This was a record for Sotheby’s Hong Kong for a jewelry auction and reaffirmed the return of collectors and bidders in big numbers. The bidders seemed to be willing to pay any amount for a truly fine piece. And there were more than one remarkable piece up for auction.
There were two individual world records set during the auction for colored diamonds. The prices they fetched were the highest ever in any auction the world over on a per carat basis. The top lot was a 6-carat fancy vivid blue diamond and pink diamond ring. It is a rater sober piece and not one of those gaudy types that attract attention immediately. But it is one of the best pieces available in fancy vivid blue diamond. Some aggressive bidding saw the price climb up to a whopping $10 million which is a world record for a diamond of this type as it translated to a price of $1.7 million per carat.
The other piece of jewelry that was the highlight of the auction and overshot the presales estimates by a big margin was the vivid orange diamond ring. It is a very attractive piece and fetched a record price for an orange diamond in any auction ever. There were many in the auction who wanted to own the ring and as a result the price shot up to a record breaking $2.9 million which translated to $705,587 per carat. No orange diamond has ever received as high a price in any auction. The auction was a run-away hit.